Monday, November 12, 2007

Google Stock Option Wealth Creation

From today's NY Times article "Google Options Make Masseuse a Multimillionaire":

"Although no one keeps an official count of Google millionaires, it is estimated that 1,000 people each have more than $5 million worth of Google shares from stock grants and stock options."

Including massage therapist Bonnie Brown, "who answered an ad for an in-house masseuse at Google, then a Silicon Valley start-up with only 40 employees. She was offered the part-time job, which started out at $450 a week but included a pile of Google stock options that she figured might never be worth a penny.

After five years of kneading engineers’ backs, Ms. Brown retired, cashing in most of her stock options, which were worth millions of dollars. To her delight, the shares she held onto have continued to balloon in value." (See chart above of Google's stock price over the last two years.)

MP: Perhaps this is one explanation for rising income inequality in the U.S. in recent years. I don't think there were any comparable examples of this type of "Google stock option" wealth creation for part-time employees during the 1960s, 1970s, 1980s, or maybe even the 1990s?

2 Comments:

At 11/12/2007 3:18 PM, Anonymous Ang said...

Hi There! Bonnie has written a book called Giigle. It's about her zany Google, travel, massage, and life adventures.

You can find out more about her and read excerpts from the book at her Web site: www.GiigleBook.com

 
At 11/13/2007 11:50 PM, Anonymous Charles D. Quarles said...

MP,

Sure there was, at least for the 80's and 90's. Wal-Mart and Microsoft come to mind quickly.

 

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