Report: Valve's Gabe Newell worth $1.5 billion

Valve Software has been evaluated at a whopping $3 billion, according to industry analysts. The report claims that since co-founder Gabe Newell himself owns more than 50% of the company, his personal net worth is valued at least $1.5 billion.

The evaluation comes from Forbes (via GameSpot), which spoke to equity analysts, investment bankers, and technology analysts to find the figure. Valve is notoriously secretive about its figures, but Forbes seems confident in its sources. If accurate, this would make Newell one of the richest people in the world, ranked number 854 of the 1,226 billionaires alive.

The report credits the Steam distribution service as the major driver of the company's riches, but also mentions Valve's own popular franchises. Newell appears on Forbes' list of billionaires, which includes names like Bill Gates and Warren Buffett.