Pay­mas­ters

Forbes - - Leaderboard Richest By State New Billionaires Scor -

john and Pa­trick col­li­son’s mo­bile-pay­ments uni­corn has vaulted them to the top tier of the young and the wealthy.

JOHN COL­LI­SON, 26, has a new ti­tle. He’s now the world’s youngest self-made bil­lion­aire, el­bow­ing aside months-older Snapchat co­founder Evan Spiegel. Col­li­son co­founded Stripe, a mo­bile-pay­ments startup, in 2011 with his brother, Pa­trick, 28. Af­ter a Novem­ber fund­ing round val­ued the firm at $9.2 bil­lion, each of their es­ti­mated 12% stakes in the com­pany is worth $1.1 bil­lion.

The Ir­ish broth­ers started Stripe af­ter drop­ping out of Har­vard (John) and MIT (Pa­trick). The San Fran­cisco–based uni­corn had $450 mil­lion in rev­enue last year, pro­cess­ing pay­ments for such clients as Face­book, Lyft and Saks Fifth Av­enue. The duo’s rock­et­like suc­cess has left them a lit­tle wary. “If any­one be­lieves that Stripe has al­ready made it,” Pa­trick said in a FORBES cover story last year, “that would be hugely prob­lem­atic for us.”

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