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Forbes Daily Briefing

How Valve Founder Gabe Newell Turned ‘Half-Life’ Into A Nearly $10 Billion Fortune

Forbes Daily Briefing

Forbes

Careers, Business, News, Entrepreneurship

4.612 Ratings

🗓️ 23 October 2024

⏱️ 5 minutes

🧾️ Download transcript

Summary

Here's the inside story of how one former Microsoft staffer turned Half-Life, a single best-selling game, into a nearly $10 billion fortune — and what he's working on next.

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Transcript

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0:00.0

Here is your Forbes Daily Briefing for Wednesday, October 23rd.

0:05.0

Today on Forbes, how Valve founder, Gabe Newell, turned Half Life into a nearly $10 billion fortune.

0:15.4

Last October, around 20 employees and alumni of video gaming giant Valve gathered at

0:21.2

the Lake House, a trendy restaurant in Bellevue, Washington, just outside of Seattle.

0:27.0

The artists and coders trickled into the private event to celebrate a big milestone.

0:32.0

The 25th anniversary of Half Life, Valve's best-selling video game,

0:36.8

which was released two years after Gabe Newell and his business partner Michael Harrington

0:41.7

started the company in 1996.

0:44.0

An overnight hit, Half Life sold 2.5 million copies within 12 months,

0:50.0

putting Valve firmly on the map.

0:52.0

Even today, with multiple hit games like Portal and Dota 2,

0:57.0

a fast-growing hardware division,

0:59.0

and its digital sales platform Steam,

1:01.0

making Valve one of the most consequential gaming companies in the world,

1:05.0

Half Life is still core to the company's identity.

1:09.0

Harrington, who is now 60 years old, left Valve in 2000,

1:13.4

a couple years after Half Life was released.

1:15.8

But he returned on this autumn evening,

1:18.0

along with most of the original Half Life team

1:20.5

to sip cocktails, taste farm-to-table starters, and swap war stories.

1:25.0

However, there was one notable big no-show that night.

1:29.0

Valve's 61-year-old co-founder and president, Gabe Newell.

...

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