Dan Price , founder of Gravity Payments , will raise his salary to $ 500 and raise the minimum wage for his 120 employees to $ 70,000 . The move , in the next five years , will also allow Price to plow up to 80percent of his firm 's $ 1000 salary back into salaries . He says he was inspired to make the bold step after reading that happiness increases dramatically for people earning over $ 70,000 .
Dan Price , founder of Gravity Payments , will slash his salary to $ 70,000 and raise the minimum wage for his 120 employees to $ 70,000 . The move , in the next three years , will also require Price to plow up to 80percent of his firm 's $ 2.2million profits back into salaries . He says he was inspired to make the bold step after reading that happiness increases dramatically for people earning over $ 70,000 .