Gabe Newell is now the 854th richest person on the planet, reports business website Forbes today. This is Forbesâ 25th annual list of the worldâs richest billionairesâa list which cumulates to a record $4.6 trillion amongst its members.
Newellâs $1.5 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 whoâve simply inherited their billions.
Valve sales in 2011âboth from the release of immensely successful Portal 2 and the digital distribution service, Steamâcontributed to the companyâs $3 billion enterprise value, according to Forbes:
Privately-held Valve Corporation is tight-lipped about revenues, and Newell doesnât 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 Valveâs enterprise value at more than $3 billion, and since Newell owns more than 50% of the company, that means heâs worth at least $1.5 billion.
Forbes compared the success of Valveâs Steam platform to EAâs digital distribution venture, Origin. But Steamâs 40 million users far trumps Originâs 9.3 million, effectively rendering Valveâs service a dominating powerhouse.
Valveâs Gabe Newell Is The Newest Video Game Billionaire [Forbes]
