Patrick Collison is a $5 billion-dollar-worth Irish-American businessman and entrepreneur. Patrick Collison is well recognized for co-founding and leading Stripe with his brother John Collison. Shuppa was created in Limerick, Ireland, by the Collison brothers, and it later amalgamated with Automatic. When Patrick was 19 and John was 17, the brothers went to Silicon Valley, and Auctomatic was sold to Live Current Media for $5 million in March 2008.
Who is Patrick Collison?
Patrick Collison was born in Dromineer, County Tipperary, Ireland, on September 9, 1988. He is the son of Denis Collison, an electrical engineer, and Lily Collison, a microbiologist, and he has two younger brothers, John and Tommy. Patrick began learning computer programming at the age of 10 after taking a computer course at the University of Limerick when he was 8 years old. Collison went to Gaelscoil Aonach Urmhumhan in Nenagh before enrolling at Castletroy College. He went on to attend the Massachusetts Institute of Technology before dropping out in 2009.
Stripe, an internet payment startup, was started in 2010 by John and Patrick. The corporation was valued at $5 billion in October 2015 and was used all over the world. As children, the two brothers studied coding, and Patrick, then 16, won the 41st Young Scientist and Technology Exhibition in 2005. Collison and Tyler Cowen co-founded Fast Grants in 2020, with the goal of providing financing to scientists working on COVID-19-related topics.
How old is Patrick Collison?
He is currently 35 years old.
What is Patrick Collison’s net worth?
The Irish American businessman is estimated to be worth $5 Billion.
What is Patrick Collison’s career?
Patrick entered the 2004 Young Scientist and Technology Exhibition, and his artificial intelligence project (dubbed “Isaac” after Isaac Newton) earned him the individual runner-up slot. He returned in 2005 and won with a project including the development of the computer language Croma.
Collison received a €3,000 check and a Waterford Crystal trophy, which was presented to him by Irish President Mary McAleese. Patrick and his brother John founded the software company Shuppa in Limerick in 2007, but Enterprise Ireland refused to fund the venture.
After Y Combinator in Silicon Valley exhibited an interest in Shuppa, the brothers relocated to California and formed Auctomatic with Oxford graduates Kulveer and Harjeet Taggar.
Patrick and John became billionaires before the age of 20 when they sold Auctomatic to a Canadian firm named Live Current Media in March 2008. Patrick joined Live Current Media as director of engineering in May 2008, based in Vancouver.
Patrick and John co-founded Stripe in 2010, and the company secured a $2 million investment the following year from PayPal co-founders Peter Thiel and Elon Musk, as well as venture capital firms Andreessen Horowitz, Sequoia Capital, and SV Angel. “Forbes” claimed in November 2016 that “brothers Patrick Collison and John Collison are now worth at least $1.1 billion each after San Francisco-based Stripe raised $150 million from CapitalG, an investment division of Alphabet parent company Google, and General Catalyst Partners.”
The recent investment nearly doubled the startup’s valuation.” The Collison brothers became the world’s youngest self-made billionaires as a result of this venture. Patrick and John were individually worth at least $3.2 billion in 2017 when Stripe received an additional $150 million from CapitalG.
Stripe gave $1 million to California YIMBY in 2018, with the goal of “making California an affordable place to live, work, and raise a family.” “Bloomberg” stated in September 2019 that the Collisons had become the “richest self-made Irish billionaires” when Stripe secured another $250 million at a $35 billion value. Patrick and John own a majority stake in the company and will be able to keep control if Stripe goes public.
In 2018, Collison and Michael Nielsen authored an essay for “The Atlantic” titled “Science is Getting Less Bang for its Buck,” and in 2019, Patrick and Tyler Cowen released an opinion piece titled “We Need a New Science of Progress.” Collison criticized the Chinese government’s treatment of Uighurs on Twitter in June 2020, writing, “As a US business (and tech) community, I think we should be significantly clearer about our horror at, and opposition to, the atrocities being committed by the Chinese government against its own people.”
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