The fact that in this case the founder alone has 20% of the stock (after multiple investments & dilution), has 40% of the vote share, and is probably talking about < 5% given to early employees. And his investors are gaga about him, and super unlikely to take control away from him.

If he gives away 5%, he will still have 15% of the equity, 30% of the voting share, and retain complete control of the company. Or he could issue 5% addn shares and dilute everyone equally by 5%.

Now he just looks like as ass.