Nationality American Parents Ron Price | Name Dan Price Siblings Lucas Price | |
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Occupation CEO of Gravity Payments Known for CEO of Gravity Payments, and for setting a $70,000 minimum wage Website GravityPayments.com/danprice | ||
Dan price s underground home art philosophy on 5 000 year
Dan Price (born 1984) is an American entrepreneur and business executive. He is the founder and CEO of Gravity Payments, a Seattle-WA based credit card processing company, and was named Entrepreneur Magazine's 2014 Entrepreneur of the Year in 2013.
Contents
- Dan price s underground home art philosophy on 5 000 year
- Congratulations dan price
- Life and career
- Gravity Payments
- 70000 minimum wage
- Awards and recognition
- References
Price received national recognition in 2015 for announcing that all employees at Gravity Payments would receive a minimum wage of $70,000.
An investigation by Bloomberg Business uncovered the possibility that this wage increase was motivated by an attempt to deprive a minority owner of dividends and allegations of abuse by his ex-wife.
Congratulations dan price
Life and career
Price was born in Michigan, in May 1984. He was one of six children. His family moved to Wisconsin and then rural Nampa, Idaho, when Price was 5. He was home schooled until he was in junior high, which he stated attributed to some social awkwardness. To overcome this, he leveraged his familiarity with musical instruments to take up the bass guitar and joined a band in seventh grade. After experiencing some success, the band broke up, and Price channeled his energy into what would become Gravity Payments.
Gravity Payments
Using experience and contacts from having played in a band, and with advice from his father, Ron Price, CEO of a business consultancy based in Nampa, Idaho, he acquired 200 clients by his senior year of high school. He officially launched the company in January 2004, during his first semester at Seattle Pacific University. Price was 19.
$70,000 minimum wage
In 2015, Price made national news by announcing that he planned to raise the salary of every Gravity Payments employee to a minimum of $70,000. He was reportedly inspired by reading an article cowritten by Daniel Kahneman and Angus Deaton analyzing data from a happiness and well-being study conducted by the Gallup Organization. The analysis showed that emotional well being rises up until about $75,000 in salary.
There was a range of responses to this action, ranging from support to anger. Eventually, two top employees left to protest what they saw as unfairness in the pay scale, and the company lost a few clients, but they are reportedly still growing.