Maryland Real Estate Company Gifts Employees With $10 Million In Bonuses During Holiday Party

A Maryland real estate company gifted its employees $10 million in bonuses at its holiday party.

Employees at St. John Properties secured the bag for their company all year long, and their efforts were repaid in millions on Saturday. The 198 workers were all given red envelopes, but what was in them they did not know. When they opened them, they were shocked to see bonuses averaging $50,000, which totaled to $10 million.

“When I opened the envelope, I was in total disbelief,” Stephanie Ridgway, an assistant project manager at the company, told CNN. “I couldn’t believe I saw what I saw. I don’t even have words to properly describe how I felt, it was just amazing and incredible. I’m still in shock. It’s definitely life-changing.”

St. John Properties President Lawrence Maykrantz told CNN that the company reached its goal of developing 20 million square feet in real estate, doubling the amount in 14 years. “We wanted to do something to thank all our employees for helping us achieve our goal, and we wanted to do something big,” Maykrantz told CNN.

The bonuses were based on the employee’s length of time with the company. The smallest amount given was $100 for an employee who was just hired, while the largest bonus was $270,000. “It was truly one of the most amazing things I’ve ever witnessed in my life. Everyone was all overwhelmed with emotions. They were screaming, crying, laughing, hugging,” Maykrantz said.

“People were lining up to hug us, and kiss us, and shake our hands, and they told us story after story of what they’re going to use their bonuses for. People are now debt-free, they’re paying off their credit cards, their mortgages, their tuition, and student loans.” A 37-year-old employee, who has been with the company for 14 years, said she will use the bonus for her children’s college funds. “I’m looking into some possible investments and some house upgrades, but the majority of the money is going into my children’s future,” said the worker.

If the bonus wasn’t kind enough, the company also flew in all their out-of-state employees and their guests and covered all airfare and hotel costs for the party. “We are so proud of our employees. They are the foundation and the reason behind the success of our company. And we wanted a big way to thank them, and I think we were successful in doing that,” Maykrantz said.