Dan Price, the CEO and founder of Seattle’s Gravity Payments has announced that he will be cutting his 1 million US dollar yearly salary to $70,000 US so that he can raise the minimum salary of each employee to the same figure. 

Price’s decision was made after conversations he’d had with others about how difficult it can be to make ends meet on a minimum salary is. He also read a report about how for those paid less than $75,000 US an increase in salary improves their quality of life. 

Price, who started the company when he was 19 in 2004, now has 120 people in his company who were earning an average of $48,000 US. 

Elite Daily