economy
February 17, 2026
Everyone Predicted His Bankruptcy
Dan Price decided to reduce his salary by one million dollars so that all employees in his company would have a salary of $70,000.
TL;DR
- Dan Price reduced his own salary by $1 million to ensure all employees at his company earned at least $70,000 annually.
- Critics predicted bankruptcy, but Price's company experienced growth, with the number of employees tripling.
- Price financed the salary increases by reducing his personal expenses, selling a house, and using savings.
- The company's employee turnover rate decreased by half, leading to increased customer service knowledge and company revenue.
- During the pandemic, employees voluntarily took pay cuts, enabling the company to recover from a 55% business loss within four months.
- Employees gifted Price a Tesla to express gratitude for his sacrifice and for making their dreams a reality.
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