Dan Value, who gained quasi-stardom after elevating his workers’ salaries to at the very least $70,000 whereas slicing his personal pay, has resigned as chief govt of Seattle-based Gravity Funds after a rape allegation in Palm Springs lately got here to mild.
Value, who based the corporate that processes bank card funds, announced his resignation on Twitter final week.
The 38-year-old is accused of raping a lady in Palm Springs in April 2021, the second public allegation in opposition to him of violence in opposition to girls lately. In accordance with an investigation by the New York Occasions, the 2 incidents observe years of alleged predatory habits and abuse by Value, together with accusations from his ex-wife of home violence — whereas his prominence grew as he touted the revolutionizing of huge enterprise with progressive insurance policies.
Investigators with the Palm Springs Police Division submitted the rape case for overview to the Riverside County district lawyer’s workplace final week, based on Lt. Gustavo Araiza. He declined to launch any additional particulars of the report, citing an lively investigation. Araiza stated an arrest warrant could also be issued after prosecutors overview the case.
John Corridor, the spokesperson for the district lawyer’s workplace, stated the case “is at present below overview and no submitting determination has been made presently.” He declined to offer a timeline for that call.
In accordance with the New York Occasions story, Palm Springs police advisable a cost of rape of a drugged sufferer after a lady reported that Value sexually assaulted her with out her consent whereas she was asleep at a Palm Springs resort.
Value didn’t instantly reply to a request for remark however referred to as the allegations in opposition to him “false accusations,” in a statement on Twitter. In the identical publish, Value introduced his resignation as CEO.
A request for remark from Gravity Funds was not instantly answered.
“My presence has turn out to be a distraction right here. I additionally must step except for these duties to focus full time on combating the false allegations in opposition to me,” Value posted on Twitter. “I’m not going anyplace.”
In February, Value was charged with fourth-degree assault with sexual motivation, fourth-degree assault and reckless driving in Seattle after a lady accused him of forcing undesirable kisses on her, then grabbing her by the throat when she refused, based on the Seattle Occasions. He lately pleaded not responsible to the misdemeanor assault and reckless driving fees; prosecutors dropped the cost of assault with sexual motivation.
Value rose to fast fame in 2015 after deciding to boost his workers’ beginning wage to $70,000 to deal with the massive earnings hole between him and his lowest-paid workers and supply a residing wage. He was making $1 million a yr on the time, he stated, whereas the bottom earners at his firm have been averaging about $35,000. He took an virtually 93% pay lower to make the raises for his workers occur — a transfer that went virtually immediately viral.
Value turned the topic of a media frenzy, featured in dozens of exhibits and articles, together with on NBC’s “Right this moment” present and NBC Information and within the Los Angeles Occasions, for his goodwill and revolutionary pay construction. He was referred to as a “crusader in opposition to earnings inequality” by Inc. Journal and a “capitalist fairy story” by Bloomberg.
Value has continued to tout his determination, calling it not solely a morally proper transfer but in addition good for enterprise, citing decrease turnover charges, the corporate’s development and tons of of keen job candidates for any open positions.
Value named Tammi Kroll, Gravity’s chief working officer, the corporate’s new CEO.