Manchester Tech Boss Makes 74 Of His Employees Millionaires

The CEO of a Manchester-based company has made 74 workers at the firm millionaires after gifting a total of £1billion to employees in shares.

Matt Moulding, 48, founder of The Hut Group, said he has gifted around 430 staff shares in the company over the last ten years.   

This includes those working as drivers, warehouse operatives and secretaries at the company, jobs often overlooked when bonuses are handed out.

Speaking to the Mirror Mr Moulding said: '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.'

Of those who have received the shares 74 are now millionaires as a result, with the company enjoying exponential success in recent years. 

Mr Moulding added that he plans to award more shares to those working for him, with £175 million earmarked for hand out. 

The techfirm is behind brands such as LookFantastic, GlossyBox, MyProtein, exante and MyVitamins. In addition to it's brands, investors are especially interested in its online shopping technology, which it licenses to companies such as Asda and Tesco.

Mr Moulding's 25 per cent stake in the company is said to be worth £1.6billion, he donates his entire salary to charity. 

Those at the firm who have benefited from his generosity include a driver who has amassed £40,000 in addition to his salary over the last two years of working for the company - allowing him to buy a new car and take his family on holiday to the US and Canada,  Mirror reports.

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Posted By On 01:30 Wed, 09 Dec 2020

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