The Hut Group whilst perhaps not being a household name for many, are the company behind a host of well known brands including Allsole, Lookfantastic, Glossybox, MyProtein and many others.
The Hut Group are an eCommerce powerhouse and are currently valued at around £5 Billion and run over 200 websites mainly focused in the health, beauty and fashion markets, as well as licensing technology to huge brands like Nestle and Coca-Cola.
What stands out most about The Hut Group however is not their success as a corporate entity, but instead the attitude and actions of its founder Matt Moulding. As the company continues to succeed he is also ensuring that his employees succeed too.
The Hut Group Share Giveaway Spreads Companies Wealth
In the most recent share giveaway The Hut Group has made 74 of its employees millionaires due to the current valuation of their shares.
According to Matt Moulding over the past decade 430 staff have been gifted over £1 Billion worth of shares. This generosity is one rarely seen in modern day business.
“We have created more millionaires than any other company in British corporate history,”
“The shares are 100 per cent gifted, no-one has had to pay anything. We have genuinely changed so many lives.” – Matt Moulding, Founder & CEO, The Hut Group
The recipients of the share giveaway span across the whole business from managers to drivers and office staff, and he’s not stopping there. The number of millionaires could still rise as apparently there are still £175 Million shares still to be handed out.
These actions have led some to refer to Matt as the World’s most generous boss, which would be even harder to argue against given that throughout the Covid-19 pandemic he has given £10 Million of his own money to Covid relief efforts, as well as donating £2 Million of PPE to frontline workers.
Matt Moulding and his family are worth a staggering £960 Million according to the Sunday Times Rich List which was helped massively to the tune of £830 Million after The Hut Group launched on the Stock Market in September.
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