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What is Dan Price’s net worth? Net Worth: $12 Million Occupation: Entrepreneur Country: USA Born: 13 May 1984 Salary (Annual): $70 thousand Last Update 2022 Dan Price is an American entrepreneur from Michigan who is the CEO of “Gravity Payments” with a net worth of $12 million. Gravity Payments is a credit card processing company he started in his SPU dorm room at age 19. In 2015, he drew global attention for raising his company’s minimum wage to $70,000 and cutting his own income from $1.1 million to $70,000. Price even claimed he rented his home to make ends meet after taking a $900,000 pay cut and raising his company’s base wage to $70,000. Unfortunately, his reputation was shattered when his ex-wife Christy accused him of domestic abuse during their marriage. His brother also sued him for oppressing minority shareholders. Price, however, prevailed upon his brother and denied beating his wife. But he quickly followed with more serious felony and assault charges. Between 2013 and 2022, he has been accused of multiple physical and sexual assaults. Most recently, he resigned as CEO of Gravity Payments on August 17, 2022, after pleading not guilty to petty assault and careless driving in May 2022. Early Life Daniel Joseph Price was born on 13 May 1984 in Michigan, USA. Ron Price, his father, worked as a self-employed consultant. He has three siblings: Lucas, Alex and Jesse. His family moved to Idaho and Price was home schooled until age 12. Price grew up in a strict Christian family. He learned to play bass guitar and founded “Straitford,” a Christian rock trio that was popular enough to tour and gain national attention. Price attended Christian Seattle Pacific University in 2004 and earned multiple business awards upon graduation in 2008. Career In 2001, Dan and his brother founded Gravity and hired their first employees in 2004. However, he fell out with his elder brother. Later they both decided that Dan would take over as the majority owner of Gravity. Price used her savings, credit card debt and student loans to help finance the business. As Gravity developed its own technology and internalized the card-processing infrastructure, the business expanded rapidly. But after the 2008 recession, the company’s revenue fell by 20%. In 2012, he increased his employees’ salaries by 20% while increasing productivity by 30% to 40%. The following year he increased his income by 20%. Once again the company achieved significant profits. The company had $150 million in revenue in 2014, with $7 billion in customer transactions. The company made a profit of $2.2 million, with 40% going to Price and Lucas as dividends. In 2015, he raised his company’s minimum wage to $70,000 and cut his income from $1.1 million to $70,000. He also raised the minimum wage for workers at ChargeItPro, a company bought by Gravity Payments in 2019. Price’s wage hike sparked a backlash in early 2021, particularly from Rush Limbaugh and several clients who accused him of socialism. In response, two Gravity Payments staff resigned in protest. On August 17, 2022, Price resigned as Gravity Payments CEO and Tammy Kroll, Gravity Payments’ chief operating officer, took over as CEO. Lawsuit against Price In 2015, Price’s brother Lucas filed a lawsuit against him. Price was accused of overpaying himself and robbing shareholders of profits, according to the suit. Dan Price was found not guilty on all counts 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. Following news that his ex-wife had accused him of domestic violence in a December 2015 Bloomberg Businessweek article, Price lost both his book deal and his representation with talent agency WME. In April 2020, he self-published his first book, Worth It. Price often posts liberal-leaning opinions on social media on social media. Some of his posts have gone viral as internet memes. Mike Rosenberg, a former Seattle Times writer, ghost-wrote most of his posts. Honors and Achievements Price’s leadership and entrepreneurship have earned him numerous accolades and awards, including Entrepreneur Magazine’s Entrepreneur of the Year in 2014 and President Obama’s 2010 SBA National Young Entrepreneur of the Year. In 2013, he was also named GeekWire’s Young Entrepreneur of the Year. Personal life Price married his high school girlfriend, Christy Llewellyn in 2007. They divorced in 2012 due to irreconcilable differences. According to Netline, the couple married after Price’s strict Christian parents told them to marry or divorce. Price currently resides in the Magnolia area of Seattle, Washington. Assault lawsuit against ex-wife Dan Price’s ex-wife Christy Colon said in 2015 that he threw, punched, slapped, body-slammed and waterboarded her while they were married. The University of Kentucky removed the video of his talk and information about him from the TEDx event website. Price’s attorneys told the university that Colon’s comments were defamatory. Colon issued a blog post in 2016 supporting her allegations but Price denied her allegations of abuse and said the events she described never happened. Arrest and Sexual Assault Price has been accused of physical and sexual assault on multiple occasions In 2013, he went to an Irish pub in Seattle and sat at a table with strangers. After being asked to leave the bar, Price assaulted the manager. He was arrested and charged with assault by police, however, the charges were eventually dropped. In April 2021, Price was investigated for raping a drugged victim. The case was later brought by Palm Springs police to local prosecutors. In February 2022, Price was again charged with assault after a woman accused him of trying to forcibly kiss her. Price’s attorney responded by denying the woman’s allegations. The sexual assault charge was eventually dismissed, and Price was found not guilty of the other two crimes. How much is Dan worth? Price has often said that his lifestyle has suffered as a result of his wage increase. Nevertheless, he owned many properties, including his primary residence in Magnolia, one of Seattle’s most prestigious neighborhoods. A 3,400 square foot home with gorgeous Puget Sound views and a large pool is valued at $2 million. He also owns a 36′ Cobalt boat. A comparable yacht from 2009 was listed for sale in Seattle for more than $300,000, the report said. Price told Inc. in a 2015 cover story interview. Kay said she sold all her stocks, drained her retirement accounts and mortgaged two homes she owned, including a $1.2 million home in Washington, to raise $3 million for the Gravity Payments. A search of property records revealed that Price did not have a mortgage on his residence at the time, which he confirmed in a 2016 court declaration. She also told the Today Show that she only rents out her home during the summer and that her decision was not based entirely on financial need. . According to Dan Price Net Worth 2022, Dan Price’s net worth is estimated to be $12 million. The bulk of his income comes from his company Gravity Payments. From 2010 to 2015, Price earned salaries ranging from $700,000 USD to $1.1 million. Later, he decided to increase his salary to $70,000 USD per year in 2015. After the salary increase was announced, Price became a celebrity, appearing on multiple television and magazine cover stories and earning at least $10,000 at each public speaking event. His fortunes seem to have declined following multiple misdemeanor charges of assault and reckless driving, and he recently resigned as CEO of Gravity Payments on August 17, 2022.
