Employees gift their CEO his dream car
Employees buy Tesla for CEO, who raised their wages to minimun $70,000tech Updated: Jul 15, 2016 12:27 IST
Dan Price gained worldwide attention when he raised wages of 120 of his emloyees to a minimum of $ 70,000 in a year. According to reports, his employees saved up for months to buy their CEO their dream car -- a Tesla.
It was believed that he even doubled some employees’ annual wages and slashed his own compensation from $1.1 million to $70,000.
However, according to Bloomberg Business’ Karen Weise suggested that he may have made the unusual move as a reaction to a costly lawsuit served to him by his older brother, who owns about 30% of Gravity. In the suit, the brother claimed that Price paid himself excessively for a number of years.
Whatever might the motives be behind the raise, many Gravity employees were overwhelmed with their Bosses’ decision to grant them such big raise. Therefore, they got him his dream car.
First Published: Jul 15, 2016 12:13 IST