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Owner of Family Business Hands out $4 Million in Christmas Bonuses

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A buisness owner in Ludington, Michigan, is giving away $4 million worth of Christmas bonuses this year—an oversized gift a long time in the making.


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Tré Goins-Phillips

The owner of a small business in Ludington, Michigan, is giving away $4 million worth of Christmas bonuses this year—an oversized gift a long time in the making.

Roughly 200 employees from FloraCraft, which was founded in 1946 and manufactures foam products for the craft and floral industries, will split the big hunk of holiday cash, according to The Ann Arbor News.

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Lee Schoenherr, owner and chairman of FloraCraft, made the announcement last Friday, during a company Christmas luncheon.

The money will be divided in a couple ways, with employees who have more than 40 years invested in the company receiving a whopping $60,000. The average bonus will be around $20,000.

According to Schoenherr, 25 percent of each employee’s charitable bonus will be doled out in cash, while the remaining 75 percent will be invested into their 401(k) plans.

“I’ve got one sole and overriding reason for doing this,” the company owner explained, “and that’s to show you my appreciation for all the hard work and things that you do. It doesn’t go unnoticed. … It’s the only reason; there’s no other reason behind it except to say you guys and girls have been great.”

FloraCraft CEO Eric Erwin said the brand’s employees “were beyond surprised and deeply grateful of Mr. Schoenherr’s generosity.”

“He wants to ensure our employees have resources available as an immediate reward for their hard work, along with a nest that allows them to save, plan and prepare for their future security,” Erwin added.

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In a press release published on the FloraCraft website, Schoenherr said he began brainstorming ways to celebrate his employees’ hard work and dedication “a few years ago.” He went on to note he and his wife, Joan, are “blessed in so many ways.”

“We want to share these blessings with the men and women whose energy, passion and loyalty inspire us every day,” he said.