Trevor Milton: This Founder Is Giving His First 50 Employees $233 Million Of His Stock
Published on 27th August, 2020 | 1 min read
Trevor Milton, the founder and chairman of Nikola Corp., is giving the first 50 employees of the electric-truck startup 6 million of his own shares after making a promise when he hired them. “When I first started this company I was looking for the best employees in the world and it was a huge risk,” Milton said in a video posted on his Instagram page. I’m making good on my promise when I hired the first +- 50 employees – giving 6,000,000 of my personal shares to them. Trevor Milton August 26, 2020 The shares he’s handing over in the Phoenix-based company are currently worth about $233 million. The stock has surged since Nikola started trading on the Nasdaq via a reverse merger in early June, driven by investor appetite for electric-vehicle manufacturers, even as the company has yet to produce its first vehicle. Milton said a couple of those first employees have since departed. Among them is the Agnelli family’s CNH Industrial NV, Jeff Ubben’s ValueAct Capital Management, South Korea’s Hanwha Group, and Nikola’s first backer: Worthington Industries Inc., the metals manufacturer where Milton used to work.
