In April 2015, the 30-year-old CEO of Gravity Payments announced he would raise minimum salary to $70,000. Now, the world questions his motives. Read the full story early in Texture, or start a free trial for full access to to the world’s top magazines.
If you read the cover stories (Inc., Entrepreneur) and watched the 25 TV interviews (The Today Show, The Daily Show), Dan Price seemed to have all the right reasons at heart. He was lauded a hero, a modern day Robin Hood, and one of America’s “sexiest CEOs.”
“It’s not about making money, it’s about making a difference.”
Price claimed he was raising the base salary for all 120 Gravity employees because of research on happiness, productivity, and a desire to do what’s best for his customers and employees. Amid new details, Price’s motives have been majorly called into question.
Not only did legal documents come to light—revealing that Price faces a lawsuit from his brother based on his exorbitant salary—but Price’s ex wife also came forward with allegations of physical and emotional abuse.
Did Price raise salaries to avoid legal payouts? How will he react when faced with the tough questions?
In the December 3 issue of Bloomberg Businessweek, Karen Weise sets out to find the truth. Read the full story early in Texture.