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Home»Fintech»Payments firm CEO who set 70k minimum wage resigns amid misconduct allegations
Fintech

Payments firm CEO who set 70k minimum wage resigns amid misconduct allegations

August 19, 2022No Comments2 Mins Read
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Payments firm CEO who set 70k minimum wage resigns amid misconduct allegations
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The CEO who was lauded in 2015 for rolling out a $70,000 minimal wage at his funds processing agency has resigned after accusations of assault involving a number of girls.

Within the wake of an in depth New York Occasions investigation, Dan Value posted an announcement on Twitter saying he has resigned from Gravity Funds, the agency he based 18 years in the past, to “focus full time on preventing false accusations made towards me”.

In keeping with the Occasions, a lady has accused Value of raping her whereas she was below the affect of medication. Police have referred the case to prosecutors though no prices have but been filed.

A number of different girls say Value filmed them having intercourse with out their data, whereas one other girl, Kacie Margis, say Value penetrated her after she declined intercourse.

In January, a lady advised police that when she resisted Value’s try and kiss her, he grabbed her throat. Value has been charged with misdemeanour assault and reckless driving in reference to the incident. He pleaded not responsible, and the case stays ongoing.

Value gained notoriety in 2015 when he vowed to pay all members of his 120 person-strong staff not less than $70,000. To pay for the transfer, Value stated he would slash his personal wage from practically $1 million to the $70,000 determine and committing as much as 80% of the privately owned firm’s income for the yr.

In keeping with the New York Occasions, Value determined to take the dramatic step after studying an instructional article on happiness that discovered that emotional well-being rises with earnings up till about $75,000 a yr however that after that time there aren’t any additional positive aspects.

See also  Stripe slashes valuation by 28%

The transfer made headlines and helped propel Value into social media stardom, utilizing his platform to ceaselessly opine on company greed, psychological well being, equality and girls.

Questions on Value’s behaviour return to the time of his minimal wage announcement. In December 2015, Bloomberg reported that his ex-wife Kristie Colón used a videotaped TEDx discuss to say she had been crushed and waterboarded by her ex-husband. Colón didn’t title Value, who advised Bloomberg that the abuse “by no means occurred”.

Saying his resignation within the wake of the most recent allegations, Value concludes: “I am not going anyplace.”

pic.twitter.com/yMsR8htUg8

— Dan Value (@DanPriceSeattle) August 18, 2022



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