• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Billionaires Elon Musk and Mark Zuckerberg used mortgages to buy multimillion-dollar mansions. Here’s why that’s a savvy financial decision

2

AI CEOs from OpenAI, Anthropic, and Microsoft set aside their rivalry to warn Congress AI is making it too easy to design and create bioweapons

3

Social Security faces a 24% cut in 2032—that's a $345 billion hit to retirees nationwide, watchdog says

1

Billionaires Elon Musk and Mark Zuckerberg used mortgages to buy multimillion-dollar mansions. Here’s why that’s a savvy financial decision

2

AI CEOs from OpenAI, Anthropic, and Microsoft set aside their rivalry to warn Congress AI is making it too easy to design and create bioweapons

3

Social Security faces a 24% cut in 2032—that's a $345 billion hit to retirees nationwide, watchdog says
FinanceRide-Hailing

Minneapolis is pushing through a ride-share minimum wage and Lyft claims it will hurt drivers because ‘only the most wealthy could still afford a ride’

By
Trisha Ahmed
Trisha Ahmed
and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Trisha Ahmed
Trisha Ahmed
and
The Associated Press
The Associated Press
Down Arrow Button Icon
August 17, 2023, 2:30 PM ET
Cars drive past Minneapolis City Hall, June 28, 2023.
Cars drive past Minneapolis City Hall, June 28, 2023.Trisha Ahmed—AP

Minneapolis City Council members narrowly passed a measure on Thursday that would establish a minimum wage for drivers of Uber, Lyft and other ride-share companies in the city.

Recommended Video

The mayor can still veto the measure.

Many of the drivers are African immigrants who have been pushing for higher wages at the state and city levels for several months.

Under the measure, drivers would be paid at least $1.40 per mile and $0.51 per minute, or $5, whichever is greater. The rule would only apply for the portion of the ride within the city.

Members of the Democratic-dominated City Council, which voted in support of the measure 7-5, said they want to increase drivers’ wages as soon as possible so the drivers can afford their lives. Members also said they are voting in support to stand against the exploitation of workers by big companies like Uber and Lyft.

Those who voted in opposition said the measure needs more work — the mayor might veto it, and the measure could cause Uber and Lyft to increase their prices for consumers which would hurt people with low incomes who depend on rides from those companies for transportation.

Uber and Lyft have both released statements in opposition to the measure.

“If it becomes law, drivers would ultimately earn less because prices could double and only the most wealthy could still afford a ride,” Lyft said in a statement after the vote.

It continued, “We support a minimum earning standard for drivers, but it should be part of a broader statewide solution that also protects driver independence. That’s why we urge Mayor Frey to veto this bill and instead allow time for the state’s rideshare task force to complete its research.”

In May, Minnesota Democratic Gov. Tim Walz vetoed a bill that would have mandated higher pay and job security for Lyft and Uber drivers in the state. Walz said at the time that ride-share drivers deserve fair wages and safe working conditions, but it wasn’t the right bill to achieve those goals.

Ride-hailing drivers, like other gig economy workers, are typically treated as independent contractors not entitled to minimum wages and other benefits, and have to cover their own gas and car payments.

About the Authors
By Trisha Ahmed
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

boomer
EconomyRetirement
‘The golden years are not golden’: Boomers are hoarding most of America’s wealth and power because they’re terrified of outliving their money
By Nick LichtenbergJune 7, 2026
32 minutes ago
retirement
CommentaryRetirement
Retiring at 62 costs the average American $250,000. Here’s the math (and the neuroscience) that explain why
By Jon SabesJune 7, 2026
2 hours ago
Pastel colored sky casting shadows over the colorful houses and behind Sutro Tower.
Real EstateHousing
This realtor is betting big on the AI IPO boom, but buying a house with stock will have to go through the OpenAI’s and Anthropic’s boards first
By Jacqueline MunisJune 7, 2026
3 hours ago
The Strait of Hormuz is more open than previously thought as the U.S. shoots down Iranian drones threatening ships and provides ‘naval overwatch’
EnergyIran
The Strait of Hormuz is more open than previously thought as the U.S. shoots down Iranian drones threatening ships and provides ‘naval overwatch’
By Jason MaJune 6, 2026
9 hours ago
Here’s where U.S. debt may become unsustainable with interest payments triggering a default crisis that even steep tax hikes can’t fix
EconomyDebt
Here’s where U.S. debt may become unsustainable with interest payments triggering a default crisis that even steep tax hikes can’t fix
By Jason MaJune 6, 2026
13 hours ago
Oil drilling rises in longest U.S. streak since 2022 on price bump
EnergyOil
Oil drilling rises in longest U.S. streak since 2022 on price bump
By Emma Sanchez and BloombergJune 6, 2026
15 hours ago

Most Popular

Billionaires Elon Musk and Mark Zuckerberg used mortgages to buy multimillion-dollar mansions. Here’s why that’s a savvy financial decision
Real Estate
Billionaires Elon Musk and Mark Zuckerberg used mortgages to buy multimillion-dollar mansions. Here’s why that’s a savvy financial decision
By Sydney LakeJune 6, 2026
1 day ago
AI CEOs from OpenAI, Anthropic, and Microsoft set aside their rivalry to warn Congress AI is making it too easy to design and create bioweapons
AI
AI CEOs from OpenAI, Anthropic, and Microsoft set aside their rivalry to warn Congress AI is making it too easy to design and create bioweapons
By Marco Quiroz-GutierrezJune 5, 2026
2 days ago
Social Security faces a 24% cut in 2032—that's a $345 billion hit to retirees nationwide, watchdog says
Economy
Social Security faces a 24% cut in 2032—that's a $345 billion hit to retirees nationwide, watchdog says
By Nick LichtenbergJune 5, 2026
2 days ago
The Strait of Hormuz is more open than previously thought as the U.S. shoots down Iranian drones threatening ships and provides 'naval overwatch'
Energy
The Strait of Hormuz is more open than previously thought as the U.S. shoots down Iranian drones threatening ships and provides 'naval overwatch'
By Jason MaJune 6, 2026
9 hours ago
Here's where U.S. debt may become unsustainable with interest payments triggering a default crisis that even steep tax hikes can't fix
Economy
Here's where U.S. debt may become unsustainable with interest payments triggering a default crisis that even steep tax hikes can't fix
By Jason MaJune 6, 2026
13 hours ago
Trump says 'situation with Iran seems to be going quite well' while U.S. shoots down more missiles and drones near Strait of Hormuz
Politics
Trump says 'situation with Iran seems to be going quite well' while U.S. shoots down more missiles and drones near Strait of Hormuz
By Michelle L. Price, Samy Magdy and The Associated PressJune 6, 2026
21 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.