CEO Famous For Cutting His Salary To Give Staff $70K Min Wage Accused Of Sexual Assault
Bo Banks
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Seattle tech CEO Dan Price was notoriously known for cutting his own salary so he could give his employees a much higher base pay.
Now, he finds himself in the middle of allegations for sexual assault.
Several years ago, Price gave up a $1.1 million dollar salary at Gravity Payments for $70,000 per year. He did this so he could raise the starting salary for his employees to $70,000 as well. And often flaunted this move on Twitter.
He also emptied his retirement accounts to make it work for his credit card processing firm.
Price was also often touted as a champion of progressive issues, leading a workforce that lined itself with feminist values amongst others.
With that said, The New York Post just reported that Price has stepped down from his role as CEO while he is facing charges for allegedly assaulting a 26-year-old woman.
“My No. 1 priority is for our employees to work for the best company in the world, but my presence has become a distraction here,” Price shared on Twitter. “I also need to step aside from these duties to focus full time on fighting false accusations made against me. I’m not going anywhere.”
— Dan Price (@DanPriceSeattle) August 18, 2022
Outlets like The New York Times ran a piece about this fallout from the social justice pioneer, arguing that social media is what led to Price’s eventual downturn.
And that is his primary path for luring women.
"Just as social media can ruin someone, so too can it — through time, persistence and audacity — bury a troubled past."
Social Media Was a C.E.O.’s Bullhorn, and How He Lured Womenhttps://t.co/mAqKFJHA11
— Noah Higgins-Dunn (@higginsdunn) August 19, 2022
Per the Times:
On Monday, the police in Palm Springs, Calif., said they had referred Ms. Margis’s case to local prosecutors, recommending a charge of rape of a drugged victim. Prosecutors in Seattle earlier this year charged Mr. Price with assault in another incident.
After responding to questions earlier in the day from The New York Times, Mr. Price tweeted that he had resigned on Wednesday evening as chief executive of his company, Gravity Payments. He wrote that he had become a “distraction” and needed to “focus full time on fighting false allegations made about me.”
Price is denying these allegations, saying that he “never physically or sexually abused anyone,” and that “the other accusations of inappropriate behavior towards women in this story are simply false.”
It’s worth noting that stories like this one seem to happen to larger-than-life figures like Price. Especially amongst those who classify themselves as champions of social justice causes and equity.
Though none of these new allegations are confirmed, it’s interesting to think someone who was posed as a successful leader and prime example for the left has quickly morphed into a person who used his power and influence to take advantage of women.
Watch how the corporate press has quickly turned on Price amid these accusations.
As The Post reported: “Earlier this year, Seattle prosecutors charged Price with misdemeanor assault and reckless driving after he allegedly attempted to kiss the woman following a business meeting and then grabbed her by the throat when she rejected his advances.”
We will report more on this story as more information becomes available.
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