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CEO who took drastic pay-cut

From the amazing Dan Price.

“Six years after slashing his salary by $1 million ($725,000) so he could pay his staff a minimum of $70,000 (£55,000) a year, Gravity Payments CEO Dan Price is urging other companies to follow suit.

Price made the decision following a conversation with his friend Valerie, who said that despite earning $40,000 (£31,000), the amount simply wasn’t enough to cover a combination of rent and bills in Seattle.

After crunching the numbers, Price worked out that to live comfortably in the area, his employees would need around $70,000 annually.

To allow that to happen, the CEO would need to take a significant pay cut, mortgage his two houses and part with stocks and savings. And that’s exactly what he did.”

 

Roy Ngerng

 

 

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READER COMMENTS BELOW

10 Responses to “CEO who took drastic pay-cut”

  • CCP: Crony Capitalist Pappy:

    Rising inequality and growing political instability are the direct result of decades of bad economic theory, says entrepreneur Nick Hanauer. In a visionary talk, he dismantles the mantra that “greed is good” — an idea he describes as not only morally corrosive, but also scientifically wrong — and lays out a new theory of economics powered by Reciprocity and Cooperation.

    https://m.youtube.com/watch?v=th3KE_H27bs

    “It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest. The real price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it.”

    (Adam Smith,”The Wealth of Nations”)

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  • xoxo:

    Me got a question.
    WHERE DID SGS’ $100 BILLION GO TO?
    Many humbler sgs like me received only $600.

    Mr SPEAKER ,SIR,next parleemen $ession when oppo asks ,can you DEMAND same to PAP
    the way you demanded PSP LMW to furnish actual figures of JOBLESS PMEs?

    We want to see you do your job without bias.

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  • Singaporeans R Free Riders:

    ah… Roy boy finally you are back writing something.

    How is ROc Taiwan democracy which you said is the best and proposed that Singapore adopt it ?

    Can you justify it for everyone here ?

    Facts #1 Democratic shut down media critical of Democratic fake degree lying President Tsai.
    關「中天」台灣新聞自由已死! NCC創惡例台灣成「一言堂」
    https://www.youtube.com/watch?v=erDwQ_E7eLc

    Facts #2 Democratic rigged the election. 為什麼民進黨要做票?
    https://www.youtube.com/watch?v=rMjXB84XSBw

    PAP supporters please print/distribute/share my post.
    In Dollar$ We Tru$t. Prai$e the Dollar$. Glory be with the Dollar$

    GE2024.PAP.Guarantee.Win.Again
    Majullah $PAP$ $PAP$ Huat$ Huat$ Huat$
    Singaporeans must be Cheaperer, Betterer, Fasterer

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  • common prosperity:

    Maybe we also need “common prosperity” policy here…

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  • Fund the retraining:

    One way to fund the on the job retraining of our underemployed PMETs to fill the so call 20,000 or more vacant good jobs is to setup a training fund and ask our billionaire etc to donate “voluntary” like that in China.
    The so call Vacant posts will be filled up in no time.

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  • Singaporeans R Free Riders:

    common prosperity:
    Maybe we also need “common prosperity” policy here…

    Common prosperity in Ang Mo Tus Kee language means welfare state.

    With common prosperity aka welfare state, it will encourage laziness..

    This is really bad for society….

    You work very hard and become rich. Will you share your hard efforts gains with the lazy and unmotivated peeps ?

    PAP supporters please print/distribute/share my post.
    In Dollar$ We Tru$t. Prai$e the Dollar$. Glory be with the Dollar$

    GE2024.PAP.Guarantee.Win.Again
    Majullah $PAP$ $PAP$ Huat$ Huat$ Huat$
    Singaporeans must be Cheaperer, Betterer, Fasterer
    Workers must accept wage sacrifices to keep businesses going.

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  • Zhenzidan:

    Singaporeans R Free Riders:
    ah… Roy boy finally you are back writing something.

    How is ROc Taiwan democracy which you said is the best and proposed that Singapore adopt it ?

    Can you justify it for everyone here ?

    Facts #1 Democratic shut down media critical of Democratic fake degree lying President Tsai.
    關「中天」台灣新聞自由已死! NCC創惡例台灣成「一言堂」
    https://www.youtube.com/watch?v=erDwQ_E7eLc

    Facts #2 Democratic rigged the election. 為什麼民進黨要做票?
    https://www.youtube.com/watch?v=rMjXB84XSBw

    PAP supporters please print/distribute/share my post.
    In Dollar$ We Tru$t. Prai$e the Dollar$. Glory be with the Dollar$

    GE2024.PAP.Guarantee.Win.Again
    Majullah $PAP$ $PAP$ Huat$ Huat$ Huat$
    Singaporeans must be Cheaperer, Betterer, Fasterer

    The ROC democracy has successfully controlled the covid spread in just a few months from a few hundred to now double or single digit. Your stupid PAP? From zero case in one of the days in July to now 1,000 in just two months!

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  • Singaporeans R Free Riders:

    Zhenzidan: The ROC democracy has successfully controlled the covid spread in just a few months from a few hundred to now double or single digit. Your stupid PAP? From zero case in one of the days in July to now 1,000 in just two months!

    ROC democracy has successfully controlled covid ?
    You are lying just like your ROC lying president Tsai who lied about her degree but is caught.

    And yes, I caught you lying and spreading fake news here….

    Hahaha, from double digit to single digit ?
    Show me where you pluck the numbers from ?

    Here is the real Covid 19 case in ROc.
    COVID-19 新冠病毒台灣疫情 本土增2例 累計死亡839例|2021/9/14 確診案例縣市分布圖
    https://www.youtube.com/watch?v=j-crR6DrRFA

    Zhenzidan is spreading fake news.

    PAP supporters please print/distribute/share my post.
    In Dollar$ We Tru$t. Prai$e the Dollar$. Glory be with the Dollar$

    GE2024.PAP.Guarantee.Win.Again
    Majullah $PAP$ $PAP$ Huat$ Huat$ Huat$
    Singaporeans must be Cheaperer, Betterer, Fasterer

    Tech: Please stop your nonsense about President Tsai’s supposed fake degree. The university has already addressed this. I have added this fake allegation of yours into the AMS, further comments from you containing President Tsai’s fake degree will be automatically deleted. Don’t say I didn’t warn you hor.

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  • Singaporeans R Free Riders:

    Hello TRE Techie and readers,
    Beware of those anti-vaxxer and fake news spreader (including democratic President Tsai and Zhenzidan)

    Please watch full video before you debate about it. And read Richardson report before you said my allegation is non sense.

    This is real news ..the hard truth.. ROC Taiwan said our Covid management is best.

    丹麥日增千例確診仍然完全解封 與病毒共存還是清零好? TVBS戰情室 20210918
    https://www.youtube.com/watch?v=j2na2637q-g

    PAP supporters please print/distribute/share my post.
    In Dollar$ We Tru$t. Prai$e the Dollar$. Glory be with the Dollar$

    GE2024.PAP.Guarantee.Win.Again
    Majullah $PAP$ $PAP$ Huat$ Huat$ Huat$
    Singaporeans must be Cheaperer, Betterer, Fasterer
    Workers must accept wage sacrifices to keep businesses going.

    GD Star Rating
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  • Harder Truths:

    You are talking about real streetsmart business people with heart, not textbook scholars promoted to communist leeders who live off the people as parasites. Big difference.

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