Video: Legendary boss bumps up everyone’s wage to £50,000 a year

We have just found the world's most legendary boss.

Entrepreneur Dan Price is bumping up the minimum wage for all of his staff to a staggering $70,000 (around £47,000). Every single one of the 120 staff at his firm Gravity Payments, which is Washington state's largest credit card payment processor, will get that dream raise. "Has this guy lost his marbles?", we hear you cry. Well, according to The New York Times, Dan’s idea to raise his company’s minimum wage to the impressive sum started when he read a study on happiness that claimed extra money makes a big difference to people’s satisfaction if they earn less than $70,000 a year. After announcing the news to his staff on Monday, Price said: “Is anyone else freaking out right now? I’m kind of freaking out.” So how is he going to find the extra cash to pay the 30 employees whose salaries he's doubling? Well, Price, who started the company in 2004 at the age of just 19, said he plans to cut his own salary from $1m to $70,000, while also using between 75-80 per cent of the company’s projected $2.2m profit this year. What an absolute legend. Take note, bosses of the world... https://youtu.be/gVUESuFSdaA