Loss of Another Seattle-Area Billionaire? Valve’s Gabe Newell Is Reported Buyer of Florida Estate
The 20,000-square-foot estate includes a private dock, boat lift and tunnel to the ocean, according to The Wall Street Journal.
- Valve co-founder Gabe Newell purchased a $70.8 million waterfront estate in Manalapan, Florida, featuring a 20,000-square-foot residence with a private tunnel connecting directly to the ocean.
- Sellers Cindy and Ron McMackin paid roughly $39 million for the 2.06-acre property in 2020, then listed it for $85 million in December, with Palm Beach broker Margit Brandt representing the transaction.
- Newell is widely beloved among PC gamers for creating Half-Life and Portal, and oversees Valve, which generated over $16 billion through Steam last year with his net worth at $11 billion.
- Developer Kevin Wallace recently shared a chart tracking the state's billionaire "flight log," warning that Newell's potential domicile change could shift $15,000,000,000 in wealth to states without income or estate taxes.
- The purchase coincides with a heated debate over taxes in Washington, where wealthy residents face increased levies, and follows recent moves to Florida by Amazon founder Jeff Bezos and former Starbucks CEO Howard Schultz.
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Loss of another Seattle-area billionaire? Valve’s Gabe Newell is reported buyer of Florida estate
Is video-game industry leader Gabe Newell getting ready to vacate the Seattle area for sunny South Florida like some of his billionaire contemporaries? Reports of a luxury property purchase raise the question. According to The Wall Street Journal, Newell, CEO and co-founder of Valve Corp., is the buyer of a $70.8 million waterfront estate in Manalapan, Fla., north of Miami. The newspaper this week cited people familiar with the transaction. Sell…
While it's at Steam's, Gabe Newell's private appearance is quite different.
Gabe Newell, founder of Bellevue's Valve, buys $70.8M Florida mansion
Archyde Gabe Newell, the co-founder and president of the video game developer Valve, purchased a residential property in Belleair Shore, Florida, for $70.8 million. The transaction, recorded in public property records ... Read More The post Gabe Newell, founder of Bellevue’s Valve, buys $70.8M Florida mansion appeared first on Archyde.
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