Boxed CEO Chieh Huang announced plans to help pay for college tuition for his employee’s children on Tuesday.
The Boxed CEO is looking to create a non-profit charity that will be dedicated to covering tuition costs for his worker’s kids. He plans to donate $1 million of cash and stock to the fund. The company currently has about 100 employees and there are 12 kids, none that are old enough for college, among them, reports Fortune.
Huang’s non-profit won’t cover the cost of housing, books or other expenses. The Boxed CEO is also urging others in the company to donate to the fund when they can. The majority of the company’s employees are warehouse workers, Fortune notes.
There have been several stories of CEO’s doing nice things for their employees and companies lately. Gravity Payments’ CEO raised his employees’ minimum wage to $70,000 a year by taking a pay cut, Plum Creek Timber Co. Inc.’s (NYSE:PCL) CEO gave his stock bonus back to the company and Tiens’ CEO gave 6,400 workers a free vacation to France.
