Gabe Newell Is The (854th) Richest Man On The Planet

Gabe Newell is now the 854th richest person on the planet, reports business website Forbes today. This is Forbes' 25th annual list of the world's richest billionaires — a list which cumulates to a record $US4.6 trillion amongst its members.

Newell's $US1.5 billion net worth places him amongst the 1,225 other billionaires. He joins 128 new list members, who range from gambling stars to fashion icons to those who've simply inherited their billions.

Valve sales in 2011 — both from the release of immensely successful Portal 2 and the digital distribution service, Steam — contributed to the company's $US3 billion enterprise value, according to Forbes:

Privately-held Valve Corporation is tight-lipped about revenues, and Newell doesn't comment on his personal finances. So in order to estimate his net worth, Forbes consulted with video game industry insiders, equity analysts, investment bankers, and technology analysts to figure out what the company is worth. Even the most conservative estimates put Valve's enterprise value at more than $US3 billion, and since Newell owns more than 50% of the company, that means he's worth at least $US1.5 billion.

Forbes compared the success of Valve's Steam platform to EA's digital distribution venture, Origin. But Steam's 40 million users far trumps Origin's 9.3 million, effectively rendering Valve's service a dominating powerhouse.

Valve's Gabe Newell Is The Newest Video Game Billionaire [Forbes]


Comments

    Take note, Activision.

      Activision would take the note, take a shit on the note, take a look at the note and use it to suck our money away.
      Because that's how they roll.

    yeah. treat your customers with respect and good products and services and the monies will come

    Yeah. treat your customers with respect and good products and services and the monies will come.

      But Value aren't respecting the Half Life fans. Instead they are teasing them, that's not respect, that's just cruel.

        I'm amazed that people don't give Valve the benefit of the doubt.

        I've got a prediction (or naive hope) that the reason for the delay is that they're working on more than one game at a time; so HL3 / Ep3 will be released in a followup to the best value pack ever; the Orange Box.

    Gabe Newell will die in your lifetime.

      One day we'll wake him up, so that he can live forever...

    ...and good for him.
    If anyone's worthy of being super-rich, it's Gabe.
    Now, if only we could work out how to stop him spending it all on cupcakes ...

    Hope he's enjoying the yatch that all my Steam purchases have paid for. :P
    And to Ubisoft, EA, Activision - please take note.

    Gabe is the 1%! Occupy Valve!

    Ah fuck it, buy more Steam games!

    I hate Origin after trying to use it, damn thing doesn't even work, waiting 15 minutes for their live chat-support, and they ended it before they said anything, and because my problem isn't generating an error code, I can't send their little bug report form which needs an error code to be entered to send it, poor effort. (sorry for the 1 giant sentence)

      Wrong page?

    Is that why he won't answer my emails... come on Valve PUBLISH 'LUNAR FLIGHT' ALREADY!... *sigh*

    Rich, in calories!

      Look on the head on him! looks like a canetoad that has been run over a few times.
      He needs to settle down on the cheeseburgers

    Hahaha. GabeCube.

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