Scottsdale resident Bob Parsons is giving $1.3 million in bonuses to employees Friday after passage of the GOP tax plan.

The money will go to 725 employees at YAM Worldwide, a Parsons-owned holding company that operates more than a dozen businesses ranging from real estate to video production.

Parsons founded GoDaddy, an internet domain-name registrar, and was known for extravagant holiday parties for employees. He sold his stake in the company in 2011.

Parsons said the tax-plan bonus idea came to him on Thursday as he saw other companies make similar announcements.

"I was reading what AT&T, Comcast and Pfizer and so forth were doing and thought, 'You know, why not? That makes a lot of sense,' " Parsons said.

Parsons predicts the tax plan will lead to "explosive" growth. "On a massive scale, the lowered federal tax burden on businesses will increase investment, entrepreneurship and corporate philanthropy,” he said in a released statement. “I’ve always believed in sharing good news and have decided to celebrate the tax plan by giving back to my staff.”

Nearly 600 employees with YAM at least a six months will receive $2,000 bonuses. Those hired more recently will get $1,000 bonuses.

The money is in addition to employee bonuses, ranging from $500 to $5,000 based on tenure and luck, given earlier in December.

"We put everybody's name in a bowl and we draw random names and that determines how much bonus they get," Parsons said. "And then if you don't have your name drawn, you get $500."

The bonuses also are separate from performance-based financial incentives, Parsons said.

Forbes places the 67-year-old Parsons as the 315th wealthiest American with a net worth of $2.6 billion.

Among YAM Worldwide companies are Scottsdale-based PXG, Sneaky Big Studios and Harley-Davidson of Scottsdale.

READ MORE:

GoDaddy founder plans new Scottsdale retail hub

GoDaddy founder Bob Parsons pledges $318K to attract filmmakers to AZ

LGBT youth center hit by arsonist receives $275,000 donation