Nikola founder gifts $233 million worth shares to his first 50 employees
New Delhi | Jagran Trending Desk: The founder of USA’s Arizona-based electric truck company Nikola Corporations has gifted 6 million of his own shares to the first 50 employees of his electric-truck company. The total shares gifted by Trevor Milton, founder of the company, cost $233 million as per the current market value of the shares of Nikola Corporations.
“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. “The likelihood of us ever succeeding was like next to none and luckily I found an incredible group of employees that started with me from day one,” he added.
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According to a report in Bloomberg, Trevor Milton is a self-described serial entrepreneur who could not complete through the high school but passed the General Educational Development test while simultaneously utilising the social media to promote his aspirations into electric transport vehicles’ landscape.
Milton also took to Twitter and stated that he had no plans to sell his own stocks but instead took to gift his shares to his first 50 employees as he had promised when they took the jobs.
“I love our employees. They make Nikola great & are the key to our success. I'm making good on my promise when I hired the first +- 50 employees - giving 6,000,000 of my personal shares to them. You'll see a reduction in my holdings for this. They are not sold, but given,” Milton wrote on Twitter.
I love our employees. They make Nikola great & are the key to our success. I'm making good on my promise when I hired the first +- 50 employees - giving 6,000,000 of my personal shares to them. You'll see a reduction in my holdings for this. They are not sold, but given.— Trevor Milton (@nikolatrevor) August 26, 2020
The company has been successful in developing the hydrogen fuel cell-powered semi-trucks, meant for the transport of goods in the United States initially. The initial successes like this have boosted the company’s fortunes and despite the pandemic-led scepticism, the company continues to find credible investors for its electric transport endeavours.
Posted By: Talib Khan