Employee Ownership Blog

Corey Rosen

Billionaires Saw Wealth Increase by $1.3 Trillion in Pandemic

Based on data from Forbes calculated 11 months after the onset of the pandemic, the country’s 679 billionaires saw their wealth increase by $1.3 trillion since the official start of the pandemic in March 2020. That number is almost as much as the total asset value of the 14 million participant accounts in ESOPs, and one-fourth as much as the total assets in 401(k) plans. Looked at another way, if the increase on value had been evenly divided among the 164 million people in the workforce, it would come to almost $8,000 per worker. The combined wealth of the billionaires is now $4.3 trillion.

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Amanda DeVito

Why You Should Attend the Annual NCEO Employee Ownership Conference

First and foremost, I am on the board for the NCEO, so I may be a bit biased! But hands down, one of my most favorite events is their Employee Ownership Conference. Connecting with everyone, sharing stories, and being part of the ownership tribe is an uplifting experience. And now, as we are less than two months away from the 2021 conference, I again start to feel uplifted. 

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Corey Rosen

KKR Partner Pete Stavros to Set Up New Fund to Promote Employee Ownership

Pete Stavros, a partner and co-head of private equity for the Americas at KKR, the third-largest private equity fund in the world, told the Wall Street Journal that he and his wife plan to contribute $10 million to launch the Center for Shared Ownership. The organization will focus on employee ownership through funding research, providing resources for companies to help set up plans, and possibly pushing for legislation and government support. Stavros told the Journal that “Giving ownership to lower-level employees better aligns their interests with those of shareholders and managers, makes them more engaged, and creates a stronger culture. And at a time when rising inequality has led to populist uprisings and geopolitical instability, awarding shares to blue-collar workers can lead to great social cohesion by helping lower income workers—many of whom are racial minorities—build wealth.”

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