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In video shared on Instagram, employees holding glasses of champagne can be seen clapping, cheering, and in some cases, crying.īut Blakely wasn't finished, and as the cheers died down, she spoke back up. The whole room immediately erupted in cheers and screams. 'I was spinning the globe because to celebrate this moment, I have bought each one of you two first-class tickets to anywhere in the world,' she said. 'Why am I spinning the globe?' she asked the room. Having far surpassed that goal, Blakely stood next to a globe sitting on a table. 'And everybody laughed at me.'īut wait, there's more! She also threw in an additional $10,000 in spending money

And I said this company will one day be worth $10 million,' she told them, pausing as she got choked up. 'When I started the company in Virginia Highlands on a white board in my room, I wrote a goal down. Though the investment business didn't share just how much it paid, CNN reports that it's eight figures, meaning a massive payday for Blakely.īut while plenty of CEOs kept those payouts for themselves, Blakely rewarded the employees who have helped get Spanx to where it is.Īt a party last week, Blakely stood before her champagne-holding employees in a room decorated with balloons. Spreading the wealth! Spanx founder Sara Blakely celebrated her company's $1.2 billion valuation last week by sharing her good fortune with her 500+ employeesīlackstone announced the deal on Wednesday, writing in a press release that it has 'agreed to buy a majority stake in the company at a valuation of $1.2 billion,' but that Blakely still maintains 'a significant equity stake in the business.'

Blakely began Spanx as a side business while selling fax machines door-to-door in her late 20s.

Employees were seen screaming, cheering, and crying, with several sharing plans to go to Croatia, South Africa, and Bora Bora.

She surprised them with news that each person would get two first-class plane tickets to anywhere in the world, plus $10,000 spending money.

Blakely, 50, announced the news to employees with a party this week.

Though neither company shared how much Blackstone purchased, they paid an eight-figure sum.

Investment management company Blackstone had purchased a majority stake in Spanx last week, with the company reportedly valued at $1.2 billion.

The shapewear billionaire shares the wealth! Spanx founder Sara Blakely gifts 500+ staff with $10,000 and two first-class plane tickets each as brand is valued at $1.2 BILLION (21 years after the fax machine saleswoman launched it with just $5k)