Dan Price Net Worth 2022: Case of Assault Against Ex-wife!
An American entrepreneur from Michigan, Dan Price is the chief executive officer of “Gravity Payments.” Gravity Payments is a credit card processing startup that he founded at the age of 19 from his SPU dorm room.
In 2015, he garnered international recognition for increasing his company’s minimum wage to $70,000 while simultaneously cutting his own income from $1.1 million to $70,000. After taking a $900,000 pay cut and increasing his company’s minimum wage to $70,000, Price stated that he rented his property to make ends meet.
|Real Name / Full Name
|Daniel Joseph Price
|Birthday / Date of Birth
|May 13, 1984
|Education (High School / College / University)
|Seattle Pacific University
Daniel Joseph Price was born in Michigan, United States, on 13 May 1984. His father, Ron Price, was a self-employed consultant. His siblings are named Lucas, Alex, and Jessie. His family moved to Idaho, and he was homeschooled until the age of twelve.
Price was raised in a devout Christian household. He mastered the bass guitar and co-founded “Straightforward,” a Christian rock band that was popular enough to tour and garner national notice.
Price attended the Christian Seattle Pacific University in 2004 and graduated with various business accolades in 2008.
Dan and his brother established Gravity in 2001, and in 2004 they hired their first employee. Years later, he had a disagreement with his older brother. They determined that Dan would become the majority owner of Gravity.
Price financed the business using his savings, credit card debt, and college loans. The firm grew rapidly as Gravity created its own technology and absorbed the card-processing infrastructure. Following the 2008 recession, however, the company’s revenue fell by 20%.
In 2012, he upped the salary of his staff by 20% while boosting their productivity from 30% to 40%. His income climbed by 20% the next year. Once again, the business produced a substantial profit.
In 2014, the company generated $150 million in revenue on $7 billion in consumer transactions. The company also generated a profit of $2.2 million, of which 40% was distributed to Price and Lucas as dividends.
In 2015, he increased the minimum wage at his company to $70,000 while cutting his own income from $1.1 million to $70,000. Additionally, he increased the minimum salary for all ChargeItPro employees, a company acquired by Gravity Payments in 2019.
Early in 2021, Price’s pay hike prompted a backlash, particularly from Rush Limbaugh and several clients who accused him of socialism. Two Gravity Payments employees resigned in response.
Price resigned as CEO of Gravity Payments on August 17, 2022, and Tammi Kroll, the company’s chief operations officer, assumed the role.
Lawsuit Against Price
In 2015, Lucas Price filed a lawsuit against his brother Price. According to the lawsuit, Price was accused of overpaying himself and defrauding stockholders of income. In 2016, King County Superior Court Judge Theresa B. Doyle declared Dan Price not guilty on all counts.
As of 2022, Dan Price’s projected net worth is $12 million. His primary source of income is his company, Gravity Payments. From 2010 through 2015, Price made between $700,000 and $1,1,000,000 USD year. In 2015, he decided to reduce his salary to $70,000 USD a year.
Following the announcement of the wage rise, Price became a celebrity, appearing on many magazine and television covers and reportedly earning at least $10,000 every public speaking engagement.
Following many misdemeanor convictions of assault and reckless driving, his fortune appears to have decreased, and he recently resigned as CEO of Gravity Payments on August 17, 2022.
In 2015, Price signed a $500,000 book contract with Viking Press. Following the revelation that his ex-wife had accused him of domestic violence in a December 2015 piece published by Bloomberg Businessweek, Price lost both his book deal and his representation by the entertainment agency WME.
He self-published his first book, Worth It, in April 2020. Price routinely posts socioeconomic ideas with a liberal bias on social media. Some of his blog articles have become Internet memes. Former Seattle Times columnist Mike Rosenberg ghostwrote the majority of his posts.
Honors and Accomplishments
Price’s leadership and entrepreneurial spirit have earned him numerous accolades and awards, including Entrepreneur Magazine’s Entrepreneur of the Year in 2014 and the SBA National Young Entrepreneur of the Year award from President Obama in 2010. In 2013, he was also named Young Entrepreneur of the Year by GeekWire.
In 2007, Price wed his high school sweetheart, Kristie Lewellyn. In 2012, they divorced due to irreconcilable differences. According to Netline, the pair wed after Price’s devout Christian parents urged them to marry or end their relationship. Price presently resides in the Magnolia neighborhood of Seattle, Washington.
Case of Assault Against Ex-Wife
Dan Price’s ex-wife, Kristie Colón, said in 2015 that he hurled, punched, slapped, body-slammed, and waterboarded her throughout their marriage. The University of Kentucky removed the video and information about her from the TEDx website.
The attorneys for Price notified the university that Colón’s comments were defamatory. In 2016, Colón published a blog post confirming her accusations, although Price refuted her allegations of assault and maintained that the events she described never occurred.
Imprisonment and Sexual Assaults
Multiple times, Price has been charged with physical and sexual assault. He visited an Irish pub in Seattle in 2013 and sat at a table with strangers. After being asked to leave, Price attacked the bar’s manager. Police arrested him and accused him of assault, but the charges were subsequently dismissed.
Price was investigated for the felony rape of a drugged victim in April 2021. Palm Springs Police subsequently sent the matter to local prosecutors.
In February 2022, Price was again charged with assault after a lady accused him of attempting to forcibly kiss her. The counsel for Price denied the woman’s allegations. The sexual assault charge was later dropped, and Price pled not guilty to the remaining two charges.