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Covid-19: Denmark's richest man to pay 17,000 employees one month's salary as bonus

Web report/Brande
Filed on October 9, 2021
Photo: Reuters

The extra pay is a special recognition of the efforts of his staff during recent tough times

For Anders Holch Povlsen, chief executive of clothing company Bestseller and Denmark’s richest man, 2020-21 has been “the best financial year in its history”. And to celebrate, the billionaire has decided to offer an extra month’s salary as bonus to his 17,000-strong staff, totalling up to $46.6 million (approx. Dh171 million).

Describing it as “a remarkable year,” which surprised many “including ourselves,” Povlsen admitted that the company had experienced some problems.

“We have been through some difficult months, but we can now see we have fought back in the past year,” he said. “Everyone has a huge share in it, and it testifies to the very special team spirit we have, an incredible spirit and a very strong unity.”

He said he was grateful “that we stand where we stand now”. The bonus was a special recognition of the efforts of all employees during the tough time, he added.

“I am impressed with the efforts of my colleagues and the way in which everyone has put our values into play,” noted Povlsen. “And that we have delivered through an extraordinary year, where we have been both skilled, timely and humble, but have also had a touch of luck that we also do not want to underestimate.”

The marked improvement and the overall results show that Bestseller has managed to get back on the growth track the company was on before Covid-19, he added.

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According to Forbes magazine, Povlsen has an estimated net worth of $12 billion. Earlier this year, he was ranked 28th on the Sunday Times Rich List. The 48-year-old is the largest estate-holder in Scotland, owning 200,000 acres in the Highlands.

The businessman suffered a terrible tragedy in 2019, when three of his daughters were killed in a terrorist attack in Sri Lanka.





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