‘Tis the season for holiday giving, and one company is giving back to its employees in a big way. The employees of St. John Properties, a mid-Atlantic real estate firm, were gifted a huge holiday bonus… like, a really huge holiday bonus. The company gave its employees a combined bonus of $10 million at their recent holiday party. To say the employees were excited is really an understatement.
St. John Properties founder and chairman Edward St. John announced the super-generous gift during the company’s annual holiday party. After saying that all employees would split a lump sum of $10 million, he invited them to open red envelopes that included the details of each individual’s bonus. Each person’s bonus depends on how long they’ve been with the company. The average employee is receiving $50,000, but some are being gifted bonuses in the six figures.
St. John wanted to celebrate reaching a big company goal: developing 20 million square feet of office, retail, warehouse and other spaces across eight states. He thought it would take 40 years to reach the goal, but instead, it only took 14.
Danielle Valenzia, an accounts payable specialist, has been working for St. John Properties for 19 years. She told The Baltimore Sun, “What happened tonight was magical. This is huge.” She’s responsible for her five kids and five grandchildren, and her bonus will help her to take care of them. Many other employees explained that they’ll also be able to use their bonuses to help their families with finances.