Dan Price, founding father of Gravity Payments, joins Charles Payne with perception on ‘Making Money.’
Dan Price, the CEO of bank card processing corporate Gravity Payments, resigned on Wednesday.
Price made headlines in 2015 when he introduced he was once giving himself a drastic pay minimize to assist quilt the price of giant raises for his workers.
Earlier this yr, Seattle prosecutors charged Price with misdemeanor attack and reckless using, in keeping with The Seattle Times.
Prosecutors say Price attempted to forcibly kiss a girl in his automobile then grabbed her throat when she refused him. He pleaded now not accountable in May. The case stays ongoing.
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Dan Price, former CEO of Gravity Payments. (Leonard Ortiz/MediaNews Group/Orange County Register by the use of Getty Images / Getty Images)
“My No. 1 priority is for our employees to work for the best company in the world, but my presence has become a distraction here,” Price wrote in a observation on Twitter. He based the corporate 18 years in the past.
“I also need to step aside from these duties to focus full time on fighting false accusations made against me,” he wrote. “I’m not going anywhere.”
Back in 2015, Price shocked his 100-plus staff when he informed them he was once chopping his more or less $1 million wage to $70,000 and the usage of corporate earnings to be sure that everybody there would earn a minimum of that a lot inside of 3 years.
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His brother Lucas sued him in 2015, alleging that Dan Price was once overpaying himself. A King County pass judgement on dominated that Dan had now not violated Lucas’ rights as a minority shareholder.

Gravity Payments CEO Dan Price attends the Canoche Benefit for the RC22 Foundation hosted by way of Robinson Cano on the Paramount Theatre on June 3, 2015, in Seattle, Washington. (Mat Hayward/FilmMagic / Getty Images)
Allegations that Price had abused ex-wife Kristie Colon additionally surfaced that yr. A Bloomberg record recounted an October 2015 TEDx communicate given by way of Colon all through which she described being overwhelmed and waterboarded by way of her ex, with out naming Price.
Price informed Bloomberg the ones occasions “never happened.”
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Chief working officer Tammi Kroll will take over as CEO.
The Associated Press contributed to this record.