John Collison can travel First Class all the way. At 26 he is the youngest billionaire in the world. How did he make his fortune? Read on. . .
Step aside, Evan Spiegel. There’s a new kid in town. There’s a new, rich 20-something entrepreneur in the spotlight. Who is it?
Born in Limerick, Ireland, John Collison is the 26-year-old co-founder of Stripe. Stripe, for those not in the know, is the online payments processing company founded in 2010 and now reportedly powering numerous in-app purchase systems. Forbes magazine just officially declared him the world’s youngest self-made billionaire on its 2016 “world’s richest” list.
Collison is actually two months younger than Evan Spiegel. Spiegel is the co-founder of Snapchat. Spiegel was actually designated the world’s youngest self-made billionaire in 2015 when he was still 25. His company, Snapchat, recently went public.
According to Forbes, Collison currently has a net worth of $1.1 billion. Spiegel’s net worth is reported to be $4.3 billion. (Obviously, both Collison and Spiegel have no trouble funding any traveling they wish to indulge in during their free time.)
“When Did This Happen?”
Sources at Money confirm that Stripe drummed up “a $150 million in funding in November. The company was valued at $9.2 billion. Forbes notes that that is the moment Collison became “the world’s youngest self-made billionaire.”
Both Collison (CEO) and his sibling Patrick (president) “took up coding as kids.” They competed “against each other [in order] to master the craft.” Prior to their creating Stripe, they had another successful enterprise.
The pair started a tech company called Auctomatic. In 2008 they sold the business for $5 million. At the time, they were still teenagers.
Last summer Collison was interviewed by Fortune. He discussed what was on Pinterest and Twitter, a couple of the internet’s biggest businesses, to choose his company’s technology. He said:
“You should not have to go build out everything yourself from scratch.” He added: “Stripe should give you all this infrastructure [for] doing something that, in a way, is pretty complex.” The company is now valued at approximately 1.75 billion with investors ranging from Peter Thiel to Elon Musk.
“To The Desert”
Needless to say, Collison can travel without the use of special ticket deals or use credit card points. In fact, he did some international traveling last November. According to his post on Twitter, he took a trip to Israel with his brother Patrick and another member of the family.