CEO Hits Back At Fox News After They Derided Him For Offering 70K Minimum Salaries
Written by Huffingtonpost on April 13, 2021
The final six years have been an extended unusual journey for CEO Dan Worth.
Again in 2015, the tech entrepreneur shocked the enterprise world by slashing his personal $1.1 million pay bundle to assist fund a minimal “residing wage” of $70,000 for all employees at his bank card processing firm Gravity Funds.
Worth’s choice led to him being closely criticized as a “socialist” on Fox Information and Fox Enterprise. As well as, some purchasers dropped Gravity for causes that included fears the wage hike would trigger their charges to rise.
However within the years since, Worth has been hailed as successful by Harvard Enterprise Faculty and Inc. journal, which famous the variety of staff at Gravity has doubled whereas the worth of funds that the corporate processes has gone from $3.eight billion a yr to $10.2 billion.
On Tuesday, Worth referenced this success in a viral Twitter thread and video that took goal at his conservative critics, significantly Fox.
It hasn’t all been a easy experience, Worth admitted.
He additionally defined what impressed his choice to chop his personal wage to $70,000 a yr and lift pay for employees, saying the invention that an worker was secretly working a second job at McDonald’s made him notice he was an “terrible CEO.”
Though he took a drastic pay reduce, Worth stated he doesn’t miss the “millionaire way of life” one bit.
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