Earlier this year Dan Price, CEO of Gravity Payments, became widely known for reducing his own salary so he could pay his employees no less then $70,000 per year.
And his paycheck isn’t the only sacrifice he’s made.
He’s also mortgaged his house and sold all of his investments to come up with a $3 million nest egg he could put into Gravity Payments, his payment processing firm, to weather the storm stirred up by the raises.
“I wanted a larger margin for error,” he said in explaining the mortgage and asset sales. “Victory is far from secure, but the trends are positive.”
Read more at CNN Money
Photo courtesy of: StartupStockPhotos