The $180m payday that ‘meme king’ didn’t share with most staff
Frank Greeff, the founder of Realbase, recently sold the company for $180 million but did not share the proceeds with most of his staff. The equity from the sale was limited to a small group of stakeholders, leaving the majority of employees without any financial benefit. Greeff has been vocal against proposed capital gains tax changes, arguing they could harm employee equity schemes.
- ▪Realbase was sold to Domain Holdings in April 2022 for $180 million.
- ▪Only about 10 stakeholders received equity from the sale, while over 350 employees did not benefit.
- ▪Greeff has led a campaign against capital gains tax changes that he claims will negatively impact employee equity schemes.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.