Categories
Antiwork

How My Boss Made It Look Like He Made Only $100k instead of the actual $700k

I once worked at a factory that did about $10,000,000 in business. Owner took a salary of about $100,000 and we had some people making min wage, which was like $18,000 in our state. Smart people will point out, “He got the profits,” but it's worse that than. He kept the business at about zero profits (reinvested income into machinery, etc.) but where he really made his money was that the building (his building that he inherited) was a separate entity, and the factory paid the building (paid him) $50,000 a month. So, he'd walk around like a humble factory owner who made $100k, but his real take home was $700k minus any maintenance the building needed……….except in the 3 years I was there, the leaky roof was never fixed. Instead, in a storm we'd place barrels to catch the rain. Once he hit 60-yo he shut the company down…


I once worked at a factory that did about $10,000,000 in business. Owner took a salary of about $100,000 and we had some people making min wage, which was like $18,000 in our state.

Smart people will point out, “He got the profits,” but it's worse that than. He kept the business at about zero profits (reinvested income into machinery, etc.) but where he really made his money was that the building (his building that he inherited) was a separate entity, and the factory paid the building (paid him) $50,000 a month.

So, he'd walk around like a humble factory owner who made $100k, but his real take home was $700k minus any maintenance the building needed……….except in the 3 years I was there, the leaky roof was never fixed. Instead, in a storm we'd place barrels to catch the rain.

Once he hit 60-yo he shut the company down and sold the building for $8,000,000. This was in spite of his nephew being there about 20 years and wanting to take it over with the understanding that he'd pay $50k in rent every month.

Leave a Reply

Your email address will not be published.