Quick Facts of
- First NameGabe
- Last NameNewell
- Net Worth$ 3.5 Billion
- CareerAmerican computer programmer, Businessman
Gabe Newell, an American computer programmer & businessman currently serves as the President of Valve Corporation (1996- Present), a game developer & digital distribution company.
Ownership of 50% stake in the company & with releases of many best-selling PC games such as Half-Life, Counter-Strike, Portal & Dota series, Newell claims a notable place among wealthiest video-game developers as well as in Billionaires’ Club.
Formerly, he worked in Microsoft, serving as producer of early Windows OS but left to pursue a career in a game-developing career.
How Much Is Gabe Newell’s Net Worth In 2020?
Gabe along with his former Microsoft co-worker Mike Harrington founded Valve Corporation (also Valve Software) in 1996 & released their debut game Half-Life in 1998.
The first-person shooter game, Half-Life won over 50 Game Of The Year Awards, which proved an elevation of video-game development success for the company.
As per Forbes, Gabe Newell has a net worth of $3.5 billion as of March 19, 2020; furthermore, he ranks #239 among Forbes 400 2019 and #529 in Billionaires 2019.
Back in October 2017 & March 2018, the 57-year-old tech businessman recorded the highest-ever fortune at $5.5 billion, however, it has seen around 36.36% downhill over the course of 2 years, coming to 2020.
Ever since Valve‘s foundation, it is privately held while Gabe, individually, owns 50% of the company stake.
Also, the company runs video game digital distribution service Steam since 2003, which represented 18% of global PC game sales in 2017.
No doubt, that the BAFTA Fellowship winner with such prominent success would be able to accumulate billions of dollars shower.
Net Worth Over The Years (report by Forbes):
|March 2015||$1.3 billion|
|March 2016||$2.2 billion|
|March 2017||$4.1 billion|
|March 2018||$5.5 billion|
|March 2019||$3.9 billion|
Interesting Fact: Newell took interest in game-developing after playing id Software’s ‘Doom’ and ‘Quak’ & later left Microsoft to pursue a career as PC game developer.
Left Microsoft & Founded Valve Corporation
Gabe dropped out of The Harvard University (1980- 1983) to join American tech company Microsoft, co-founded by Bill Gates & Paul Allen.
During his 13 years of career in Microsoft, Newell worked as a producer of early operating systems (OS) producer of Windows 1.01, 1.02, and 1.03 operating systems.
After leaving the aforementioned company, Gabe & his Microsoft co-worker Mike Harrington invested their money to co-found Valve Corporation; it founded on August 24, 1996.
Its headquarter is in Bellevue, Washington & has 201-500 employees as of early 2020.
As reported, in 2012, the Valve became one of the most profitable company per employee (had 250 employees) in the USA & recorded a worth of $3 billion.
Moreover, on September 12, 2003, the company launched video game digital distribution service Steam.
The platform held 75% of the market space of PC games distribution by 2013 & totaled $4.3 billion in revenues from Steam sales in 2017- roughly 18% of global PC game sales.
Moreover, the Steam generates additional revenue through sales of Steam Machine microconsoles, SteamOs and Steam Controllers.
Gabe’s Company Evolve To Success: Games Releases & Sales
In 1998, the Valve released their debut product, Half-Life, a first-person shooter game that reportedly sold over 9 million copies by 2008.
Also, the game won over 50 Game of the Year Awards. Including 2 main games & expansions, the Half-Life collectively has sold 25.1 million copies.
In 2019, the Valve announced to the release of virtual reality game Half-Life: Alyx (released on March 23, 2020).
Gabe Newell’s success rose up even more, after releasing games such as Portal, Day of Defeat, Team Fortress, Left 4 Dead, Counter-Strike, & Dota Series.
According to SuperData, Dota 2 generated $238 million in revenue for Valve in 2015 through sales of the game’s virtual goods.
Half-Life game series (including expansions) & sales:
|Games||Copies Sold (report of 2008)|
|Half-Life (1998)||9.3 million|
|Half-Life 2 (2004)||9.5 million|
|Half-Life 2: Episode One (2006)||4.4 million|
|Half-Life 2: Episode Two (2007)||2.3 million|
|Half-Life: Opposing Force (1999)||1.1 million|
|Half-Life: Blue Shift (2001)||800 thousand|
Counter-Strike series sales:
So far, with 3 series of the Counter-Strike, the game franchise sold over 11 million units:
- Counter-Strike (2000)- It sold over 4.2 million units; in August 2006, in the USA only, its 550,000 copies earned $15.7 million.
- Counter-Strike: Condition Zero (2004)– 2.9 million copies
- Counter-Strike: Source (2006)– 2.1 million copies
Did you know? The first edition of ‘Half-Life’ made $8.6 million by the end of 1998, while revenue in 1999 & 2000 were $16. 6 million & $8.98 million respectively.
Lives In Seattle With Wife: What About His House & Cars?
Being a billionaire had its own perks, but it seems Gabe Newell prefers to keep it simple & low as key as possible.
Reportedly, Newell lives with his wife of 23 years, Lisa Mennet in Seattle, Washington. The duo married on August 24, 1996 (same day when he founded ‘Valve’) & are together ever since.
The couple is parents to 2 children; including a son named Gray.
Meanwhile, no further update on his property details is out. The median house price in Seattle is $752,187.
As reported, Newell owns a 2014 Porsche Cayman, which is a huge transition in comparison to his first car, 1967 Ford Fairlane.
When & Where Was Gabe Born?
Gabe was born Gabe Logan Newell on November 3, 1962, in Colorado, the USA. He is also famous for his nickname “Gaben”.
He attended Davis Senior High School in Davis, California & later enrolled at Harvard University in 1980. However, in 1983, he dropped out of the University to work in Microsoft.
As for a fact, the American computer programmer was formerly diagnosed with Fuchs’ dystrophy, which affects the cornea of the eye. He got cured after he underwent 2 cornea transplants in 2006 & 2007.