Finally a decent ceo

Dan Price slashed his own $1.1 million CEO salary so that everyone at his company would earn a minimum of $70,000 a year. He made the change after learning one of his employees was working full-time but couldn’t afford rent. Critics called him naive and said that his company Gravity Payments would go out of business.

They were all wrong. Since the change, Gravity’s revenue has tripled. Its customer base doubled and more than 70% of employees paid off their debt. Many bought homes for the first time and were finally able to save and invest money. Employee turnover dropped by half.

The company became a Harvard Business School case study on how paying workers fairly can actually strengthen a business. Dan didn’t do it for praise. He did it because someone on his team was struggling and he had the power to change that. This is what it means to really make a difference in someone’s life.

📸 (Photo: Dan Price)