Valve has become one of the biggest digital video game distributors and game publishers to date. A majority of users and game developers use Steam to purchase and release new PC titles, not to mention the success of its home-grown Portal, Half-Life, and Team Fortress franchises, just to name a few. This company was one of the very few to have experimented with virtual reality and released hardware such as the HTC Vive and Valve Index. It also created the Steam Deck, a portable device to play PC games on the go.
All of this is possible thanks to Gabe Newell. Per Forbes, he co-founded the company with his colleague, Mike Harrington in 1998. He used to work for Microsoft before he transitioned to the gaming industry. But how much has Newell earned since he started his company over two decades ago?
Gabe Newell’s net worth
According to Bloomberg, Newell is ranked the 294th richest person, just below film director, Steven Speilberg and above Walmart heir, Nancy Laurie. His net worth has grown by $872 million year-to-date (as of June 2023), but it didn’t affect his bottom line. As of writing, Newell’s net worth sits at $7.77 billion. However, Forbes claims that Newell has a net worth of 3.9 billion, decidedly lower than Bloomberg’s report.
Newell became a video game billionaire in 2011, when he secured a net worth of $1.5 billion and debuted in the top billionaires’ list at 854th place. The reason for his financial success is not only because of the impact his company made in the gaming industry, but also his reported collection of a percentage of video game sales made through Steam. Forbes’ estimate is he owns a one-quarter stake in the company.
Newell has a passion for video games. So much so that he personally signed and hand-delivered part of the first batch of Steam Decks. Hopefully, his passion for video games continues to bring success to Valve, and the industry at large.
