So Money - Episode 101

Dan Price

Founder and CEO of Gravity Payments

— To stream the interview click here.

— To download the mp3 right click here and choose “save as”

I’m honored and ELATED to welcome today’s guest, Dan Price. He is the man of the moment and I sure hope that he remains a public role model for all to see, witness and learn from. As the founder and CEO of Gravity Payments, a credit card processing firm, he recently announced raising his company minimum wage to $70,000 per year and himself taking a $930,000 pay cut – from $1 million to $70,000.

Dan is not your typical CEO. His leadership has earned him multiple awards, including the 2014 Seattle Business CEO Excellence Award, 2013 Entrepreneur Magazine’s Entrepreneur Of 2014 and 2010 SBA National Young Entrepreneur Of The Year Award. He was also featured in countless articles, including Forbes, Business Week, and CNBC, among others. Dan started his company almost a decade ago when he was 19 years old out of his dorm room at Seattle Pacific University with the seed money from his brother.

Three takeaways from our interview:

  • His response to skeptics that believe his pay raise is short-sighted.
  • How this salary shift will impact Dan’s life…remember his paycheck is going from $1 million to $70k.
  • Financial lessons from growing up in rural Idaho.

If you’d like to learn more about Dan Price and Gravity Payments, visit his website and follow him on Twitter @DanPriceSeattle.

Join thousands of ambitious people like you.

Take part in Farnoosh’s thriving personal finance community and receive her ebook, SO MONEY SECRETS, for free.