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Nov 29, 2016 @ 17:28

Stripe Investment Makes Cofounder The World’s Youngest Self-Made Billionaire

 

The cofounders of Stripe joined the ranks of the world’s youngest billionaires after the online payments company announced a new round of funding last week that valued the company at $9.2 billion.

Brothers Patrick Collison and John Collison are now worth at least $1.1 billion each after San Francisco-based Stripe raised $150 million from CapitalG, an investment division of Google parent company Alphabet, and General Catalyst Partners. With the latest investment, the startup’s valuation almost doubled. In July 2015 a fundraising round had valued the company at $5 billion.

Prior to the latest round, the Collisons owned about 30% of Stripe, according to a source close to the company. Following the $150 million investment, FORBES estimates that each brother owns at least 12% of the company. A spokesperson for Stripe declined to comment on the Collisons’ company stakes or net worths.

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