Employees just bought a Tesla for their CEO because he raised minimum salaries to $70,000

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Gravity Payments CEO Dan Price
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Gravity Payments

Employees at Gravity Payments saved up for months and on Thursday presented their CEO, Dan Price, with his dream car, a Tesla, according to photos he shared on his public Facebook page.

Price gained national attention when he raised all of his 120 employees’ salaries to a minimum of $70,000.

The change was said to double some employees’ annual wages and slash his own compensation from $1.1 million to $70,000. He was hailed as a hero.

But then a report by 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, Price’s brother claimed that Dan paid himself excessively for a number of years.

Last week, Dan won the suit, Geekwire’s Todd Bishop reports. Bishop was also the one to spot his Facebook post about the Tesla.

Whatever Price’s motives, many Gravity employees were thrilled with their boss’ decision to grant them such big raises and showed their appreciation in a big way.

“Gravity employees saved up and pitched in over the past six months and bought me my dream car. A brand new, gorgeous blue #Tesla‬. Still in shock. How do I even begin to say thank you?” Price wrote.

A Tesla Model S starts at $70,000.

He was so moved, he burst into tears when they presented him with the gift.

Here’s a video that shows the car and his reaction.

Here’s the Facebook post that shows off the car they bought him: