⬅ # 399 John Collison|# 401 Luis Carlos Sarmiento

# 400 Patrick Collison 

$6.99B

Real Time Net Worth
as of 4/20/2024

# 400 Patrick Collison 

$6.99B

Real Time Net Worth
as of 4/20/2024
OccupationCofounder, Stripe
Source of WealthPayments software
Age35
ResidenceSan Francisco, California
Marital StatusMarried
EducationDrop Out, Massachusetts Institute of Technology
Age-Adjusted Net Worth$37.9B
Patrick Collison
Patrick Collison
Ireland
Net worth: $6.99B

Self-Made Score 

Wealth History

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Biography

Overview

Patrick Collison, an Irish entrepreneur, is the co-founder and CEO of Stripe, a multinational financial services and SaaS company.
Collison and his brother John conceived the idea for Stripe while attending MIT in Cambridge.
He is primarily responsible for engineering at Stripe and serves as the company's public face.

Early Life and Education

Patrick Collison was born and raised in Limerick, Ireland.
He showed early promise in academics and technology, demonstrating an aptitude for computer programming from a young age.
Collison attended the University of Limerick for a short period before receiving a prestigious scholarship to attend MIT in Cambridge, Massachusetts.
At MIT, Collison pursued studies in computer science and entrepreneurship, where he met his future business partner, his brother John.

Entrepreneurial Journey With Stripe

In 2009, Patrick Collison, along with his brother John, founded Stripe in Palo Alto, California.
Stripe started as a payment processing platform but quickly expanded its services to include billing, point-of-sale solutions, and corporate finance tools.
The company received early investments from prominent figures like Elon Musk, Peter Thiel, and Sequoia Capital.
Stripe's innovative approach to online payments, focusing on developer-friendly APIs and ease of integration, led to rapid growth and widespread adoption.
Over the years, Stripe continued to raise significant funding rounds, reaching a valuation of $95 billion in 2021.
Under Collison's leadership, Stripe expanded its services globally, entering new markets in Europe, Africa, and Asia.
Collison spearheaded strategic partnerships with companies like Ford, Spotify, and Twitter, expanding Stripe's reach and capabilities.
Despite facing challenges such as layoffs and valuation fluctuations, Stripe maintained its position as a leading player in the fintech industry.

Innovations and Expansion

Stripe introduced various products and services to enhance its offerings, including antifraud tools, billing solutions, and point-of-sale services.
In 2021, Stripe launched Stripe Tax, allowing businesses to automate sales tax calculations globally.
The company also ventured into corporate finance with products like Stripe Issuing, providing businesses with the ability to create custom payment cards.
Stripe demonstrated its commitment to sustainability with initiatives like Stripe Climate and the creation of Frontier, a subsidiary focused on carbon removal technologies.
Collison led Stripe's investments in startups and fintech companies worldwide, further solidifying its position as a key player in the industry.
Stripe's continuous innovation and expansion reflect Collison's vision of empowering businesses with cutting-edge financial tools and technologies.

Personal Life

In 2022, Collison married Silvana Konermann, a Swiss-American biochemist with whom he cofounded the Arc Institute
He's an avid reader with a diverse collection of books covering topics such as physics, feminism, and literary criticism.

How long would it take you to become as rich as Patrick Collison?

If you started with $10,000 and invested an additional $500 each month at a 43.95% CAGR, it would take you 5 years to reach Patrick Collison's net worth of $6.99B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 34.07% compared to 5.08% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Patrick Collison is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Patrick Collison, Payments software is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey