Results 1 to 8 of 8

Gabe N is now a billionare

This is a discussion on Gabe N is now a billionare within the General PS3 Discussion forum, part of the Everything PlayStation; Valve's Gabe Newell Is The Newest Video Game Billionaire - Forbes Gabe Newell, co-founder and managing director of Valve Corporation, ...

  1. #1
    INTJ
    Ps360's Avatar


    Join Date
    Sep 2011
    Posts
    12,268
    Reputation
    310

    Gabe N is now a billionare

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

    Gabe Newell, co-founder and managing director of Valve Corporation, is one of the richest people on the planet. With an estimated net worth of $1.5 billion dollars, he ranks 854th out of 1,226 global billionaires.

    One of the most respected figures in the video game business, Newell makes his debut on Forbes’ list of the world’s billionaires after Valve posted a stellar 2011. The Bellevue, Wash. software firm scored hits both as game developer (Portal 2 was a monster hit) and game distributor (digital distribution platform Steam doubled sales for the seventh straight year, and has over 40 million users).

    Newell, 49, owns more than 50% of privately-held Valve, which he co-founded in 1996 after cashing in stock options earned over a decade producing software for Microsoft.

    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 is unlike any company in the video game business. More than half of their revenues come from selling downloadable games over Steam, which has dominated the digital sales channel since 2003, when it started as a platform for the company’s own games. In the years since, lack of competition allowed it to seize as much as 70% of the market: Today, Steam features in excess of 1,800 games from more than 50 different publishers.

    It’s far and away the industry’s most important digital sales channel, and no other game company has a comparable service. Last summer, video game giant Electronic Arts launched a counter-offensive, and its Origin service expanded quickly thanks to EA’s industry connections, and platform exclusives like Star Wars: The Old Republic. But Steam still has over 40 million users, compared to 9.3 million on Origin.

    The rest of Valve’s revenues come from publishing original games. Valve only launches a few games a year, but they tend to be hits: 2011′s Portal 2 is widely regarded as one of the best games of the year.

    This is the 25th annual edition of Forbes list of The World’s Billionaires. Our first cut yielded 140 names. This year we’ve counted an all-time high 1,226 billionaires worth a record $4.6 trillion. It includes 128 new billionaires, from 32 countries.

  2. #2
    Lvl 4 - Silver
    snow2288's Avatar


    Join Date
    Dec 2011
    Location
    Londonderry, NH
    Posts
    280
    Reputation
    13

    Good for him... imo its good to see some game designers ect up there



    LLWS 2010|The Price is Right : Decades|Trine 2|Rock Band 2|Monopoly Streets|Assassins Creed 2|NFS Shift|Family Game Night & 3|Dante's Inferno|Sonic Generations|Madden 10&11|Little Big Planet|Arkham Asylum|Toy Story 3|Heavy Rain|Infamous| Fallout 3|Prince of Persia: Forgotten Sands|GoW 1,2,3 & Origins Collection|Borderlands|CoD [email protected]|Mw2|Sly 1&2|Sonic's Genesis Collection|Jak: Precursor Legacy

  3. #3
    Huge Skip Bayless fan.
    El Jefe's Avatar


    Join Date
    Sep 2011
    Location
    Set of ESPN: First Take
    Posts
    3,357
    Reputation
    99

    well done newell, well done

    Formerly known as UrbanHellraiser


  4. #4
    The only sane person here
    KingLazy's Avatar


    Join Date
    Sep 2011
    Location
    California
    Posts
    1,222
    Reputation
    25

    Seems selling TF2 hat and etc items has paid off for him.

  5. #5
    PRO Member
    Gauss's Avatar

    Join Date
    Sep 2011
    Posts
    1,243
    Reputation
    98

    Uh-oh... Newell is apart of the 1%, we need to murder him.

    Seriously though, this news just came out, but this isn't new news.
    Gauss's Piracy Uncertainty Principle: When you pirate a game, that act inherently changes the results of what is to come after your pirating. You can't make any statement with any certainty regarding what would have happened had you not pirated the game.


    Gauss's Rating Rationale:
    0-1: A game whose very existence is abhorrent to all things creative and intelligent.
    2-4: A just plain bad game.
    5-6: A game that has alot of mistakes, but is atleast playable and has some enjoyable sections. Good for a rent.
    7: An average game, should be played at some point
    8: A good game, should buy at some point
    9: A great game, day-one purchase
    10: A game that goes above and beyond the generation, its transcendent.

  6. #6
    Lvl 7 - Gold
    DoomHorror's Avatar


    Join Date
    Sep 2011
    Location
    Pagan Lands
    Posts
    686
    Reputation
    27

    Good guy Gabe Newell


  7. #7
    PRO Member
    thedevilsminion's Avatar


    Join Date
    Sep 2011
    Location
    Prince Edward Island Canada
    Posts
    353
    Reputation
    8

    I thought we were in a recession and we have that many new billionares I think were being deceived


  8. #8
    Lvl 7 - Gold
    NTGSruler's Avatar


    Join Date
    Oct 2011
    Location
    Back Home!!!!!!!!!
    Posts
    626
    Reputation
    8

    Some people have all the luck

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


All times are GMT -5. The time now is 10:18 AM.
Powered by vBulletin® Version 4.1.10
Copyright © 2018 vBulletin Solutions, Inc. All rights reserved.
Search Engine Optimization by vBSEO