Dan Price is an American businessman known as the CEO of the company Gravity Payments. He has about 263k followers on his Instagram account, having the username @danpriceseattle. He has 696.5k followers on his Twitter account.
Who Is Dan Price?
Dan Price was born on 14 May 1984 in Southwest Idaho and is currently 37 years old. He stands at the height of 5 feet 9 inches and has the perfect weight for his body type. He is currently 37 years old.
Dan Price resides in the Magnolia district of Seattle, Washington, USA. He is famous for being the founder of Gravity Payments’ credit card processing firm.
Who Is Dan Price Parents?
Dan Price’s father’s name is Ron Price, and his mother’s name is unknown. He was raised along with his three brothers named Lucas, Alex, and Jessie in an orthodox Protestant Christian family.
He was also homeschooled until he was 12 years old and is the youngest of three children. His father, Ron Price, was a self-employed consultant.
Is Dan Price Married?
Dan Price married his high school sweetheart named Kristie Lewellyn, in 2007. However, the couple ended their marriage in 2012, citing irreconcilable differences as their reason for divorce. Initially, the couple got married because Dan’s parents demanded to marry or end their relationship when Kristie was just 20 years old.
When Kristie accused Dan of being abusive, there was no doubt that their divorce wasn’t a friendly one. She claimed that Dan got mad at her for ignoring him, threw her to the ground, and got on top of her. He also punched her in the stomach and slapped her across the face.
However, Dan denied Kristie’s allegation against him and released a statement to The Guardian saying that people in the public eye were subject to speculation and criticism. It could be fair or not sometimes. He added that the story in Businessweek contained reckless accusations and baseless speculations that were unequivocally false.
What Is Dan Price’s Net Worth?
Dan Price’s estimated net worth is $12 million. His salary in 2015 was $1.1 million as the CEO of his company, Gravity Payments. However, he lowered his own salary from $1.1 million to $70,000 in 2015 to raise his company’s minimum wage to $70,000.
Dan had shared that he was happier than ever with his decision to slash his salary and other employees back in 2015. He added that the disparity of power between the wealthiest and the most powerful and everybody else had continued to grow alarmingly.
Dan was also suggested to do his business more traditionally to do more philanthropy after being rich, but Dan strictly opposed his suggestion and said that relying on billionaire philanthropists for so long hadn’t worked out well for all people.
Dan had also tweeted about his company’s growth since his decision and wrote that they started their $70K min wage with about 130 employees in Seattle and worked so well that they expanded it to a new Boise office where the cost of living was lower, but people deserved good pay.
Moreover, Dan also tweeted how his company’s revenue tripled in six years and mentioned how Fox News called him a socialist, putting his employees on bread lines. He wrote,
“Since then our revenue tripled, we’re a Harvard Business School case study & our employees had a 10x boom in homes bought. Always Invest in people.”
6 years ago today I raised my company’s min wage to $70k. Fox News called me a socialist whose employees would be on bread lines.
Since then our revenue tripled, we’re a Harvard Business School case study & our employees had a 10x boom in homes bought.
Always invest in people. pic.twitter.com/o7Ca7I4b7e
— Dan Price (@DanPriceSeattle) April 13, 2021
He also tweeted the results of their $70k min wage as he listed that 76% of employees were engaged at work which was 2x the national average.
He added that customer attrition fell to 25% below the national average, and their highest-paid employee made 4x their lowest-paid employee, down from 33x.
What Is Dan’s Business?
Dan Price is an American entrepreneur and CEO of a company called Gravity Payments. He started Gravity with his brother in 2001, and they hired their first employee in 2004. After some years, Dan was chosen to become the majority owner of Gravity, and he founded the company with his savings, credit card debt, and student loans.
The company grew rapidly with its own technology and in-house card-processing systems. The company’s revenue was $150 million in 2014 with $7 billion in customer transactions. They reportedly recorded a $2.2 million profit, but Dan received mainstream attention when he raised his company’s minimum wage to $70k and slashed his salary from $1.1 million to $70k in 2015.
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His company faced tough times due to the coronavirus pandemic, but the stakeholders made sacrifices to keep the company running. Dan had shared with The Washington Post that they acknowledged their humanity and the vital role in their business, and they had outperformed themselves every month since their sales were down. He said that avoiding layoffs helped their company weather the crisis.
