Tech Billionaire Has Best Way For Investors To Get Rich
Talk about ripping up an old idea and writing a new script–
Tech billionaire Marc Benioff is very vocal about what he sees as the best way to get rich.
The San Francisco Chronicle tells the story of how Benioff has turned SalesForce.com into one of the biggest tech companies in the world.
It has made Benioff a billionaire many times over.
What’s the secret to his company’s success?
Old thinking is all about making money for shareholders.
Benioff subscribes to a theory he calls, “1:1:1.”
That means companies should give away 1% of their equity, 1% of their employees’ time, and 1% of their product to charity.
It’s something called, “Stake Holder Value,” It says that if you do right by all of your stakeholders, like customers, employees, partners, the community, and the environment, the stock will rise.
It might sound like a new concept now, but billionaire Benioff believes you’ll see many companies make the move to this kind of thinking in coming years. It’s simply good business.
Benioff and his wife have donated $200 million to build a Children’s Hospital in San Francisco.
And now he’s looking at equal pay for women, taking a hard look at his own company and giving millions of dollars in raises before the results are even in.