Dan Price net worth


What is Dan Price’s net worth?

Net Worth: 12 million dollars
job: entrepreneur
country: USA
bear: May 13, 1984
Salary (annual): $70,000
last update 2022

Dan Price is an American entrepreneur from Michigan who is the CEO of “Gravity Payments” who has a net worth of $12 million. Gravity Payments is a credit card processing company that started at the age of 19 in SPU dorms.

In 2015, he gained worldwide attention by raising the company’s minimum wage to $70,000 and lowering his minimum wage. own income from $1.1 million to $70,000. Price claimed that he rented the house to make a living after taking a $900,000 pay cut and raising the company’s base salary to $70,000.

Unfortunately, his reputation was shattered when his ex-wife Kristie accused him of domestic violence during their marriage. His older brother also sued him for oppressing minority shareholders. Although Price beat his brother and never denied it beating his wife.

However, he soon faced more felony and assault charges. Between 2013 and 2022, he was charged with multiple physical and sexual assaults. very recently he Gravity Payment CEO resigns 17 August 2022 after pleading not guilty of minor assault and careless driving in May 2022.

early life

Daniel Joseph Price was born on May 13, 1984 in Michigan, USA. His father, Ron Price, worked as a self-employed consultant. He has three brothers: Lucas, Alex and Jesse. His family moved to Idaho, and Price was homeschooled until the age of 12.

Price was brought up in a strict Christian family. He learned to play bass guitar and founded “Straightforward”, a Christian rock trio that was popular enough to receive national attention.

Price studied at Christian Seattle Pacific University in 2004 and has received several business awards after graduating in 2008.

job

In 2001 Dan and his brother founded Gravity and hired their first employee in 2004. However, a few years later he had a bad relationship with his older brother. They both decided to be acquired by Dan as a major shareholder in Gravity.

Price used his savings, credit card debt, and student loans to finance his business. As Gravity developed its own technology and internalized its card processing infrastructure, the business expanded rapidly. However, the company’s revenue has declined by 20% since the 2008 recession.

In 2012, he increased employee salaries by 20% and increased productivity from 30% to 40%. He increased his earnings by 20% the following year. Once again, the company has made significant profits.

In 2014, the company had revenues of $150 million and customer transactions of $7 billion. The company also made $2.2 million in revenue, 40% of which is paid out as dividends to Price and Lucas.

In 2015, he increased the company’s minimum wage to $70,000 and reduced income from $1.1 million to $70,000. He also raised the minimum salaries for all ChargeItPro employees acquired by Gravity Payments in 2019.

Price’s wage increase provoked backlash in early 2021, particularly from Rush Limbo and several customers who denounced him as a socialist. Two Gravity Payments employees resigned in protest.

On August 17, 2022, Price resigned as CEO of Gravity Payments. Tommy Kroll, Gravity Payments’ Chief Operating Officer (COO) has taken over as CEO.

lawsuit over price

In 2015, Price’s brother Lucas sued him. According to the lawsuit, Price is charged with overpaying him and extorting the interests of shareholders. Dan Price was acquitted of all charges by King County Superior Court Judge Theresa B. Doyle in 2016.

other works

Price agreed to a $500,000 book deal with Viking Press in 2015. After news broke in a December 2015 Bloomberg Businessweek article that his ex-wife had accused him of domestic violence, Price lost both his book deal and representation with entertainment agency WME.

In April 2020, he published his debut book Worth It himself. Price frequently posts liberal views on social and economic issues on social media. Some of his posts went viral as internet memes. Former Seattle Times writer Mike Rosenberg wrote most of his posts as ghosts.

honor and achievement

Price’s leadership and entrepreneurial spirit have earned him numerous honors and awards, including Entrepreneur Magazine’s Entrepreneur of the Year in 2014 and President Obama’s SBA National Young Entrepreneur of the Year in 2010. In 2013 she was also named GeekWire’s Young Entrepreneur of the Year.

personal life

Price married high school girlfriend Christie Llewellyn in 2007. The two divorced in 2012 after an irreconcilable disagreement. According to Netline, the couple got married after Price’s strict Christian parents asked them to either marry or separate. Price currently resides in the Magnolia area of ​​Seattle, Washington.

ex-wife assault case

Dan Price’s ex-wife Kristie Colón said in 2015 that they threw her, punched her, beat her, slapped her, and played in the water while they were married. The University of Kentucky removed the video of her speech and information about her from her TEDx event website.

Price’s lawyers informed the university that Colon’s remarks were defamatory. Colón posted a blog post supporting her accusations in 2016, but Price denied the allegations of abuse and said the incident she was talking about never happened.

Arrest and rape

Price has been charged with multiple physical and sexual assault charges. In 2013, he went to an Irish pub in Seattle and sat down at a table with strangers. When asked to leave the bar, Price assaulted his manager. He was arrested by the police and charged with assault, but was eventually acquitted.

In April 2021, Price was charged with raping a drugged victim. The case was later handed over to local prosecutors by the Palm Springs Police.

In February 2022, Price was again charged with assault by a woman forcing her to kiss him. Price’s lawyers responded by denying the woman’s allegations. Her sexual assault charges were eventually dismissed, and Price pleaded not guilty to two other crimes.

What is Dan Price’s Real Worth?

Price often said that the raises made his lifestyle difficult. Nevertheless, he owned many real estate properties, including his main residence in Magnolia, Seattle’s most famous neighborhood. A marvel of 3,400 square feet with spectacular views of Puget Sound and a large $2 million swimming pool.

He also owns a 36ft cobalt boat. Reportedly, a similar 2009 yacht was listed for sale in Seattle for well over $300,000.

In a 2015 cover story interview, Price said that he sold all his stock, exhausted his retirement account, and raised $3 million for Gravity Payments by collateralizing two of his homes, including a $1.2 million home in Washington. said to Inc.

A search of real estate records revealed that Price was not mortgaged on his residence at the time, as confirmed in a 2016 court declaration.
He also told The Today Show that he rents a house only in the summer, and that his decision was not entirely based on financial need.

Dan Price net worth

As of 2022, Dan Price’s net worth is estimated at $12 million. Most of his income comes from his company Gravity Payments. From 2010 to 2015, Price earned a salary between $700,000 USD and $1.1 million. Later, he decided to reduce his 2015 salary to $70,000 USD.

After the announcement of the salary increase, Price became a celebrity, appeared on several TV and magazine cover articles, and is said to have made at least $10,000 at every public speaking event.

His fortune appears to have fallen on several misdemeanor charges of assault and reckless driving, and he recently resigned as CEO of Gravity Payments on August 17, 2022.

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