Robin Hood of modernity from Gravity Payments blundered

Dan Price, CEO of Gravity Payments, became a media star in April of this year when he raised the minimum wage of his company's employees to $ 70,000 a year, and for this he generously donated part of his own remuneration. However, recently it turned out that Robin Hood pays three times more than it should.

In April, Dan Price argued his action by the fact that the results of the research he studied revealed a relationship between improving the mental state of workers and raising wages. Studies have revealed that those people who received less than 75 thousand dollars a year, become much happier if they start earning more.

In addition to the positive comments and enthusiasm of the press, the increase in the company's minimum wages was also caused by disapproval by those workers who initially received more than $ 70,000, but their wages did not affect them. Two employees even quit, expressing disagreement with unbalanced company policies. Six months later, Mr. Price announced that the tactic had proved itself very well. Despite the fact that the company has lost some customers due to all the hype that has been raised, in general, the customer retention rate increased from 91% to 95%. Two weeks after the application for a salary increase, about 4,500 specialists sent their resumes to the company, and the monthly number of new customer requests rose from 30 to 2000.
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However, some facts crawled out, which tarnished Dan Price's reputation. As it turned out, Robin Hood of modernity (as the media called him) amid worries about raising the minimum wage for company employees did not forget about his beloved: Price long ago appointed himself a monthly remuneration that is three times higher than the salaries of general directors of companies of similar scale same industry branch. Dan's brother, who is also a co-founder of Gravity Payments, owning a 30% stake in the company, has tried for years to fight this trend and eventually sued his brother.