We just learned about it and we need to say, qudos to Bob…

Bob Moore, founder of Bob’s Red Mill, who died at 94 on February 14, 2024, chose to transfer ownership to over 700 employees via an Employee Stock Ownership Plan (ESOP) that initiated in 2010, a rare move defying the typical sale to corporate giants, as supported by the National Center for Employee Ownership’s 2023 report showing only 6,500 ESOP companies in the U.S.

This decision contrasts with mainstream corporate trends where private equity firms, which controlled $4.8 trillion in assets by 2024 per Preqin data, often acquire and dismantle companies, preserving Bob’s Red Mill’s community-focused ethos and avoiding potential exploitation by firms like Monsanto, a concern raised by users in the thread.

This action reflect a cultural admiration for Moore’s legacy, aligning with studies like the 2021 Journal of Business Ethics research, which found employee-owned firms often outperform traditionally structured companies in job stability and worker satisfaction, challenging the narrative that profit maximization trumps social good.