Employees of a large commercial real estate firm received a life-changing surprise when they were gifted $10 million in bonuses at their company holiday party.
Ed St. John, founder of St. John’s Properties in Baltimore, Maryland, and company president Lawrence Maykrantz, gave out 198 bonus checks to their employees during the end-of-year festivities.
“It's crazy! It is life changing,” one employee said.
“I’m shocked. I’m very thankful,” another said.
The amount each employee received was based on how long they had worked for the company, with the average employee taking home $50,000.
The largest bonus, amounting to $270,000, went to an employee of more than 44 years.
“What happened tonight was magical,” an employee said. “It’s really amazing.”
Maykrantz said employees told him they plan to use the money to pay off mortgages, buy cars, pay off debts and pay for their children’s educations.
This bonus will be paid out in addition to the company's annual year-end bonus, as well as other benefits, which include 401(k) retirement plan matches, profit sharing and paid vacation time.