Chobani Employees Just Got This Sweet Perk And the perk is better for workers who have been with the company longer.

By Laura Lorenzetti

entrepreneur daily

This story originally appeared on Fortune Magazine

Chris Ratcliffe — Bloomberg/Getty Images
Hamdi Ulukaya, founder and CEO of Chobani.

Chobani employees were treated to a sweet new perk on Tuesday: an ownership stake in the company.

A share in the yogurt maker has the potential to make some of the 2,000 full-time employees millionaires, reported the New York Times. Chobani founder Hamdi Ulukaya told employees that they would receive shares worth up to 10 percent of the company, giving them a chance to cash out handsomely when the company goes public or is sold.

Each employee was given a number of shares based on his or her tenure. Shares of which came directly from Ulukaya's own holdings since he owns the lion's share of the company. The longer a worker has been there, the bigger the stake.

Ulukaya wants employees to share in the value that they've helped create, which is said to be in the several billion-dollar range. One estimate from two years ago when TPG Capital loaned the company $750 million estimated Chobani's value at $3 billion to $5 billion. At the low end, the average employee pay out would be $150,000. The longest tenured employees could hold closer to $1 million worth of shares.

Laura Lorenzetti is a contributor for Fortune Magazine.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Side Hustle

This Gen Zer's Stylish Side Hustle Earns About $20,000 a Month and Paid Off His Parents' $200,000 Debt: 'I Enjoy the Hands-Off Nature'

Ray Cao went from working as a barista for $8 an hour to being a successful seller on online marketplace StockX.

Business News

MacKenzie Scott Donates $640 Million to Non-Profits After Elon Musk's 'Ex-Wife' Comment on X

The winning applicants span 38 states, Washington, D.C., and Puerto Rico.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.