Pandora founder Tim Westergren is cashing his shares as quickly as possible, at a rate that now exceeds $2 million a month, $12 million a year, and $23.4 million since the company went public. In fact, he has now cashed almost all of his available shares.
On Tuesday, Westergren had this to say about his long-term vision for the company.
“At Pandora we talk about building a company that will last for 100 years. One that will employ our grandchildren. In the long run, the greatest fulfillment you will get from work is not how much you make, how much control you have or how much recognition you get. It will come from having a company that you are proud of and that great people love to work for.”
And, on the touchy-topic of cashing shares: “Every employee at Pandora gets stock,” Westergren wrote.
“The marginal increase in spoils that come to you at the expense of those around you is irrelevant.”
The complete post, called ‘Equity, Control, and Credit: Be Generous,’ can be read here.
Image by Jerry “Woody,” licensed under Creative Commons Attribution-ShareAlike 2.0 Generic (CC BY-SA 2.0). Written while listening to araabMUZIK.