Camping World CEO and host of CNBC’s The Profit Marcus Lemonis announced he is selling up to $500,000 of stock to establish a relief fund for his employees who are negatively affected by the coronavirus outbreak.
“The associates are what make this company what it is, and while they are not asking for a handout, I will do everything I can to protect their personal and financial well-being,” the billionaire businessman said in a statement. “They have always taken care of the customer, taken care of each other, and taken care of me.”
“We are in unprecedented times, and we are all making sacrifices, but it is important for us all to do more, and I’m reaching into my pocket to protect the team,” he added.
Lemonis recently purchased $1.7 million of Camping World Stock, according to Barron’s.
A Camping World employee told the Illinois-based The Times that he was laid off because the company had to downsize due to coronavirus fears.
“I was in such shock that I just didn’t know what to say,” Cody Delmendo, 28, said.
Over 22,000 people have been killed by the coronavirus worldwide. Almost 500,000 cases have been confirmed, while nearly 120,000 people have recovered.
The Senate passed a $2 trillion relief package late Wednesday night that will now go to the House for a vote.
“This strange new reality has forced our nation onto something like a wartime footing,” Senate Majority Leader Mitch McConnell said. “A fight has arrived on our shores. We did not seek it. We did not want it. But now, we are going to win it.”
