Gravity Payments CEO might have had other motives in paying all his workers $70K


Bloomberg has a fascinating interview with Dan Price along with some follow-up investigative work and some elements of Price’s story don’t seem to line up. We talked previously about the fact that Price’s brother and former business partner has a lawsuit pending against him. This was reportedly because he was worried that the wage hikes were driving down the value of the company and, as a result, the value of his share of it. But as Bloomberg reports, when they checked into the dates of various events, trouble was already brewing before Price even decided to raise everyone’s wages. Part of it may be that Price had previous raised his pay far beyond what a company of their size and volume might normally get.

**Forward to today

**As we discussed last December, Lucas raised questions over Dan’s widely lionized decision to pay all the workers so much money. There were accusations made which implied that the CEO’s “generosity” didn’t have quite so much to do with a dedication to ending income inequality, but rather a way to drive down the company’s value to avoid paying off his brother and business partner for his share of the firm’s worth. Lucas is seeking redress through the courts, and the final hearing between the brothers has gone to the judge, but with an interesting wrinkle arising at the last moment. As soon as the proceedings drew to a close, the two sides went back into mediation. (Biz Journals)

It looks like the true motivations are coming to light just as we have seen with other efforts to claim equality which were really geared to created less equality.

The motives seems to be to rid one brother of the other in this case.