John Collison

John Collison (born 6 August 1990) is an Irish billionaire entrepreneur and the co-founder and President of Stripe which he co-founded in 2010 with his brother Patrick. Collison was the youngest self made billionaire in 2016. As of 2022, according to Bloomberg Billionaires Index, his net worth was estimated at US$11.4 billion, ranking him the 187th richest person in the world and one of the wealthiest people from Ireland.[1]

John Collison
Collison sitting on-stage at Web Summit
Collison at Web Summit (2014)
Born (1990-08-06) 6 August 1990 (age 32)
EducationCastletroy College
Alma materHarvard University
Known forCroma; Stripe
RelativesPatrick Collison (brother)

BiographyEdit

In 2007, Collison founded "Shuppa"[a] with his older brother Patrick in Limerick, Ireland.[2] The company later merged with Auctomatic, which was funded by Y Combinator,[3] and Collison moved to Silicon Valley.[4]

Auctomatic was a software company that built tools for the eBay platform.[5] The company was also funded by Chris Sacca.[6] Auctomatic was acquired for $5 million in March 2008, when Collison was 17.[7][8][9][10]

In 2009, Collison (having returned to finish secondary school at Castletroy College) received 8 A1 and 2 A2 grades in the Irish Leaving Certificate examination. He continued to study at Harvard University, commencing his studies in September 2009.[11] Collison is a pilot[12] and a pianist.[13]

In 2010, Collison co-founded Stripe, which received backing from Elon Musk, Peter Thiel, Max Levchin, and Sequoia Capital.[14]

In November 2016, the Collison brothers became the world's youngest self-made billionaires, worth at least $1.1 billion, after an investment in Stripe from CapitalG and General Catalyst valued the company at $9.2 billion.[15] In the same year, 2016, John was ranked by Forbes the 15th in the list America's Richest Entrepreneurs Under 40.[16]

In 2018, Stripe, under the direction of the Collison brothers, contributed $1 million to California YIMBY, a pro-housing development lobbying organization. The Collison brothers are citizens of Ireland.[17]

In 2021 and 2022, Collison bought the Abbeyleix Estate and the derelict Millbrook House, neighbouring properties in County Laois, Ireland. He has stated he will spend several millions of euros over some years restoring Millbrook House to make a family home.[18][19]

Forbes articleEdit

A profile of the brothers published in Forbes in 2021 claimed the brothers had "escaped" from Limerick, describing it as a "warzone" because of a gang feud and it was "the 'murder capital' of Europe".[20] It claimed "shootings, pipe bomb attacks, and stabbings" happened there every night.[20] It also claimed that "Some bad neighbourhoods are even walled off by a dirty graffitied 10-foot-high barrier, like the Berlin Wall".[20]

The article received a lot of publicity online, causing a backlash.[20] Patrick tweeted "Not only mistaken about Limerick but the idea of ‘overcoming’ anything is crazy. We are who we are because we grew up where we did".[20] John tweeted it was "daft".[20] Patrick O'Donovan called on the magazine and author to apologise to the people of Limerick "or the insult and hurt caused" by it.[20] He also tweeted "I am calling on them to come to Limerick where I will gladly set the record straight in respect of what our county and city has to offer as opposed to what your work of fiction depicts," and "Please let me know when suits to visit."[20] Niall Collins tweeted that the article was a "disgraceful description of Limerick, home to so many fine and decent people".[20]

The article was removed from the website on 9 April 2021.[20]

FootnotesEdit

  1. ^ "Shuppa" is a phonetic representation of the Irish language word, siopa, meaning shop.

ReferencesEdit

  1. ^ "Bloomberg Billionaires Index: John Collison". Bloomberg.com. Retrieved 10 June 2021.
  2. ^ "Shuppa Bebo profile". Archived from the original on 11 February 2017. Retrieved 26 November 2012.
  3. ^ "Frequently Asked Questions". www.ycombinator.com.
  4. ^ Taylor, Charlie (18 December 2020). "John Collison: 'It is entirely plausible that you could set up Stripe in Dublin now'". The Irish Times.
  5. ^ "Auctomatic launches better tools for eBay powersellers". 22 October 2007.
  6. ^ "Thank You, Auctomatic". Chris Sacca's 'What is left?'.
  7. ^ McDonald, Henry (28 March 2008). "The Guardian". London, UK.
  8. ^ "Getting right down to business in TY". The Irish Times. 4 April 2008.
  9. ^ "BBC News". 27 March 2008.
  10. ^ McBride, Louise (28 December 2008). "The Irish Independent".
  11. ^ "Harvard next on menu for knowledge-hungry dot.com high flyer". The Irish Times. 9 September 2009.[dead link]
  12. ^ "40 under 40: John and Patrick Collison". Silicon Valley Business Journal. 28 November 2011.
  13. ^ "The Irish Times". 9 September 2009.[dead link]
  14. ^ Arrington, Michael (28 March 2011). "Stealth Payment Startup Stripe Backed By PayPal Founders".
  15. ^ Mac, Ryan. "Stripe Investment Makes Cofounder The World's Youngest Self-Made Billionaire". Forbes. Retrieved 28 November 2016.
  16. ^ Kroll, Luisa (12 December 2016). "America's Richest Entrepreneurs Under 40 2016". Forbes.
  17. ^ "Tech CEO housing crisis". San Francisco Business Times. 3 May 2018. Retrieved 3 February 2020.
  18. ^ Hartnett, Alan (2 February 2022). "Billionaire brothers purchase Laois mansion and set to spend €2 million doing it up". Laois Today. Retrieved 8 October 2022.
  19. ^ Foxe, Ken (2 October 2022). "Laois ruin on Collison course for a renovation costing €6m". The Times. Retrieved 8 October 2022.
  20. ^ a b c d e f g h i j McDermott, Stephen (10 April 2021). "Forbes article about Stripe brothers which called Limerick 'stab city' removed after online backlash". TheJournal.ie. Retrieved 10 April 2021.

External linksEdit