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.”