CEO Dan PriceTook Pay Cut to Raise Salaries
When CEO Dan Price raised the minimum wage to $70,000 at his small business in April, the story went viral, and Gravity Payments, a Seattle company that processes credit card payments, became an overnight household name.
Price dropped his salary from about $1 million to $70,000 in order to increase pay for many of his employees.
In the weeks that have followed, Price has received hundreds of messages — some from CEOs who followed suit with similar moves and others from critics who feel the decision will destroy Price's company.
Of all the notes that he has received, the most striking to Price was a stack of 33 letters — delivered by mail — from a class of sixth graders at Woodbury Elementary School in Irvine, California.
