HomeNewsTrendsThis millionaire transferred the full ownership of his company to 700+ employees

This millionaire transferred the full ownership of his company to 700+ employees

Bob’s Red Mill, which grew to 700 employees by April 2020, became 100% employee-owned, much before Bob Moore passed in 2010 when he established an employee stock ownership plan.

February 20, 2024 / 15:07 IST
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Bob Moore died at his home on Saturday, February 10, at 94. (Image: bobsredmill.com)
Bob Moore died at his home on Saturday, February 10, at 94. (Image: bobsredmill.com)

Bob Moore, the founder of Bob’s Red Mill – a natural foods company renowned for its commitment to whole grain products and employee well-being - died on Saturday at the age of 94 leaving his entire company to his 700+ employees.

Moore had already relinquished ownership in 2010, establishing an employee stock ownership plan for his then 209 staffers on his 81st birthday. The company, which grew to 700 employees by April 2020, became 100% employee-owned, much before Moore passed.

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Moore's journey began running gas stations, managing stores at JCPenney and owning a goat farm in Sacramento with his wife Charlee, who died a few years earlier.

In 1968, Moore stumbled upon the story of "John Goffe’s Mill," and inspired by the narrative of restoring a family grain mill, he sourced 19th-century millstones and established an operational mill on the outskirts of Redding, California. He was 49 then.