CEO who gave all his employees minimum $70,000 paycheck thriving six years later

A CEO, who, six years ago raised the minimum annual salary of his employees to $70,000, has said his company is "thriving".

Dan Price of Gravity Payments chose to raise the salaries of his workers after discovering one of his employees had been secretly working a second job at McDonald's to live.

In order for him to raise the wages, he cut his own salary by $1.1million, paid himself the same as his workers and sold his second home.

But instead of the economic gloom and doom that was predicted for him, the company and its workforce, by all metrics, has thrived.