In 1956, the first Employee Stock Ownership Plan was created by San Francisco lawyer and economist Louise O. Kelso, who developed this approach as a way to transition ownership of Peninsula Newspapers, Inc. In 2021 alone, 283 new ESOPs were established, benefiting 36,355 participants. As of 2024, the
National Center for Employee Ownership (NCEO) estimates that there are roughly 6,500 ESOPs across 6,322 companies. These plans cover about 14.7 million participants and hold over $2.1 trillion in assets.
