Earned $1M Without Doing Anything

Wondering why everyone on your social media feed is buzzing about an ex-ball player named Bobby Bonilla who hasn’t worn an MLB uniform since 2001? Or why it feels like deja vu? It’s because of A. The Internet is absurd, and B. Ever since 2011, July 1 has been recognized by smart alecks across the cultural landscape (and plenty of awestruck business pundits) as #BobbyBonillaDay.


That was the year his former employer, the New York Mets, began paying Bonilla $1,193,248.20 annually on the first of July, a sum they will continue doling out every July 1 through 2035, at which point Bonilla will be 72. Why do you ask? Because heading into the 2000 season, the Mets decided to buy out the remaining $5.9 million on their aging outfielder’s contact. But rather than shell out the cash upfront, team ownership accepted a deal proposed by Bonilla’s agent to defer payments by a decade and disperse them over 24 years at a fixed annual interest rate of 8% (hence the funny math).

21DJC Day 1 - What Would You Do If You Have 1 Million Dollars? - Personal  Excellence


Again — why, you ask? Because at that time, Mets ownership was infamously in the thrall of late, disgraced financier Bernie Madoff, and thought they`d yield enough from short-term investments with his firm to more than compensate for future balloon payments to Bonilla.


We all know how that worked out. And every July 1 is a continuing reminder of just how swimmingly it has all flowed for Bonilla since. But as any contemporary brand should, the Mets have tried to reclaim their fiduciary fiasco and turn it into viral gold by embracing #BobbyBonillaDay with humor — and synergy. A home run for all, indeed.

Also Read: User-Generated Content Guide


The Entrepreneurs Diaries is now available on Telegram. Join our telegram channel to get instant updates from TED.

spot_imgspot_img

Subscribe

Related articles

How Artificial Intelligence is Changing the Workplace

The many challenges of talent management in keeping employees engaged are helping to define the future of work.

How to Help Your Children Develop Entrepreneurial Skills

Entrepreneurs are born or bred. It was probably more nature than nurture for me. I wasn't raised in an entrepreneurial environment.

What Is a Comfortable Retirement Lifestyle?

Americans estimate that they will require $1.1 million to retire comfortably. Unfortunately, only about one in every four people

How To Create An Employee-Centric Culture

Employee-centric cultures benefit organisations in various ways, from increased productivity and retention to better customer service.

Ways To Keep Your Employees Healthy Throughout The Year

Employees are a company's lifeblood. Therefore, businesses can thrive when they are healthy. When employees become ill, however
spot_imgspot_img
adana eskort - eskişehir eskort - mersin eskort