Move Over Spiegel, The World Has Got A New Youngest Self-Made Billionaire

Irish technopreneur and Stripe co-founder, John Collison, is now the world’s youngest self-made billionaire with assets worth of at least $1.1 billion. John’s induction into the billionaire’s club is thanks hugely to Stripe’s new round of funding which realized $150 million from investors including Alphabet’s CapitalG and General Catalyst Partners, bringing the private company’s valuation to about $9.2 billion– an impressive boost from July 2015’s $5 billion valuation.

Though John and Snapchat billionaire co-founder Evan Spiegel, were born in the same year- 1990, John is two months younger. John and his 28-year-old brother Patrick Collison who is now also worth $1.1 billion co-founded the online payment company back in 2011 and it has since enjoyed an exponential growth.

Together with another Snapchat billionaire co-founder Bobby Murphy, aged 28, Patrick, Evan and John are the world’s ONLY self-made billionaires under 30 years old.

See Also: Top 15 Youngest Tech Billionaires of The World

John Collison World's Youngest Self-made Billionaire

The Collison brothers previously owned 30% of Stripe, but following the latest funding, Forbes speculates that their holding could reduce to 24% that is 12% for each Collison brother.

However, the Collison brothers aren’t new to banking top dollar for their endeavors as Stripe isn’t their first company. John and Patrick developed a passion for coding as kids and soon made it a hobby to compete against each other. As a result, their parents who were hoteliers were forced to install a special satellite at their home near Limerick, Ireland.

See Also: Stephen Hawking Profile

At the age of 16, Patrick won the 41st Young Scientist and Technology Exhibition in 2005. Two years later in 2007, he founded software company “Shupper” in Limereck with John. Afterwards, the company attracted the attention of start-up incubator Y Combinator and moved to the US. John and his brother merged their company with two other Oxford alumnus to form Auctomative, an online auction system which built tools for the eBay platform.

John Collison World's Youngest Self-made Billionaire

The sale of the company to Canada’s Live Current Media in 2008 for $5 million automatically made the Collisons millionaires. At the time, John was 17 while Patrick was 19. Patrick remained in the company as the Director of Product Engineering.

John then graduated from high school with 8 A1s and 2 A2s. He returned to the US and enrolled at Harvard while his brother enrolled at Massachusetts Institute of Technology. The brothers both dropped out of college before they could bag any degree.

READ   At $250,000, Range Rover SVAutobiography is the Most Expensive Range Rover Ever

See Also: 15 College Drop Outs Who Became Billionaires

In 2010, the duo discovered how difficult it was to make and receive online payments. In a bid to find a solution, they founded Stripe. Stripe grew exponentially and soon raised $2 million from tech elites like Elon Musk, Peter Thiel, and Max Levchin. The platform is now a favorite among web developers thanks to its adherence to its aim of providing “secure” infrastructure for online payments.

John Collison World's Youngest Self-made Billionaire

The Collison brothers and their Stripe are setting up for greater achievements. Just after 5 years in business, the San Francisco-based company now employs over 300 with John serving as the President and Patrick as the CEO.

Stripe earns 2.9% plus 30 cents from each online transaction it processes. In 2015 it processed payments of about $20 billion bringing their revenue for the year to an estimated $450 million. Among their clients include Lyft, Wish, Kickstarter.

Even with the impressive success Stripe has enjoyed, the brothers do not want you to think that Stripe has arrived just yet, in fact, they reckon that thinking the exact opposite is what would keep them thriving. Patrick in an interview with Forbes Magazine said;

“Heartening as the success to date has been, we are so early in accomplishing the goals that we set out for ourselves, if anyone here believes that Stripe has already made it, that would be hugely problematic for us.” Watch out, Zuckerberg

John Collison World's Youngest Self-made Billionaire

With their individual $1.1 billion assets, the Collison brothers are now two of the only 8 billionaires from Ireland. However, they still have a lot to do in terms of dethroning the nation’s richest man, Pallonji Mistry, an 87-year-old construction mogul who is worth $13 billion.

Also while John Collison may take much pride in being the world’s youngest self-made billionaire, he isn’t the youngest billionaire in the world. That title goes to Alexandra Andresen, a 20-year-old Norwegian heiress who together with her 21-year-old sister Katharina Andresen inherited 42% of their family’s investment company, Ferd to put their individual assets at $1.2 billion.

Both make it to our list of world’s most eligible bachelors and bachelorettes which of course now includes the Collison brothers.

Uwa Echebiri
Uwa Echebiri
Uwa has extensive professional writing and editing experience including report and technical writing, product reviews, informational and persuasive articles, creative and content writing on nearly any topic, from entertainment to lifestyle, finance, sports and more. As a lifelong movie buff, Uwa is either bingeing on new movies during leisure, or giving someone a whopping on the latest FIFA edition

Recommended

Top 20 Highest Paid TV Actors In The World For 2020 And Their Net Worths

Even though the Hollywood movie industry is a multi-billion-dollar money-making machine, the television department can’t be left out when it comes to eye-popping earnings...

Interesting Tidbits About Kate Gosselin’s Family, Show, Divorce And Net Worth

Kate Gosselin is an American TV personality. She gained international fame on the reality TV show Jon & Kate Plus 8 which documented her...

Tfue Net Worth – How Much Money Does The Fortnite Player Make?

Twitch users, Fortnite, and eSports fans will be familiar with Turner Ellis Tenney. Better known as Tfue online, his work on the streaming platform...

Rod Stewart Net Worth – How Much Money The ‘Forever Young’ Singer Makes

Rod Stewart may be one of the greatest rock and roll singers of all time but it wasn’t easy achieving that status. As a...

Coffee Meets Bagel Net Worth and Valuation Since Appearing on Shark Tank

Our TV screens are riddled with numerous reality shows promising one thing or the other. Many have come to doubt the veracity of these...

Truth About Lil Boosie’s Net Worth and Accomplishments, Kids And Death Rumor

i Lil Boosie, now Boosie Badazz is an American rapper and actor. The gangster rapper was once worth $4 million but after he was sentenced to...

Erin Everly – Inside The Life of Axl Rose’s Former Wife

If you are familiar with the popular rock star and the lead singer of the hard metal rock band known as Guns N’Roses, then...

A Reveal of Greta Thunberg’s Net Worth and How The Activist Gets Money

Greta Thunberg is a young activist who has defied all odds to make her voice heard across the globe with her awareness about the...

Bob Dylan Net Worth – How Much Money Does The ‘Like A Rolling Stone’ Singer Make?

Not many songwriters can say they have won the Nobel Prize in Literature. Indeed, not many singers can say they have sold nine-figures worth...

Untold Truth Of About Axl Rose Of Guns N’ Roses

Axl Rose is an American singer-songwriter and musician. He is best known as the lead singer of the highly successful rock band Guns N'...

What Is Bruce Willis Net Worth and Who Are His Family Members?

Bruce Willis is a well known Hollywood action movie star. With over 3 decades and counting in the industry, the Die Hard star has shown...

Bill O’Reilly Personal Life and Career, Net Worth, and Why He Divorced His Wife

Bill O'Reilly is an American political commentator, journalist, television host, syndicated columnist, and bestselling author. He is best known for his eponymous Fox News...

Featured Today

Who is Mark Steines and What is He Doing Now?

American broadcast journalist Mark Steines is a power to reckon with in the broadcasting industry. Best known for hosting celebrity news show, Entertainment Tonight...

Rod Stewart Net Worth – How Much Money The ‘Forever Young’ Singer Makes

Rod Stewart may be one of the greatest rock and roll singers of all time but it wasn’t easy achieving that status. As a...

Who Is Sandra Otterson? Her Personal Wealth, Life and Quick Facts

American adult star, Sandra Otterson, currently based in Arizona, USA has is worth about $5 million. Background and Career Sandra Otterson, popular with the name ‘Wifey‘...

Graveyard Carz Cast Members Who Left The Automotive TV Show

We probably all yearn for the yesteryears' kinds of stuff (music, dressing, lifestyle, etc) at some points in our lives. It is this same...

Related Stories