Seattle Business Owner Raises His Workers' Minimum Pay to $70,000

April 14, 2015 10:03 PM

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A Seattle entrepreneur on Monday delivered a startling message to his employees — he is raising the minimum pay for all of his employees to $70,000, while reducing his own pay to the same amount from about $1 million.

Dan Price, the founder of Gravity Payments, said he increased the minimum pay to $70,000 because of concerns about income inequality — and also because he wants his workers to not have to worry about basic needs.

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