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Real estate company will distribute $10 million among its employees in surprise Christmas bonus
A real estate company headquartered in Maryland announced last week a $10 million Christmas bonus to be distributed among all of its 198 of its employees, with the average employee set to receive $50,000.
St. John Properties, a Mid-Atlantic commercial real estate firm, wanted to celebrate reaching its company goal of developing 20 million square feet of office, retail and other commercial spaces in eight states.
Company Founder and Chairman Edward St. John revealed at the company's annual holiday party on Saturday that the $10 million bonus would be paid out to employees based on the number of years they have been with the company, with an average employee to receive $50,000.
"To celebrate the achievement of our goal, we wanted to reward our employees in a big way that would make a significant impact on their lives," St. John said in a press release. "I am thankful for every one of our employees, for their hard work and dedication. I couldn't think of a better way to show it.
"My philosophy has always been to surround myself with the best and the brightest - and that is what we have done. Every professional at St. John Properties is committed to excellence every day," he continued.
The company shared a video of the party during which employees received red envelopes with the news. Some people began to cry and cover their faces as they received the holiday surprise.
"I was totally blown away when this happened," one employee said in the video.
"What happened tonight, it is magical. It is life-changing," another added.
"I steer the boat, but they're the ones that run the boat. They're the ones that make the boat go. Without the team, we are nothing," St. John says in the video, explaining the holiday gift. "We are absolutely nothing."