Gravity Payment

8 Stories

Here's How the $70K CEO's Experiment Is Going, 5 Years In

Dan Price has no regrets, but won't call the plan a full 'success'

(Newser) - It grabbed major headlines , but the rollout of Gravity Payment's plan to pay all its workers at least $70,000 was not without bumps. Even so, Dan Price, the CEO of the Seattle payment processing company, says that five years later, he has no regrets. "It's worked... More »

CEO Raising Everyone's Salary to at Least $70K

The process will be finished in 2024

(Newser) - When Gravity Payments bought Boise, Idaho, firm ChargeItPro three years ago, the lowest-paid employees made $24,000 a year. That soon went up to $40,000—and Gravity CEO Dan Price says it will be $70,000 by 2024. To mark the opening of a new Boise Gravity office, which... More »

'$70K CEO' Beats His Brother in Court

Dan Price of Gravity Payments wins lawsuit filed by brother

(Newser) - The CEO who promised to pay all his employees a minimum of $70,000 per year just beat his brother in court, the Seattle Times reports. Dan Price, CEO of Seattle company Gravity Payments, was sued last year by brother Lucas , with whom he founded the credit card payment processing... More »

CEO Upped Salaries to $70K. But Were His Reasons Pure?

Karen Weise of Bloomberg Businessweek takes a hard look at Dan Price

(Newser) - This spring, Seattle-based Gravity Payments CEO Dan Price became an instant sensation when he announced that he would be cutting his roughly $1 million salary to ensure that all 120 of his employees would be paid a minimum salary of $70,000. "It’s not about making money; it’... More »

How a CEO's Move to Pay All at Least $70K Backfired

Dan Price's egalitarian salary plan created a tempest

(Newser) - It seemed like a great idea at the time: Pay every employee in your company at least $70,000. But as the New York Times reports, when Dan Price announced his grandiose plan, a whole host of problems quickly descended on his Gravity Payments credit card processing company. Two longtime... More »

CEO Behind $70K Minimum Salary Is Sued by Brother

Complaint is about 'aggregation of events'

(Newser) - The feel-good story about a CEO who is taking a pay cut so he can pay all his workers at least $70,000 a year just hit a sour note. He's getting sued by his brother, reports the Seattle Times . Lucas Price, a co-founder of Gravity Payments, filed the... More »

Why the '$70K' CEO Is Cool With Losing His $1M Salary

Dan Price says his life is pretty simple

(Newser) - Gravity Payments CEO Dan Price has been lauded since news broke that he's gradually raising the minimum salary for his company's employees to $70,000—but what will it be like for Price to live on $70,000? That's what he, too, will be making, down from... More »

Entrepreneur Reads Study, Will Pay All Workers $70K

Dan Price wants his employees to be as happy as possible

(Newser) - A number of studies have been done to determine exactly how much income we need to reach our happiness peak, and Dan Price read one that pegged the magic number at about $70,000 per year. But Price, the owner of a credit-card payment processing company, didn't just read... More »

8 Stories
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