You Could Become Rich With Chobani Yogurt
Posted On Apr 27, 2016
CEO of Chobani awarded 2,000 full-time employees an ownership stake in the company.
Hamidi Ulukaya said in a letter to staff, “This isn’t a gift. It’s a mutual promise to work together with a shared purpose and responsibility. To continue to create something special and of lasting value.”
The shares, which total to about ten percent of the company, will only be awarded if Chobani goes public or is sold. The number of shares given to each person is based on their employment duration, so the longer an employee has been at the company, the larger the stake.
Two years ago, Chobani received a loan from TPG Capital, a private equity firm, and at the time, Chobani’s value was estimated between $3 billion and $5 billion. At a $3 billion estimate, the average employee’s payout would be $150k.
However, the employees who have worked with the company since its startup will most likely be given many more shares, possibly worth over $1 million.
Ulukaya, a Turkish immigrant, founded Chobani in 2005 and has since altered the way American consumers perceive Greek yogurt. And with this announcement, Chobani has potentially become one of the top companies Americans want to work for.
If you are looking to join the Chobani team, here’s a heads up – there are currently over 40 open positions including employments in New York, Georgia, Idaho, and Illinois.
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