Gabe Newell Appears on List of Global Billionaires

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Gabe Newell Appears on List of Global Billionaires

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Forbes estimates that the Valve CEO is worth somewhere in the region of $1.5 billion.

According to Forbes, game industry behemoth Valve is more tight-lipped about its finances than other companies of a similar stripe. For that reason, working out how much money it's making from Steam and its various bestselling games becomes a bit of a guessing game. Still! Forbes has a responsibility to figure out who's worth what and make the rest of us feel achingly poor, right? So that's just what it did.

By "[consulting] with video game industry insiders, equity analysts, investment bankers, and technology analysts," Forbes was able to draw up a reasonably reliable estimate of Valve's net worth. The final figure is around $3 billion (insert "Valve can't count to three" joke right here) for the company as a whole, of which CEO Gabe Newell owns more than 50%. If we take the $3 billion figure as a reliable estimate, that puts the estimate on Newell's worth at an eyewatering $1.5 billion. This makes Newell the 854th richest billionaire out of the world's 1,226 billionaires. Whew.

Valve's Steam service, which still dominates the digital download market by a huge margin, is likely the driving force behind the company's massive net worth. With over 1,800 games available from more than 50 publishers, it faces very little in the way of competition (though EA continues to pimp its Origin service, its user numbers pale in comparison to Steam's).

While we all knew that Valve (and by extension, Newell) were worth a lot, billions is perhaps an unexpected word. Still, it's not like they haven't worked for it - Newell has often reiterated that customer experience is the central ethos behind Steam, and its user base count speaks to its efficiency.

Source: Forbes Online

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I dont think we can really complain, they have earned it. I wonder how much more they would get if they released hl3. Think about it gabe.

So... they are nigh-universally loved, produce awesome games, apparently don't do anything evil and still manage to make a metric crapton of cash?

Huh.

Remind me again why more game companies aren't imitating Valve...?

Hevva:
According to Forbes, game industry behemoth Valve...

Don't you mean Gabe Newell? I'm sorry, I couldn't resist.

On topic, unsurprising. I would have thought he'd be worth more, actually. How much does Steam rake in on a daily basis?

How shocked can you be that the CEO of Valve is worth a shit ton of cash. Those guys can print money with every released game.

I don't really give my appreciation to companies this big (not out of sheer hatred towards them, but rather because I don't tend to care too much) but I'll have to agree with the statement "Well, they earned it". Look at their games, and then look at Steam, probably the most pleasant type of DRM in existence, and I think you'll agree on it.

It'd be funny and actually somewhat even rewarding to see when Half Life 3 will beat the sales of Modern Warfare 3. Well at least I hope I live that day...

Sparrow:

Hevva:
According to Forbes, game industry behemoth Valve...

[/small]

On topic, unsurprising. I would have thought he'd be worth more, actually. How much does Steam rake in on a daily basis?

3 Billion $ is conservative estimate - because Valve doesnt make financial results public, its hard to make reliable estimate company value.

Zhukov:

Remind me again why more game companies aren't imitating Valve...?

Because Gabe found the triforce of ethicalyetprofitablebusinessmodel and isn't sharing.

Hevva:
By "[consulting] with video game industry insiders, equity analysts, investment bankers, and technology analysts,"...

That is quite possibly one of the fanciest ways of pulling shit out of your ass I've ever read in a sentence.

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In all seriousness I'm not terribly surprised. Steam is massive among PC gamers.

Honestly if I had to guess I'd say they low balled it but I'm not an industry expert but then again I think those industry experts likely guesstimated as well. So what are you gonna do.

So Gabe now has enough money to murder people and buy his way out of trouble. Niiiice.

---

So now we know they can afford the blowtorches now use them and scrap CS:GO (not a CS lover...) and give me HL3/Ep3...

And how come they Steam have DRM but no one is really complaining?
Oh forgot DRM=!customer hate....
And how much money did they have now again did you say?....

Fun thing is gamers been saying this for years but will the publisher change? yes but as slooooooooow as they possibly can..

Gammayun:
I dont think we can really complain, they have earned it. I wonder how much more they would get if they released hl3. Think about it gabe.

"Gabe, do you think we should get on with HL3, now?"

"Just one more year in my swimming pool filled with 50 dollar bills, I'll get out for all the big conferences and conventions, but only for those!"

And scene.

XDravond:
So now we know they can afford the blowtorches now use them and scrap CS:GO (not a CS lover...) and give me HL3/Ep3...

And how come they Steam have DRM but no one is really complaining?
Oh forgot DRM=!customer hate....
And how much money did they have now again did you say?....

That's because Steams' DRM is unobtrusive and can the vast majority of games can be played in offline mode (something many DRM solutions cannot do, *cough* Ubisoft *cough*).

Also, with that last line, did you just accidentally the English language..?

Griffolion:
*snip*

XDravond:
So now we know they can afford the blowtorches now use them and scrap CS:GO (not a CS lover...) and give me HL3/Ep3...

And how come they Steam have DRM but no one is really complaining?
Oh forgot DRM=!customer hate....
And how much money did they have now again did you say?....

That's because Steams' DRM is unobtrusive and can the vast majority of games can be played in offline mode (something many DRM solutions cannot do, *cough* Ubisoft *cough*).

Also, with that last line, did you just accidentally the English language..?

Yea not English language first and I tired am :)
And I was trying to be somewhat sarcastic, I've had my accidents with both Ubi and EA DRM schemes in a really bad way.... But Steams DRM isn't spotless had some minor problems with it (but most of those has been related to other companies schemes, like a certain key-check last year...) :P

Isan:

Zhukov:

Remind me again why more game companies aren't imitating Valve...?

Because Gabe found the triforce of ethicalyetprofitablebusinessmodel and isn't sharing.

I remember one interview where Gabe admittet that he has no idea why people keep throwing money at them. So I won't bet on them having a big secret, they just do things the right way: The way everyone in the company is satisfied.

I don't know why but all I can think of when I see this is Gabe's Rise to Power...

I would really hate to know how much of that came from TF2 keys sales.

I hope it was worth the weight

Gabe is the hero that video games deserve.

But not the one it needs right now.

So we'll mock him. Because he can take it.

He is a silent guardian.

A watchful protector.

A Pork Knight.

.

.

Seriously though, glad to see this. Gabe and Valve are one of the last bastions for great AAA games that aren't compromised in their vision.

I hope only success on them and the "SteamBox" for the future.

I am actually not mad. They provide a service that have yet to fuck customers over and overall they have been very friendly to their customers. I had my Steam account hijacked through my own house's wi-fi but customer service was able to quickly get it back to me, and they wished me a good day! On that same topic, several people from my school have had their accounts deleted by Valve for some of the stupidest reasons and lost a lot of games.

Sounds like he's worth more than Bill Blizzard!

My god i bet that fat bastard is banging models everyday :X
Im so jelouse . . . why didnt i invent Steam . . . WHYYY!

Zhukov:
So... they are nigh-universally loved, produce awesome games, apparently don't do anything evil and still manage to make a metric crapton of cash?

Huh.

Remind me again why more game companies aren't imitating Valve...?

Because it is easy to be an asshole and act like profits require losing your humanity.

"It's just business" is a terrible excuse and the fact that suckers ate it up in the past is deeply disappointing.

I'm glad Gabe has made billions, he joined an unusual pantheon of "billionaires I like".

Not really sure why, but this made me happy.
I suppose I´ma Steam/Valve fanboy at heart...who knows.
But yeah. Go, Gabe!

After the Orange Box I'm counting on Gabe being a Huge Success.

Pfff, he's not even top 100...which in itself is pretty fucking sick. 1.5 BILLION and you're still poor compared to some people...

Eh, I don't trust much Forbes' guesstimates. Plus it's not like Gabe can turn his $1.5 billions into actual dollars.

Zhukov:
So... they are nigh-universally loved, produce awesome games, apparently don't do anything evil and still manage to make a metric crapton of cash?

Huh.

Remind me again why more game companies aren't imitating Valve...?

Firstly because being nigh-universally loved is not something you can do easily, and secondly because apparently not doing anything evil is an outcome of that, since when you're nigh universally loved nothing you do is apparently evil, while when you're EA everything you do is apparently evil.

I'm not really surprised
1 they're one the THE BEST game companies around
2 they made TeamHat Fortress 2
they deserved it

So I guess now he can afford a dietician to help him lose some weight.

I've just realised, Gabe looks just like Grendell from that Warhammer 40K Tabletop game that got slightly out of hand (and into awesome): http://1d4chan.org/wiki/The_Guy_Who_Cried_Grendel

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It explains so much...

Reminds me of when I worked at MVC, a music and movie store in the UK, and they were a fine company to work for, if you had an interest, you'd be assigned the 'expert' for that genre, I was the go to guy for gaming, you'd be encouraged to talk with customers, put forward your own recommendations, not just go with whoever had paid for the chart placements that week, and generally it was a good place to work, and we did a decent amount of business.

Then we got bought out.

New management scrapped all perks, told us to effectively shut the hell up and get behind the till and SELL. Anyone buys anything, push preorders, offer them a range of crappy dvds for another three quid, do the bare minimum of customer service, as refunds etc cut into our bottom line, etc.

We shed customers like hair off an Afghan hound, and of course each month the figures came in and head office would tell us we're not trying hard enough. Regular customers stopped coming, new customers were obviously going to Tesco or online to save a pound, and sales were dwindling, along with the staff, as they quit to go find a job that wasn't feeding off their souls suddenly.

Entire company hit the wall about six months later.

I just hope Steam will become a sign of how to do it right ( tho I admit their customer service wasn't up to much a few years ago, but I hear it's improved over time. )

What the brick and mortar stores keep doing wrong, and I'm no business expert, but my father agrees with me, is you can't beat online for price in general, you've got too many overheads.

Offer service, care, and expertise, online can't do that half as well as a real person. Hire people who give a damn, and pay them enough to keep them giving a damn.

My parents often pay over the internet price for things, knowing that if there's a problem, they can walk right back into the store and see a real person, and that attitude won't change until online can offer the same levels of service, I think.

josemlopes:
I hope it was worth the weight

NOOO!! You just delayed Episode 3 again!

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