When CEO Larry Connor made $1.6 million during recent volatility in the stock market, he decided to give it to his employees.
In 1972, Larry Connor graduated from Ohio University with virtually no money, but plenty of ideas, and the desire to own his own business. 48 years later, Connor is the managing partner of The Connor Group, a Dayton-based real estate investment firm with roughly 400 employees. The Connor Group operates higher-end apartments in 14 different markets.
Last week, Connor broadcast a surprise video to his employees, who were expecting a "pandemic update". In the video, Connor explained that during recent market volatility, he'd made $1.6 million on the stock market in just eight days. He then told them he was paying the earnings to them in the form of bonuses, in appreciation to them for "doing their part" during the COVID-19 pandemic.
"I started to think about probably our most important core values: Do the right thing and people count, Connor said. "I'm taking the entire $1.6 million and dividing it up among all of you. In my view, this is not a gift. You have earned it."
Watch the video below.