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THE BUZZ: Business publication Forbes has revealed that Valve co-founder Gabe Newell is worth more than $1 Billion.

Around $1.5 Billion to be exact, which places him at number 854 in the current list of 1,226 billionaires.

Newell used his savings to co-found Valve back in 1996 and now holds more than a 50 percent share of the private company.

Since he never discloses his finances, Forbes estimated his worth by consulting with various industry insiders, equity analysts and investment bankers to determine how much Valve is worth.

According to them, the company is valued at around $3 Billion at the lowest estimate which makes Newell, who owns half, worth around $1.5 Billion.

EGM’s TAKE: Well it appears that when you’re worth over a billion dollars you can choose when you want to tell people about your newest game. That’s based on the fact that it’s been years since the last Half-Life, and no matter how much fans beg, cry and plead Valve has given us nothing.

Source: Forbes

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About Matthew Bennett

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Matt is one of the longest-serving members of the EGMNOW team. An ability to go many hours without sleep and a quick wit make him ideal for his role as associate editor at EGMNOW.com. He often thinks back to the days when the very idea of this career seemed like nothing but an impossible dream. Find him on Twitter @mattyjb89

Gabe Newell is Worth Over $1 Billion

Business publication Forbes has revealed that Valve co-founder Gabe Newell is worth more than $1 Billion.

By Matthew Bennett | 03/8/2012 10:14 AM PT

News

THE BUZZ: Business publication Forbes has revealed that Valve co-founder Gabe Newell is worth more than $1 Billion.

Around $1.5 Billion to be exact, which places him at number 854 in the current list of 1,226 billionaires.

Newell used his savings to co-found Valve back in 1996 and now holds more than a 50 percent share of the private company.

Since he never discloses his finances, Forbes estimated his worth by consulting with various industry insiders, equity analysts and investment bankers to determine how much Valve is worth.

According to them, the company is valued at around $3 Billion at the lowest estimate which makes Newell, who owns half, worth around $1.5 Billion.

EGM’s TAKE: Well it appears that when you’re worth over a billion dollars you can choose when you want to tell people about your newest game. That’s based on the fact that it’s been years since the last Half-Life, and no matter how much fans beg, cry and plead Valve has given us nothing.

Source: Forbes

0   POINTS
0   POINTS



About Matthew Bennett

view all posts

Matt is one of the longest-serving members of the EGMNOW team. An ability to go many hours without sleep and a quick wit make him ideal for his role as associate editor at EGMNOW.com. He often thinks back to the days when the very idea of this career seemed like nothing but an impossible dream. Find him on Twitter @mattyjb89