Gravity Payments

Ghostbusters: Solving faith mystery of CEO who cut his $1 million salary to pay employees more

Ghostbusters: Solving faith mystery of CEO who cut his $1 million salary to pay employees more

Back in April, we spotted a holy ghost in the coverage of a Seattle CEO.

As you may recall, Gravity Payments founder Dan Price cut his own $1 million salary to pay all his employees at least $70,000 a year.

That post asked:

Could Price's weirdness have something to do with his Christian faith, if, as I am assuming, he is a Christian? A blurb on Seattle Pacific's website says one of the books that influenced him was"Rich Christians in an Age of Hunger."
My quick Googling didn't turn up any news reports that mention Price's religion. Nonetheless, I can't help but think a holy ghost might be haunting this story.

Three-plus months later, a GetReligion reader points us to an update from the New York Times.

Thank you for the tip, Christopher!

I must agree: This in-depth piece does a nice job of solving the faith mystery.

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CEO cuts his $1 million salary to pay all employees at least $70,000 — is media missing religion angle?

CEO cuts his $1 million salary to pay all employees at least $70,000 — is media missing religion angle?

You may have heard about the Seattle CEO who cut his own $1 million salary to pay all his employees at least $70,000 a year.

In case you missed it, here's how The New York Times reported the news last week:

The idea began percolating, said Dan Price, the founder of Gravity Payments, after he read an article on happiness. It showed that, for people who earn less than about $70,000, extra money makes a big difference in their lives.
His idea bubbled into reality on Monday afternoon, when Mr. Price surprised his 120-person staff by announcing that he planned over the next three years to raise the salary of even the lowest-paid clerk, customer service representative and salesman to a minimum of $70,000.
“Is anyone else freaking out right now?” Mr. Price asked after the clapping and whooping died down into a few moments of stunned silence. “I’m kind of freaking out.”
If it’s a publicity stunt, it’s a costly one. Mr. Price, who started the Seattle-based credit-card payment processing firm in 2004 at the age of 19, said he would pay for the wage increases by cutting his own salary from nearly $1 million to $70,000 and using 75 to 80 percent of the company’s anticipated $2.2 million in profit this year.

So why do I bring up this business story at GetReligion?

Well, in the above video, doesn't Price look a whole lot like Jesus?

Seriously, did you notice the name of the CEO's alma mater? 

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