CEO buys 50,000 lottery tickets to share jackpot with employees
Recently, the CEO of Raising Canes a fast food company in the US purchased 50,000 Mega Million lottery tickets and has promised to share the win with his employees. Todd Graves, Founder, and CEO of Raising Canes will be sharing the prize money with all his employees if any of the tickets win the jackpot. The jackpot may hit an estimated $810 million!
According to the estimation, each employee would receive around $9,600. Graves, along with co-CEO AJ Kumaran, went to separate gas stations two days ago to purchase one ticket for each employee. They spent two hours purchasing the tickets! Kumaran told Daily Mail, "We just wanted to have a little fun and maybe even a little bit of money in the process."
"It took us four different banks and about two hours to get all the money in a little bag and then go into two different gas stations and sit there and click the button for about eight hours to get these tickets printed," said Kumaran.
Graves wrote on Twitter, "Buying 50,000 lottery tickets is harder than you think. Hoping to share the winning jackpot with our 50,000 @RaisingCanes Crew." A video was also shared by Graves showing the tickets getting printed on a machine. The lottery tickets were sold at $2 per ticket and Graves and Kumaran spent a total of $100,000 (Rs. 80 lakh) on the tickets.
There are more than 49,000 employees at Raising Cane's spread over 650 locations around the Middle East and the US. Kumaran further said that if one of the tickets wins, a portion of the funds will be provided to all the other employees. However, the distribution process by the company has not been decided yet. "There's a lot to be figured out," Kumaran said.
"I think there's some legal things that we have to follow, so we are figuring that out. Let's see if we win," Kumaran added. According to lottery expert and Harvard statistician Dr. Mark Glickman, employees of the restaurant chain have a one in 6,052 chance of winning compared to one in 303 million. The drawings are held every Tuesday and Friday at 11 pm.