Daniel Joseph Price, aka Dan Price, is a business executive from the United States. He’s the head and co-founder of Gravity Payments, a company that processes credit cards.
In 2015, he became well known for raising the minimum wage at his company to $70,000, while also lowering his own salary from $1.1 million to $70,000.
His social media presence is strong, especially on Twitter, where his tweets get a lot of attention.
|Real Full Name||Dan Price Seattle|
|Date of birth||13th May 1984|
|Age||38 years old (as of 2022)|
|Birthplace||Michigan, United States|
|Profession||Head and co-founder of Gravity Payments|
|Height||5 feet 9 in (1.75 m)|
|Father Name||Ron Price|
|Wife Name||Kristie Lewellyn|
|Dan Price Salary in Gravity Payments||$70k|
|Dan Price Net Worth||$12 million (Last Updated 2022)|
Dan Price Net Worth
Dan Price is estimated to have a net worth of $12 million in 2022. Jason makes his money from Gravity. At Gravity Payments, his salary is $70k.
Dan Price Early life
On May 13, 1984, Price was born in Lansing, Michigan. He is the son of Ron Price, and he had six siblings. During his childhood, he moved with his family to Nampa, Idaho, and was home-schooled until he was 12. As a high school student, he played bass guitar in Straightforward, a Christian punk rock band.
They often performed at a venue whose owner had complaints regarding high credit card processing fees. Price negotiated a lower fee for the owner, and shortly after he decided to leave music altogether to launch his own credit card processing company.
Dan Price Career
Gravity Payments was founded in 2001 by Dan Price along with his brother Lucas. Their first employee was hired after three years. In some way, Lucas left and Dan purchased most of his shares. In order to finance Gravity, Dan used his personal savings, student loan debt, and debt from his credit cards.
He took a great deal of effort to raise the company once its technology was invented. They started processing cards in-house. The company suffered a collapse in 2008, resulting in a 20 percent drop in revenue.
In 2012, Dan surprised his employees by raising their salaries by 20 percent after four years. The company increased its revenue by 30 to 40 percent as a result of doing this. The salaries of Dan’s employees were again increased by 20 percent after a year.
Once, the company made a ton of money. Gravity Payments made $150 million in revenue in 2014, and its customers transacted $7 billion. This firm was able to make a profit of $2.2 million, of which 40 percent was shared by Lucas and Price.
Dan raised the minimum salary for his company’s employees to $70k in 2015, while reducing his own. He’s down to $70k from $1.1 million. In an effort to boost the company’s profits, he cuts his own salary.
Personal life Price lives in Seattle’s Magnolia neighborhood. Kristie Colón (née Lewellyn) was his wife for seven years until they divorced in 2012. It was reported that they married “after Dan’s Christian parents demanded that they marry or end their relationship.”