The Brothers Stripe, Ireland's Richest Self-Made Billionaires

By Charles Kelly Author of Yes, Money Can Buy You Happiness and creator of Money Tips Podcast Yesterday we talked about Airbnb rise from zero to $31 billion. Today I want to talk about a similar sized company in terms of valuation which could be floated on the stock market. If you’ve ever sold goods or services online, you may have come across a payment system called Stripe. I had never heard it of it until I started using click funnels but it seems to work very well. The people behind Stripe are John and Patrick Collison who sold their first company for $5 million when they were still teenagers. Now, a little more than a decade later, their second start-up is valued at $35 billion, making them Ireland’s richest entrepreneurs, Bloomberg reports. The latest valuation for their online payment processor, Stripe Inc., gives John, 29, and Patrick, 31, an estimated net worth of $4.2 billion each, according to calculations by the Bloomberg Billionaires Index, enough for inclusion in the 500-member ranking. Stripe declined to comment. Did they build this company up organically using their own money or remortgaging their houses? No, they used other people’s money, such as investors and capitalists. This week, Stripe announced that it had raised $250 million in its latest funding round, giving the San Francisco-based company a valuation of $35 billion. The only U.S. start-ups that had higher valuations this year are vaping giant Juul Labs Inc. and We Co., the parent of office-sharing real estate firm WeWork. However, the valuations for both of those companies are now in doubt. A growing number of vaping illnesses and deaths has prompted some governments to ban Juul’s products, and Wall Street estimates for We’s valuation have tumbled following scrutiny of co-founder Adam Neumann’s unorthodox financial dealings with the firm. The Irish brothers’ fortunes exceed those of fellow countrymen...full article visit http://www.moneytipsdaily.com/the-brothers-stripe-richest-self-made-irish-billionaires/ Word of the Day Floatation Flotation is the process of converting a private company into a public company by issuing shares available for the public. It allows companies to obtain financing externally instead of using retained earnings to fund new projects or expansion. Source: Investopedia There are more examples and practical steps to getting rich and being happy in my book, Yes, money can buy happiness, I cover the 3 R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it out on Amazon http://bit.ly/2MoneyBook. If you would like more information about the Cyprus ‘Golden Visa’ investment programme, email [email protected] See more at www.moneytipsdaily.com: Airbnb plan $31 billion IPO House Price Growth Slowest Since 2012, Say ONS