Forbes Declares Gabe Newell "Newest Video Game Billionaire"

[Shawn Zipay]

Earlier yesterday, Forbes came out with a rather thought provoking article in which they declare that Valve's Gabe Newell is is the "newest video game billionaire." In fact, with their estimates, they say Newell is worth roughly $1.5 billion (USD) and ranks 854th out of the 1,226 billionaires throughout the world.

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 $3 billion, and since Newell owns more than 50% of the company, that means he’s worth at least $1.5 billion.

Valve's mega-worth is due largely to them publishing the 1,800+ games available through Steam and the more than 40 million registered users. Other revenues obviously come from sales of their first-party title such as Portal 2, Left 4 Dead, and more.

[pimpdad82]

Grats Gabe! I'm sure some of that was my money but it was well deserved.

[CptainCrunch]

Re: Forbes Declares Gabe Newell "Newest Video Game Billionaire"

Well deserved? He STOLE that money.

[jimykx]

Re: Forbes Declares Gabe Newell "Newest Video Game Billionaire"

Well deserved? He STOLE that money.

By manipulating people's will ? xD

[Stev0esque]

Re: Forbes Declares Gabe Newell "Newest Video Game Billionaire"

Well deserved? He STOLE that money.

Other than HATS HATS HATS how may I ask?

[nemes1s3000]

What in the bloody shit..? There are 854 billionaires around the world..? No wonder earth sucks ass.

But then again, Gabe, along with Valve, did use millions of their hard earned dollars from selling the first Half-Life, to create the Source engine. These guys could've easily pissed away all of their dough on Ferraries and shitty looking mansions, but instead devoted their time and money into future titles and projects. Kudos to to you Gabe, you've earned it. Now can I have a hat please?

[CptainCrunch]

All billionaires steal their money. Look at that face. That is a man prepared to go to jail.

[K-16]

Mommy! Daddy! Keep that scary man away from me! Those eyes... THOSE EYES!!! I can't sleep! Those eyes keep staring at me! WAH!!! Seriously though, that is one scary picture chosen for this article. I can feel his stare burning into the back of my skull. Too bad we don't actually know how much the company is worth given how these are entirely based off of speculators (like oil prices). Nice to see the CS-Nation (TGN too?) website back up sooner than expected though.

[hymbot]

who knew steam sales made so much money? lol