Dan Price
{{Short description|American entrepreneur and businessman (born 1984)}}
{{For|the British politician|Dan Price (police commissioner)}}
{{Infobox person
| name = Dan Price
| image = Dan Price at Float Conference.jpg
| caption = Price in 2021
| birth_date = {{birth date and age|1984|5|13}}
| birth_place = Lansing, Michigan, United States
| education = Seattle Pacific University
| occupation = {{hlist|Entrepreneur|businessman|media personality}}
| spouse = {{marriage|Kristie Colón (née Lewellyn)
|2005|2012|end=div}}
}}
Daniel Joseph Price (born May 13, 1984) is an American entrepreneur, businessman, and media personality. He is the co-founder and former chief executive officer of Gravity Payments, a credit card processing and financial services company, of which he is the sole shareholder and board member.{{cite news |last1=Rosenblatt |first1=Lauren |date=December 25, 2022 |title=Seattle celebrity CEO Dan Price's rise and fall at Gravity Payments |url=https://www.seattletimes.com/business/seattle-celebrity-ceo-dan-prices-rise-and-fall-at-gravity-payments/ |access-date=December 28, 2022 |work=The Seattle Times}}{{cite news |last1=Weise |first1=Karen |date=August 18, 2022 |title=Social Media Was a C.E.O.'s Bullhorn, and How He Lured Women |url=https://www.nytimes.com/2022/08/18/technology/dan-price-resign-social-media.html |url-status=live |archive-url=https://web.archive.org/web/20220818214005/https://www.nytimes.com/2022/08/18/technology/dan-price-resign-social-media.html |archive-date=August 18, 2022 |access-date=August 18, 2022 |work=The New York Times}}
Price gained recognition in 2015 after raising the minimum salary for Gravity Payments employees to $70,000 and lowering his own wage from $1.1 million to $70,000.{{Cite web |date=September 15, 2021 |title=CEO on why giving all employees minimum salary of $70,000 still "works" six years later: "Our turnover rate was cut in half" |url=https://www.cbsnews.com/news/dan-price-gravity-payments-ceo-70000-employee-minimum-wage/ |url-status=live |archive-url=https://web.archive.org/web/20211030032045/https://www.cbsnews.com/news/dan-price-gravity-payments-ceo-70000-employee-minimum-wage/ |archive-date=2021-10-30 |access-date=2021-10-30 |website=CBS News}} He has been active on social media, especially Twitter, where his posts have been widely shared.
Early life and education
Daniel Joseph Price was born on May 13, 1984,{{Citation|last=Price|first=Dan|title=I'm 36 today. Thank you for all the birthday wishes!|date=2020-05-13|url=https://twitter.com/DanPriceSeattle/status/1260796689658425346|work=Twitter|access-date=2021-06-01|url-status=live|archive-date=2021-06-02|archive-url=https://web.archive.org/web/20210602221240/https://twitter.com/DanPriceSeattle/status/1260796689658425346}} in Lansing, Michigan.{{cite news |last1=Martinez |first1=Shandra |title=Seattle CEO whose $70K salary pledge caused Internet stir has Michigan ties |url=https://www.mlive.com/business/west-michigan/2015/04/seattle_ceo_whose_70k_salary_p.html |access-date=April 25, 2022 |publisher=MLive |date=April 16, 2015 |archive-date=April 25, 2022 |archive-url=https://web.archive.org/web/20220425191136/https://www.mlive.com/business/west-michigan/2015/04/seattle_ceo_whose_70k_salary_p.html |url-status=live }} His father, Ron Price, worked as a business consultant and public speaker.{{Cite web |last=Goodwin |first=Shaun |date=2022-08-20 |title=Idaho-raised CEO Dan Price quit under pressure. This timeline shows the allegations |url=https://www.eastidahonews.com/2022/08/idaho-raised-ceo-dan-price-quit-under-pressure-this-timeline-shows-the-allegations/ |access-date=2022-09-04 |website=East Idaho News |publisher=Idaho Statesman}} He is the fourth of six children and was raised in an Evangelical Christian household.{{cite news |last1=Keegan |first1=Paul |date=October 21, 2015 |title=Here's What Really Happened at That Company That Set a $70,000 Minimum Wage |url=https://www.inc.com/magazine/201511/paul-keegan/does-more-pay-mean-more-growth.html |url-status=live |archive-url=https://web.archive.org/web/20200529200825/https://www.inc.com/magazine/201511/paul-keegan/does-more-pay-mean-more-growth.html |archive-date=May 29, 2020 |access-date=April 23, 2022 |work=Inc.com |language=en |issue=November 2015}} When he was young, his family moved to Nampa, Idaho, where he was homeschooled until the age of 12.
Price attended and graduated from Nampa Christian High, a private school.{{Cite web |last=Corr |first=Justin |date=April 15, 2015 |title=Father of headline-making CEO: 'I don't know what's next' |url=https://www.ktvb.com/article/news/local/father-of-headline-making-ceo-i-dont-know-whats-next/277-175854482 |access-date=2022-08-20 |website=KTVB |language=en-US |archive-date=2022-08-31 |archive-url=https://web.archive.org/web/20220831004057/https://www.ktvb.com/article/news/local/father-of-headline-making-ceo-i-dont-know-whats-next/277-175854482 |url-status=live }}{{Cite web |date=April 15, 2015 |title=Nampa Christian High grad slashes pay to help workers |url=https://www.ktvb.com/article/news/local/nampa-christian-high-grad-slashes-pay-to-help-workers/277-175841750 |access-date=2022-08-20 |website=KTVB |language=en-US |archive-date=2022-08-20 |archive-url=https://web.archive.org/web/20220820042424/https://www.ktvb.com/article/news/local/nampa-christian-high-grad-slashes-pay-to-help-workers/277-175841750 |url-status=live }} While in high school, he joined a Christian punk rock band called Straightforword, playing bass guitar. After the owner of a coffee shop where the band regularly performed complained of high credit card processing fees,{{Cite web |last=Lee |first=Allen |date=2022-03-25 |title=How Dan Price Achieved a Net Worth of $12 Million |url=https://moneyinc.com/dan-price-net-worth/ |access-date=2022-09-04 |website=Money Inc |language=en-US}} Price said he was able to negotiate the fees down for the owner. His father was working in the credit card industry at the time and Price began to assist him. Price then focused on launching a credit card processing business instead of pursuing music.{{cite news |last1=Karomo |first1=Chege |title=Who is Dan Price? – The Entrepreneur's Profitable Selflessness and Ex-Wife's Abuse Allegations Detailed |url=https://thenetline.com/who-is-dan-price/ |access-date=April 25, 2022 |publisher=The Netline |date=April 15, 2021 |archive-date=January 30, 2022 |archive-url=https://web.archive.org/web/20220130004015/https://thenetline.com/who-is-dan-price/ |url-status=live }} Price moved to Seattle to attend Seattle Pacific University (SPU), a private Christian university. He graduated from SPU in 2008.{{Cite web |last=Kelly |first=Clint |date=2010 |title=Gravity on the Rise |url=https://spu.edu/depts/uc/response/new/2010-autumn/alumni/gravity-on-the-rise.asp |access-date=2022-08-20 |website=spu.edu |archive-date=2022-04-22 |archive-url=https://web.archive.org/web/20220422172620/https://spu.edu/depts/uc/response/new/2010-autumn/alumni/gravity-on-the-rise.asp |url-status=live }}
Career
= Business =
In 2004, while a student at Seattle Pacific University, Dan Price, 19, started Price & Price as a merchant-services company along with his older brother, Lucas Price, 24.{{Cite web|last=Keegan|first=Paul|date=2015-11-11|title=A Day in the Life of Dan Price, the $70,000 Minimum Wage CEO|url=https://www.inc.com/paul-keegan/dan-price-gravity-day-in-the-life.html|access-date=2020-04-02|website=Inc.com|archive-date=2021-05-06|archive-url=https://web.archive.org/web/20210506073521/https://www.inc.com/paul-keegan/dan-price-gravity-day-in-the-life.html|url-status=live}}{{Cite news|last=Cohen|first=Patricia|date=2015-04-13|title=One Company's New Minimum Wage: $70,000 a Year|language=en-US|work=The New York Times|url=https://www.nytimes.com/2015/04/14/business/owner-of-gravity-payments-a-credit-card-processor-is-setting-a-new-minimum-wage-70000-a-year.html|access-date=2020-04-02|issn=0362-4331|archive-date=2015-04-14|archive-url=https://web.archive.org/web/20150414045711/http://www.nytimes.com/2015/04/14/business/owner-of-gravity-payments-a-credit-card-processor-is-setting-a-new-minimum-wage-70000-a-year.html|url-status=live}} Lucas provided the seed money for the venture and was the original majority owner of the company.{{Cite web |last=Bishop |first=Todd |date=2016-07-09 |title=Dan Price, the '$70k CEO,' prevails in lawsuit filed by his brother and Gravity Payments co-owner |url=https://www.geekwire.com/2016/dan-price-70k-ceo-prevails-suit-filed-brother-gravity-payments-co-owner/ |url-status=live |archive-url=https://web.archive.org/web/20200316151957/https://www.geekwire.com/2016/dan-price-70k-ceo-prevails-suit-filed-brother-gravity-payments-co-owner/ |archive-date=2020-03-16 |access-date=2020-04-02 |website=GeekWire |language=en-US}} Dan became CEO in 2006.{{Cite web |last=Axelrod |first=Jason |date=2015-07-20 |title=Gravity Payments CEO, who set $70K minimum pay, sued by brother |url=https://www.seattletimes.com/business/gravity-payments-ceo-sued-by-brother/ |url-status=live |archive-url=https://web.archive.org/web/20200130024143/https://www.seattletimes.com/business/gravity-payments-ceo-sued-by-brother/ |archive-date=2020-01-30 |access-date=2020-04-02 |website=The Seattle Times |language=en-US}} The brothers renegotiated their ownership stake in 2008 and renamed the company Gravity Payments.
On March 16, 2015, Price was served at his house with a lawsuit initiated by his brother Lucas. The lawsuit alleged that Dan Price was overpaying himself and engaging in minority shareholder oppression. Price was accused of freezing Lucas out of major business decisions for their company in violation of their 2008 agreement to have two-person board meetings.{{cite news |last1=Rodrick |first1=Stephen |date=August 3, 2016 |title=Is Seattle Startup CEO Dan Price a Sinner or a Savior? |url=https://www.esquire.com/lifestyle/a46922/dan-price-the-prophet-motive-esq-2016/ |url-status=live |archive-url=https://web.archive.org/web/20220423023618/https://www.esquire.com/lifestyle/a46922/dan-price-the-prophet-motive-esq-2016/ |archive-date=April 23, 2022 |access-date=April 22, 2022 |work=Esquire}} In July 2016, the lawsuit filed by Lucas Price was concluded when King County Superior Court Judge Theresa B. Doyle ruled in favor of Dan Price on all counts.
On April 13, 2015, with reporters from The New York Times and NBC News in attendance, Price told Gravity Payments staff that he was raising the company's minimum salary to $70,000 and reducing his own compensation from $1.1 million to $70,000.{{Cite web|last=Lagorio-Chafkin|first=Christine|date=2015-10-27|title=Gravity Payments' $70,000 Founder Scores $500,000-Plus Book Deal|url=https://www.inc.com/christine-lagorio/dan-price-force-of-gravity-book.html|access-date=2020-04-02|website=Inc.com|archive-date=2020-11-28|archive-url=https://web.archive.org/web/20201128151311/https://www.inc.com/christine-lagorio/dan-price-force-of-gravity-book.html|url-status=live}}{{Cite web|last=Mason|first=Anthony|date=2015-04-14|title=CEO to employees: $70,000 is our new minimum wage|url=https://www.cbsnews.com/news/ceo-to-employees-70000-is-our-new-minimum-wage/|access-date=2020-04-03|website=CBS News|language=en|archive-date=2020-02-21|archive-url=https://web.archive.org/web/20200221164722/https://www.cbsnews.com/news/ceo-to-employees-70000-is-our-new-minimum-wage/|url-status=live}} The story quickly went viral.{{cite news |last1=Zarinsky |first1=Natasha |date=November 27, 2015 |title=Dan Price Offered His Employees $70K, Was Raked Over the Coals |url=https://www.esquire.com/lifestyle/money/interviews/a39863/dan-price-gravity-2015-breakouts/ |url-status=live |archive-url=https://web.archive.org/web/20220423182255/https://www.esquire.com/lifestyle/money/interviews/a39863/dan-price-gravity-2015-breakouts/ |archive-date=April 23, 2022 |access-date=April 23, 2022 |work=Esquire |issue=December 2015/January 2016}} Price cited "High income improves evaluation of life but not emotional well-being," a 2010 paper by Daniel Kahneman and Angus Deaton of Princeton University, as motivation for his choice of the $70,000 minimum. The company said that employees contributed to buy a Tesla for Price as a show of gratitude,{{Cite web |date=2016-07-14 |title=Gravity Payments team gets CEO Dan Price a gift: a Tesla |url=https://www.seattletimes.com/business/technology/gravity-payments-team-gets-ceo-a-gift/ |url-status=live |archive-url=https://web.archive.org/web/20220424214333/https://www.seattletimes.com/business/technology/gravity-payments-team-gets-ceo-a-gift/ |archive-date=2022-04-24 |access-date=2022-04-24 |website=The Seattle Times |language=en-US}} but two experienced employees in Gravity's marketing department later said that Price himself came up with the Tesla gift idea, and no Gravity employees saw a reduction in their wages to pay for Price's car. The salary move also triggered a backlash, including from Rush Limbaugh and from some Gravity Payments clients who accused Price of communist or socialist motives. Two Gravity Payments employees resigned in protest.
Price later admitted that some of the statements he made to the press about how he funded the wage raise at Gravity Payments were not true.{{Cite web |last=Stewart |first=Ashley |date=2016-06-01 |title='A troubling story of ego:' Gravity Payments' CEO Dan Price takes the stand in lawsuit against brother |url=https://www.bizjournals.com/seattle/blog/techflash/2016/06/a-troubling-story-of-ego-gravity-payments-ceo-dan.html |url-status=live |archive-url=https://web.archive.org/web/20160602041734/http://www.bizjournals.com/seattle/blog/techflash/2016/06/a-troubling-story-of-ego-gravity-payments-ceo-dan.html |archive-date=2016-06-02 |access-date=2020-04-02 |website=Seattle Business Journal}}{{Cite web |last=Evon |first=Dan |date=2017-01-09 |title=FACT CHECK: Did Gravity Payments CEO Dan Price Have to Rent His House to Make Ends Meet? |url=https://www.snopes.com/fact-check/gravity-payments-ceo-rent-house/ |url-status=live |archive-url=https://web.archive.org/web/20220205185148/https://www.snopes.com/fact-check/gravity-payments-ceo-rent-house/ |archive-date=2022-02-05 |access-date=2020-04-03 |website=Snopes.com |language=en-US}} He told Inc. in an interview for a November 2015 cover story that he sold all his stocks, emptied his retirement accounts, and mortgaged two properties he owned, obtaining $3 million, which he put into Gravity Payments. "I wanted a larger margin for error," Price told CNN, explaining that the additional funding was related to his promised minimum wage increase.{{cite news |last1=Isidore |first1=Chris |date=October 27, 2015 |title=CEO who pays all staff $70,000 mortgages house, sells assets |url=https://money.cnn.com/2015/10/27/news/companies/pay-raise-ceo/index.html |url-status=live |archive-url=https://web.archive.org/web/20220423153513/https://money.cnn.com/2015/10/27/news/companies/pay-raise-ceo/index.html |archive-date=April 23, 2022 |access-date=April 23, 2022 |work=CNNMoney}} Property records searches showed that Price had not mortgaged his homes at that time, and he acknowledged this in a February 2016 court filing. Price later mortgaged one of his properties in March 2016. Price told The New York Times in July 2015, "I'm renting out my house right now to make ends meet for myself." In August 2016, he told the Today show that he only rents his home during the summer and that his decision was not made solely out of financial necessity.
Price reported in March 2020 that the pay raise has worked well for his company in particular, but he hesitated to call it a full success because income inequality in the broader world has continued to grow.{{Cite news |last=Goodyear |first=Sheena |date=2020-03-02 |title=Seattle CEO who pays workers at least $70K US says it's paying off in spades |url=https://www.cbc.ca/radio/asithappens/seattle-ceo-who-pays-workers-at-least-70k-us-says-it-s-paying-off-in-spades-1.5482394 |url-status=live |archive-url=https://web.archive.org/web/20200305114235/https://www.cbc.ca/radio/asithappens/seattle-ceo-who-pays-workers-at-least-70k-us-says-it-s-paying-off-in-spades-1.5482394 |archive-date=2020-03-05 |access-date=2020-04-02 |work=Canadian Broadcasting Corporation}} He extended the same minimum wage to all employees of ChargeItPro, a company Gravity Payments acquired in 2019.{{Cite web |last=Lewis |first=Sophie |date=2019-09-25 |title=CEO stuns employees by giving them each a $10,000 raise |url=https://www.cbsnews.com/news/david-price-gravity-payments-ceo-stuns-employees-by-giving-them-each-a-10000-raise/ |url-status=live |archive-url=https://web.archive.org/web/20190926111327/https://www.cbsnews.com/news/david-price-gravity-payments-ceo-stuns-employees-by-giving-them-each-a-10000-raise/ |archive-date=2019-09-26 |access-date=2020-04-03 |website=CBS News |language=en-US}} Price resigned as Gravity Payments CEO on August 17, 2022, telling employees that he needed to step aside from his CEO role to "focus full time on fighting false accusations made against me." Tammi Kroll, Gravity Payments' chief operating officer, replaced Price as CEO.{{cite news |date=August 17, 2022 |title=Famed Seattle CEO Dan Price resigns from company amid assault allegations |url=https://www.king5.com/article/news/local/seattle/seattle-ceo-dan-price-resigns-assault-allegations-gravity-payments/281-21eb62fa-a85a-4fa7-8735-1475d04998b4 |url-status=live |archive-url=https://web.archive.org/web/20220818022341/https://www.king5.com/article/news/local/seattle/seattle-ceo-dan-price-resigns-assault-allegations-gravity-payments/281-21eb62fa-a85a-4fa7-8735-1475d04998b4 |archive-date=August 18, 2022 |access-date=August 17, 2022 |work=KING 5}}{{cite news |last1=Soper |first1=Taylor |date=August 17, 2022 |title='$70,000 CEO' Dan Price resigns as chief of Gravity Payments after assault allegations |url=https://www.geekwire.com/2022/70000-ceo-dan-price-resigns-as-chief-of-gravity-payments-after-assault-allegations/ |url-status=live |archive-url=https://web.archive.org/web/20220818022026/https://www.geekwire.com/2022/70000-ceo-dan-price-resigns-as-chief-of-gravity-payments-after-assault-allegations/ |archive-date=August 18, 2022 |access-date=August 17, 2022 |work=GeekWire}} On May 28, 2024, Price announced that he had returned to Gravity "in a new role advising and assisting the CEO on strategy."
= Other ventures =
In 2015, Price accepted a $500,000 book deal to be published via Viking Press. He planned to write about the establishment of Gravity Payments and about socially conscious business. Price lost the book deal, and his representation by the talent agency WME, after a Bloomberg Businessweek article in December 2015 reported that his ex-wife had accused him of domestic violence.
Price has made frequent use of social media to post liberal-leaning critiques about socioeconomic issues. Some of his posts were widely shared as Internet memes. Most of his posts were ghostwritten by Mike Rosenberg, a former reporter for The Seattle Times who was suspended from his job in 2019 after revelations that he sent sexually explicit messages to another journalist.{{Cite web |last=Arnold |first=Amanda |date=2019-05-06 |title=Seattle Times Reporter Suspended After Sending Writer Wildly Inappropriate DMs |url=https://www.thecut.com/2019/05/seattle-times-reporter-suspended-over-inappropriate-dms.html |access-date=2022-08-20 |website=The Cut |language=en-us |archive-date=2022-08-19 |archive-url=https://web.archive.org/web/20220819220117/https://www.thecut.com/2019/05/seattle-times-reporter-suspended-over-inappropriate-dms.html |url-status=live }}{{Cite web |last=Fowler |first=Lilly |date=June 11, 2019 |title=Seattle Times reporter accused of sending explicit messages resigns |url=https://crosscut.com/2019/06/seattle-times-reporter-accused-sending-explicit-messages-resigns |access-date=2022-08-20 |website=Crosscut |language=en |archive-date=2022-08-19 |archive-url=https://web.archive.org/web/20220819220129/https://crosscut.com/2019/06/seattle-times-reporter-accused-sending-explicit-messages-resigns |url-status=live }}
Price's first book, Worth It, was self-published in April 2020.{{cite news |last1=Romano |first1=Tricia |date=April 24, 2020 |title=Stories from Seattle: Surviving the COVID-19 Crisis Without Layoffs is No Easy Feat |url=https://seattlemag.com/city-life/stories-seattle-surviving-covid-19-crisis-without-layoffs-no-easy-feat |url-status=live |archive-url=https://web.archive.org/web/20210423060030/https://seattlemag.com/city-life/stories-seattle-surviving-covid-19-crisis-without-layoffs-no-easy-feat |archive-date=April 23, 2021 |access-date=April 22, 2022 |work=Seattle Magazine |language=en}} In September 2020, he tweeted, "52% of young adults now live with their parents, the highest rate ever, surpassing even the Great Depression. The most educated (and most in debt) generation in history did everything they were supposed to and got this. The system. Does. Not. Work." The post went viral a year later; one instance of it was shared over 15,000 times. USA Today fact-checked the tweet and found it to be accurate as of its original posting date, although out of context; the COVID-19 pandemic was responsible for the sudden spike in this figure.{{cite news |last1=Wagner |first1=Bayliss |title=Fact check: 47% of American young adults currently live with their parents |url=https://www.usatoday.com/story/news/factcheck/2021/12/23/fact-check-47-american-young-adults-live-their-parents/8672598002/ |access-date=April 22, 2022 |work=USA Today |date=December 23, 2021 |archive-date=April 23, 2022 |archive-url=https://web.archive.org/web/20220423012711/https://www.usatoday.com/story/news/factcheck/2021/12/23/fact-check-47-american-young-adults-live-their-parents/8672598002/ |url-status=live }} One of Price's tweets, about Dick's Drive-In's high wages and low prices, was shared over 70,000 times.{{cite news |last1=Belle |first1=Rachel |title=How does Dick's Drive-In pay workers $19 an hour with a menu completely under $5? |url=https://mynorthwest.com/3177050/how-does-dicks-drive-in-pay-workers-19-an-hours/ |access-date=April 22, 2022 |work=MyNorthwest.com |date=October 5, 2021 |language=en |archive-date=August 31, 2022 |archive-url=https://web.archive.org/web/20220831004057/https://mynorthwest.com/3177050/how-does-dicks-drive-in-pay-workers-19-an-hours/ |url-status=live }}
Price accused Twitter of "shadow muting" his account in June 2021, noting an over 90% decrease in tweet impressions and profile views, month over month.{{cite news |last1=Conrad |first1=Brooke |date=June 8, 2021 |title=Dan Price accuses Twitter of 'shadow-muting' his account |url=https://wset.com/news/nation-world/dan-price-accuses-twitter-of-shadow-muting-his-account |url-status=live |archive-url=https://web.archive.org/web/20210928192105/https://wset.com/news/nation-world/dan-price-accuses-twitter-of-shadow-muting-his-account |archive-date=September 28, 2021 |access-date=April 22, 2022 |work=WSET |language=en}} In July 2021, Price posted on LinkedIn in favor of work from home, saying that introverts benefit from it, garnering nearly 28,000 reactions and more than 1,000 comments in response.{{cite news |last1=Downes |first1=Sophie |date=July 23, 2021 |title=Gravity Payments CEO Dan Price: Don't Force Introverts Back Into the Office |url=https://www.inc.com/sophie-downes/dan-price-gravity-payments-remote-work-from-home-introvert.html |url-status=live |archive-url=https://web.archive.org/web/20220423013347/https://www.inc.com/sophie-downes/dan-price-gravity-payments-remote-work-from-home-introvert.html |archive-date=April 23, 2022 |access-date=April 22, 2022 |work=Inc.com |language=en}}
In March 2022, Facebook flagged a screen shot of a Price Twitter post about oil company profits, which had gone viral on its platform, as part of its efforts to combat misinformation. PolitiFact wrote that Price's tweet was "mostly true," stating that "while it was correct in its assertion that oil companies have recorded record profits, it ignored that those gains followed pandemic-era losses."{{cite news |last1=Nguyen |first1=Andy |title=Yes, oil companies are reporting record breaking profits. But it follows pandemic-fueled losses |url=https://www.politifact.com/factchecks/2022/mar/10/facebook-posts/yes-oil-companies-are-reporting-record-breaking-pr/ |access-date=April 22, 2022 |work=PolitiFact |date=March 10, 2022 |archive-date=April 23, 2022 |archive-url=https://web.archive.org/web/20220423014559/https://www.politifact.com/factchecks/2022/mar/10/facebook-posts/yes-oil-companies-are-reporting-record-breaking-pr/ |url-status=live }}
Reception
In 2010, Price was honored as the National SBA Young Entrepreneur of the Year and was invited to the White House to meet President Barack Obama.{{cite news |last1=Cook |first1=John |date=June 8, 2010 |title=President Barack Obama honors 26-year-old Seattle entrepreneur |url=https://www.bizjournals.com/seattle/blog/techflash/2010/06/president_obama_honors_26-year-old_seattle_entrepreneur.html |url-status=live |archive-url=https://web.archive.org/web/20211018145734/https://www.bizjournals.com/seattle/blog/techflash/2010/06/president_obama_honors_26-year-old_seattle_entrepreneur.html |archive-date=October 18, 2021 |access-date=April 22, 2022 |work=Puget Sound Business Journal}} He won GeekWire's Young Entrepreneur of the Year award in 2013.{{cite news |last1=Soper |first1=Taylor |date=May 10, 2013 |title=Revealed: The winners of the 2013 GeekWire Awards |url=https://www.geekwire.com/2013/revealed-winners-2013-geekwire-awards/ |url-status=live |archive-url=https://web.archive.org/web/20220423033430/https://www.geekwire.com/2013/revealed-winners-2013-geekwire-awards/ |archive-date=April 23, 2022 |access-date=April 22, 2022 |work=GeekWire}} Entrepreneur magazine named him Entrepreneur of 2014.{{cite news |last1=Hanley Frank |first1=Blair |date=December 18, 2014 |title=Gravity Payments CEO Dan Price named 'Entrepreneur of 2014' by Entrepreneur Magazine |url=https://www.geekwire.com/2014/gravity-payments-ceo-dan-price-named-entrepreneur-2014-entrepreneur-magazine/ |url-status=live |archive-url=https://web.archive.org/web/20220202155346/https://www.geekwire.com/2014/gravity-payments-ceo-dan-price-named-entrepreneur-2014-entrepreneur-magazine/ |archive-date=February 2, 2022 |access-date=April 22, 2022 |work=GeekWire}}
After the pay raise announcement, Price became a celebrity, making numerous television and magazine cover appearances, and reportedly earning at least $10,000 per public speaking appearance. Writing for Esquire magazine, Natasha Zarinsky called him "a folk hero for the age of inequality." Bernie Sanders appeared with Price on MSNBC and later tweeted, "At a time of massive wealth and income inequality in our country, Mr. Price set an example others should learn from." Robert Reich, the former United States Secretary of Labor, called Price "the one moral CEO in America" in a speech about the immorality of capitalism.{{cite news |last1=Green |first1=Sara Jean |last2=Rosenblatt |first2=Lauren |date=April 20, 2022 |title=Seattle CEO, big-business antagonist Dan Price accused of assaulting woman |url=https://www.seattletimes.com/seattle-news/law-justice/seattle-ceo-and-big-business-antagonist-dan-price-accused-of-assaulting-woman-after-dinner-meeting/ |url-status=live |archive-url=https://web.archive.org/web/20220422232031/https://www.seattletimes.com/seattle-news/law-justice/seattle-ceo-and-big-business-antagonist-dan-price-accused-of-assaulting-woman-after-dinner-meeting/ |archive-date=April 22, 2022 |access-date=April 23, 2022 |work=The Seattle Times}} An Upworthy article in November 2021 began, "Dan Price is the go-to example for business done right."{{cite news |last1=Wake |first1=Heather |date=November 30, 2021 |title=Dan Price is marking Giving Tuesday by putting donation money into the hands of his employees |url=https://www.upworthy.com/giving-tuesday-dan-price-gives-employees-500 |url-status=live |archive-url=https://web.archive.org/web/20220629144949/https://www.upworthy.com/giving-tuesday-dan-price-gives-employees-500 |archive-date=June 29, 2022 |access-date=April 23, 2022 |work=Upworthy |language=en}}
Personal life
Price resides in the Magnolia neighborhood of Seattle, Washington.{{Cite web|date=7 December 2015|title=Gravity Payments CEO Dan Price hasn't actually mortgaged his homes, property records show|url=https://www.geekwire.com/2015/records-show-gravity-payments-ceo-dan-price-hasnt-actually-mortgaged-his-homes/|access-date=23 July 2021|archive-date=23 July 2021|archive-url=https://web.archive.org/web/20210723201403/https://www.geekwire.com/2015/records-show-gravity-payments-ceo-dan-price-hasnt-actually-mortgaged-his-homes/|url-status=live}}{{Cite news |last=Weise |first=Karen |date=2015-12-01 |title=The CEO Paying Everyone $70,000 Salaries Has Something to Hide |newspaper=Bloomberg Businessweek |url=https://www.bloomberg.com/features/2015-gravity-ceo-dan-price/ |url-status=live |access-date=2020-04-02 |archive-url=https://web.archive.org/web/20191011060727/https://www.bloomberg.com/features/2015-gravity-ceo-dan-price/ |archive-date=2019-10-11}} He was married to Kristie Colón (née Lewellyn) from 2005 until their divorce in 2012.{{Cite news|last=Cohen|first=Patricia|date=2015-07-31|title=A Company Copes With Backlash Against the Raise That Roared|language=en-US|work=The New York Times|url=https://www.nytimes.com/2015/08/02/business/a-company-copes-with-backlash-against-the-raise-that-roared.html|access-date=2020-04-02|issn=0362-4331|archive-date=2015-08-07|archive-url=https://web.archive.org/web/20150807153136/http://www.nytimes.com/2015/08/02/business/a-company-copes-with-backlash-against-the-raise-that-roared.html|url-status=live}}{{Cite web|last=Johnson|first=Jim Ludema and Amber|date=2018-08-28|title=Gravity Payment's Dan Price On How He Measures Success After His $70k Experiment|url=https://www.forbes.com/sites/amberjohnson-jimludema/2018/08/28/gravity-payments-dan-price-on-how-he-measures-success-after-his-70k-experiment/|url-status=live|archive-url=https://web.archive.org/web/20180828225439/https://www.forbes.com/sites/amberjohnson-jimludema/2018/08/28/gravity-payments-dan-price-on-how-he-measures-success-after-his-70k-experiment/ |archive-date=2018-08-28 |access-date=2020-04-02|website=Forbes|language=en}}{{Cite web|last=Weiss|first=Geoff|date=2015-12-17|title=Video Containing Allegations Dan Price Abused His Ex-Wife Won't Publish and Has Been Deleted|url=https://www.entrepreneur.com/article/254140|access-date=2020-04-02|website=Entrepreneur|language=en|archive-date=2020-11-08|archive-url=https://web.archive.org/web/20201108091906/http://www.entrepreneur.com/article/254140|url-status=live}} The Netline reported that the couple married "after Dan's Christian parents demanded that they marry or end their relationship." Though he was raised in an Evangelical Christian household, he has stated that he no longer is a practicing Christian and doesn't follow any particular religion.{{cite news |last1=Moon |first1=Ruth |date=August 4, 2015 |title=$70,000 Minimum Wage Brings Bible Parable to Life (Unfortunately) |url=https://www.christianitytoday.com/2015/08/70000-minimum-wage-bible-parable-gravity-payments/ |access-date=May 18, 2025 |work=Christianity Today}}
Price has been accused of several physical and sexual assaults between 2013 and 2022. After pleading not guilty in May 2022 to misdemeanor charges of assault and reckless driving, he resigned as CEO of Gravity Payments on August 17, 2022. A city court dismissed these charges against Price without prejudice on April 19, 2023.{{Cite web |date=April 19, 2023 |title=Assault charges against former Gravity Payments CEO Dan Price dropped |url=https://www.king5.com/article/news/local/seattle/sexual-assault-charges-dan-price-dismissed/281-c0ef0c63-c004-4dc5-b409-064a061ddf82 |access-date=2023-04-19 |website=KING 5 |language=en-US}} Price announced on May 28, 2024, that he had returned to work at Gravity Payments in an advisory role.{{Cite web |date=2024-05-29 |title=Seattle celebrity CEO Dan Price is back nearly 2 years after resigning |url=https://www.seattletimes.com/business/seattle-celebrity-ceo-dan-price-back-at-gravity-payments-after-resigning/ |access-date=2024-05-29 |website=The Seattle Times |language=en-US}}
= Legal issues =
In 2013, Price entered an Irish pub in Seattle, sat at a table of people he did not know, and was asked to leave. After the bar's manager escorted him out, Price allegedly assaulted the manager. Price was arrested and charged. The charges were later dismissed.
In October 2015, Price's ex-wife Kristie Colón recorded a TEDx talk at the University of Kentucky in which she alleged that Price threw, punched, slapped, body-slammed and waterboarded her while they were married. Price's representatives notified the university that they considered Colón's remarks to be defamatory. The university later deleted its video footage of Colón's talk, which it had been planning to publish in December, and deleted information about her from the TEDx event's web site. Price denied her claims of abuse, said the events Colón described never happened, and said that his wife never filed a police report.{{Cite news |last=Kasperkevic |first=Jana |date=2015-12-03 |title=CEO who set $70,000 minimum wage: ex-wife's abuse accusations 'baseless' |url=https://www.theguardian.com/society/2015/dec/03/gravity-ceo-dan-price-domestic-violence-accusations |url-status=live |archive-url=https://web.archive.org/web/20201108135615/http://www.theguardian.com/society/2015/dec/03/gravity-ceo-dan-price-domestic-violence-accusations |archive-date=2020-11-08 |access-date=2020-04-02 |work=The Guardian |language=en-GB |issn=0261-3077}} Price's father denied Colón's accusations in an interview with the Idaho Statesman in December 2015.{{cite news |last1=Jones |first1=Katherine |date=December 4, 2015 |title=Father addresses allegations against Nampa-native CEO |url=https://www.idahostatesman.com/news/business/article48031855.html |url-status=live |archive-url=https://web.archive.org/web/20220819011653/https://account.idahostatesman.com/paywall/subscriber-only?resume=48031855&intcid=ab_archive |archive-date=August 19, 2022 |access-date=July 16, 2022 |work=Idaho Statesman}} In January 2016, Colón published a blog post standing by her accusations.{{Cite web |last=Weiss |first=Geoff |date=20 January 2016 |title=Dan Price's Ex-Wife Stands By Domestic-Abuse Allegations in Latest Blog Post |url=https://www.entrepreneur.com/article/269831 |url-status=live |archive-url=https://web.archive.org/web/20210925210409/https://www.entrepreneur.com/article/269831 |archive-date=2021-09-25 |access-date=2021-10-03 |website=Entrepreneur |language=en}}
In April 2022,{{Cite web |last=Day |first=Dalton |date=2022-04-21 |title=Gravity Payments CEO Dan Price charged with sexual assault amid ongoing felony rape investigation |url=https://mynorthwest.com/3443433/gravity-payments-ceo-dan-price-charged-sexual-assault-felony-rape/ |url-status=live |archive-url=https://web.archive.org/web/20220515083617/https://mynorthwest.com/3443433/gravity-payments-ceo-dan-price-charged-sexual-assault-felony-rape/ |archive-date=2022-05-15 |access-date=2022-05-13 |website=MyNorthwest.com |language=en}} Price was under investigation by the Palm Springs Police Department for felony rape of a drugged victim stemming from an April 2021 incident in Palm Springs, California.{{Cite web |date=2022-08-19 |title=Gravity Payments CEO Dan Price resigns, but claims of sexual assault ongoing |url=https://www.kiro7.com/news/local/gravity-payments-ceo-dan-price-resigns-claims-sexual-assault-ongoing/ELCNBQ7Y7NEUNCGZBDJMVULS5I/ |url-status=live |archive-url=https://web.archive.org/web/20220819054621/https://www.kiro7.com/news/local/gravity-payments-ceo-dan-price-resigns-claims-sexual-assault-ongoing/ELCNBQ7Y7NEUNCGZBDJMVULS5I/ |archive-date=2022-08-19 |access-date=2022-08-20 |website=KIRO 7 News Seattle |language=en}} On August 15, 2022, Palm Springs Police told The New York Times that they had referred the case to local prosecutors. In September 2024, Price was charged in Riverside County Superior Court with rape of an unconscious victim. "I have never physically or sexually abused anyone. I’m going to fight this charge and prove my innocence in court," said Price on October 25, 2024, a day after the court records were unsealed.{{cite news |last1=Rosenblatt |first1=Lauren |title=Gravity Payments founder Dan Price faces rape charge in California |url=https://www.seattletimes.com/business/gravity-payments-founder-dan-price-faces-rape-charge-in-california/ |access-date=October 25, 2024 |work=The Seattle Times |date=October 25, 2024}}{{Cite web |last=Weise |first=Karen |date=October 25, 2024 |title=Former Tech C.E.O. Dan Price Charged With Rape in California |url=https://www.nytimes.com/2024/10/25/technology/dan-price-gravity-payments-ceo-rape.html |access-date=November 1, 2024 |website=New York Times}}
In February 2022, Price was charged with misdemeanor assault, misdemeanor assault with sexual motivation, and reckless driving after a 26-year-old woman accused Price of forcibly attempting to kiss her. The woman also told police that Price was driving while intoxicated. Price's attorney issued a statement denying the woman's claims.{{cite news |last1=Toay |first1=Adel |date=April 21, 2022 |title=Seattle CEO Dan Price charged with assault, accused of attempting to forcefully kiss woman |url=https://www.king5.com/article/news/crime/seattle-ceo-dan-price-charged-assault/281-1562d908-2154-4be3-b7a5-f0f4ec48823e |url-status=live |archive-url=https://web.archive.org/web/20220422011049/https://www.king5.com/article/news/crime/seattle-ceo-dan-price-charged-assault/281-1562d908-2154-4be3-b7a5-f0f4ec48823e |archive-date=April 22, 2022 |access-date=April 22, 2022 |work=KING 5}} The assault with sexual motivation charge was later dropped;{{cite news |last1=Green |first1=Sara Jean |last2=Rosenblatt |first2=Lauren |date=May 31, 2022 |title=Seattle CEO Dan Price pleads not guilty to misdemeanor assault charges |url=https://www.seattletimes.com/business/seattle-ceo-dan-price-pleads-not-guilty-to-misdemeanor-assault-charges/ |url-status=live |archive-url=https://web.archive.org/web/20220610072049/https://www.seattletimes.com/business/seattle-ceo-dan-price-pleads-not-guilty-to-misdemeanor-assault-charges/ |archive-date=June 10, 2022 |access-date=June 16, 2022 |work=The Seattle Times}} Price pleaded not guilty to the other two charges on May 31.{{cite news |date=May 31, 2022 |title=Seattle CEO Dan Price pleads not guilty to misdemeanor assault, reckless driving charges |url=https://www.king5.com/amp/article/news/local/seattle/dan-price-pleads-not-guilty-charges/281-c7de3dd4-c332-41cd-8063-def11801c863 |url-status=live |archive-url=https://web.archive.org/web/20220617021547/https://www.king5.com/amp/article/news/local/seattle/dan-price-pleads-not-guilty-charges/281-c7de3dd4-c332-41cd-8063-def11801c863 |archive-date=June 17, 2022 |access-date=June 16, 2022 |publisher=King 5}} On April 19, 2023, a city court dismissed the remaining charges without prejudice.
Bibliography
- Price, Dan. Worth It: How a Million-Dollar Pay Cut and a $70,000 Minimum Wage Revealed a Better Way of Doing Business (2020) {{ISBN|978-1734157215}}
References
{{reflist}}
External links
- {{instagram}}
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Category:American chief executives of financial services companies
Category:American financial company founders
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