CEO who gave staff £45,000 minimum wage forced to rent out his house

The American CEO who raised every one of his 120 employees wage to a minimum £45,000 ($70,000) has run into hard times, after cutting his own salary to help fund the pay boost.

Dan Price, Chief Executive of Seattle-based credit card processing firm Gravity Payments, has sparked both criticism and praise with his remarkable decision to breach the staff pay gap. Price lowered his own $1million salary by 90% to help compensate workers.