Great post. This is a sensible compensation strategy which gives employees an incentive to perform as well as respects the distinct role of each employee. Companies like this need some hierarchy. It is not some silicon valley startup where every staff member is already a talented engineer.
Honestly I'm kind of jealous of the guy. I've always been pretty entrepreneurial and thought that I would find a way to be wealthy sooner or later. It hasn't happened yet and may never. I'm a simple person and would probably get bored of all the things money can buy. I would then want to find ways to give it away. I'm not a big believer in charities. I think that the need for charities arises because people aren't able to provide for themselves in one way or another. I would prefer to give somebody a good paying job that they can then support themselves with. There's a huge difference between making $25k and $70k a year. A lot bigger than $250k and $1million.
This story served a clear political motive so I will not be surprised to see this follow-up buried six feet under...