Employees gift their CEO his dream car | HT Tech

Employees gift their CEO his dream car

Employees buy Tesla for CEO, who raised their wages to minimun $70,000

| Updated on: Jul 15 2016, 12:27 IST
image caption
Employees buy Tesla for CEO, who raised their wages to minimun $70,000 (Facebook)

Dan Price gained worldwide attention when he raised wages of 120 of his emloyees to a minimum of $ 70,000 in a year. According to reports, his employees saved up for months to buy their CEO their dream car -- a Tesla.

It was believed that he even doubled some employees' annual wages and slashed his own compensation from $1.1 million to $70,000.

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However, according to Bloomberg Business' Karen Weise suggested that he may have made the unusual move as a reaction to a costly lawsuit served to him by his older brother, who owns about 30% of Gravity. In the suit, the brother claimed that Price paid himself excessively for a number of years.

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Whatever might the motives be behind the raise, many Gravity employees were overwhelmed with their Bosses' decision to grant them such big raise. Therefore, they got him his dream car.

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First Published Date: 15 Jul, 12:13 IST