So Money - Episode 1032

Dan Price

CEO, Gravity Payments

As CEO of his company, Dan Price went from earning $1 million a year to $70,000 to now $0…as his business Gravity Payments struggles to stay afloat amidst the current economic crisis

You may remember Dan who joined us here on the show back in 2015 to share news of how he’d raised the minimum salary at his company to $70,000 and he, himself taking a massive pay cut to $70,000.

Now, facing a 55% drop in revenue in a matter of weeks, Gravity Payments, like so many businesses, had to make quick financial decisions to avoid bankruptcy…rather than layoff his employees, as many businesses do and have done…Dan has managed to keep everyone on staff…with a unique strategy, he’s here to talk about…and something I think can be a lesson for many employers.

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