On Monday, the founder of Gravity Payments, Dan Price, announced that he would raise all of his 120 employees' wages to a base of $70,000 a year. This decision came after Price read an article explaining that a salary increase for employees making less than $70,000 can lead to a great deal of happiness. This wage increase will cost the company an additional $2.2 million per year. Price has even decided to reduce his current salary of $1 million to $70,000.
See "Owner of a Credit Card Processor Is Setting a New Minimum Wage: $70,000 a Year", Patricia Cohen, The New York Times, April 13, 2015