Russian CEO Oleg Derpaska Gives His $3 Million Bonus to Employees

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It happens everywhere. Companies claim to have no extra money to give their lower level employees raises, while big CEOs get huge bonuses. It’s unfortunate, but companies tend to value their CEOs over people they feel they can replace. One CEO has decided to end the inequality.

One CEO is doing his part to close huge pay gap between himself and his employees. Russian aluminum magnate Oleg Deripaska is using his entire $3 million bonus to buy shares for 120 of his more than 72,0000 employees, according to the BBC. While this is a one time thing, if successful, the company may give more awards to employees in similar ways.

While there is speculation that this move may be to distract people from the controversy around him, it still sets a great example. He has been accused of bribery and extortion in various lawsuits, but all claims have been very unsuccessful, according to ABC News.

Sparing his $3 million dollar bonus won’t make a very big cut on his $8.5 billion net worth, he is setting a great example. Bonuses to executives in the United States jumped up 25% last year according to The New York Times.

Deripaska isn’t the only CEO doing this. Yang Yuanqing, the head of technology company Lenovo, gave $3 million of his bonus away to some of his workers last year, but kept $2.2 million of it for himself.

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About DevonJ140
I am currently an Accounting Director living in New York City. I love reading and learning more about business, finance, tech, and current events.

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