Juul Employees to Get $2 Billion Bonus in Altria Deal
(Bloomberg) -- Employees of Juul Labs Inc. are getting a $2 billion bonus as part of a deal with Altria Group Inc. to take a stake in the startup, according to a person familiar with the matter, who asked not to be identified because the details are private.
The company has about 1,500 employees, meaning the bonus works out to about $1.3 million per person at the company. CNBC reported the news earlier Thursday.
The money is part of a payment in Altria’s purchase of a 35 percent stake in Juul for $12.8 billion. The deal valued the electronic cigarette startup at $38 billion, making it one of the most highly valued startups in Silicon Valley.
The company decided to use part of the sum to pay the bonus to its staff, the person said. It wasn’t immediately clear how the money would be divided among the employees.
©2018 Bloomberg L.P.