After another profitable year for Valve, company co-founder and managing director Gabe Newell, has become one of the world’s newest billionaires. Welcome to the club Gabe.
Forbes claims they consulted with “video game industry insiders, equity analysts, investment bankers, and technology analysts” to determine that Valve Corporation is worth at least $3 billion dollars, and since Newell owns 50 percent of the company’s stock that means he’s worth at least 1.5 billion.
What makes Valve’s profit margins unique for a video game company is that it makes most of its revenues from its Steam downloadable service. Steam has taken over 70 percent of the downloadable market and features in excess of 1,800 games from more than 50 publishers.
Since Newell has an estimated net worth of $1.5 billion dollars, he ranks 854 out of 1,226 global billionaires on Forbes list of the world’s richest people. Sure, he has a lot of money, but is he also rich in love? That’s the greatest treasure of all.