CEO Dan Price Bats For Income Equality, Slashes Own $1 Million But Others May Not Follow

In the era of multi-million salary figures for a CEO, Dan Price stands out with his company, Gravity. He took a 90% salary cut to raise the lower wages to $70000. Employees at Gravity were stunned but erupted in cheers when Price announced his decision.

Dan Price has become the poster boy for income equality and CEO pay cuts when he announced this move at his Seattle-based payment processing company, Gravity. Price started his company with his seed money provided by his brother Lucas who did not raise many objections for this measure. Price also was motivated by the Happiness studies which reported that workers would be motivated to do their best with higher salaries. “The income inequality has risen from the great recession and it is time we find answers for this ever widening gap. As an entrepreneur this social problem should be addressed in the most capitalist friendly position,” said Price.

Gravity employees are ecstatic about the raise. Nydelis Oritz whose pay jumped to $50,000 said, “My Mom cried over the phone and it is astounding that I am making more than both my parents combined.” She hoped that with increased money her family’s struggle to pay the rent would succeed. Employees like Jason Byrd hoped to pay off their student loans and save for the rainy day with the increased pay.

However, many industry watchers feel that this move will not catch on as Gravity being a private company, Price can do as he pleases. Industry watchers say that a publicly traded corporation would not lower profits pay their employees. They would also not reduce CEO salaries to avoid losing a talented leader. Some point out that after going to college for four years, investing yourself in your job to gain a promotion and then seeing a newbie in the copy room getting the same take home would be galling.

But Price is not moved. He feels that “His Generation” is ready to make the change. Price feels that the customers are happy with the move as they feel that their expense is contributing to the well-being of the folks around them.

In the country like the U.S. CEO salaries have been sky-rocketing with the average worker struggling to make even one percent of the same. Seattle has a history of wage struggle and it is apt that a CEO should strike the first blow against inequality.

For questions/comments regarding the article, you may email the writer at honeygeorge74.ibtimes@gmail.com.