Irish billionaire businessman Patrick Collison co-founded Stripe and is currently its CEO. Stripe enables individuals and businesses to accept payments online. He is known for his contribution to the world of tech and business. Hence, his impressive track record of achievements and ongoing impact firmly establish his significant presence for entrepreneurship and technological advancement.
Early Life
Patrick Collison was born on 9 September 1988 to Lily, a microbiologist, and Denis Collison, an electronic engineer. Furthermore, Patrick spent his childhood life in Dromineer, County Tipperary, Ireland, after his birth with his brother John Collison. At the University of Limerick, he started studying computer programming at the early age of eight.
Education
Patrick Collison attended his primary school in Dromineer, County Tipperary, Ireland. Furthermore, Collison continued his education at Limerick’s Castletroy College. Collison gained admission to the Massachusetts Institute of Technology (MIT), where he pursued a major in computer science. However, after venturing into the business world, he eventually decided to drop out in 2009.
Patrick Collison Career
In 2007, Collison set up the software company ‘Shuppa’ in Limerick along with his brother John Collison. However, Enterprise Ireland did not provide funding to Shuppa, so it moved to California after silver valley’s Y Combinator showed interest. There they co-founded the company Auctomatic along with two Oxford graduates, Harjeet and Kalveer Taggar.
In March 2008, they sold Auctomatic to the Canadian company Live Current Media, which made them the youngest millionaires. Moreover, By May of that same year, he took on the role of director of engineering at the company’s new Vancouver location, and his company won at the Young Scientist and Technology Exhibition.
Co-founding Stripe in 2010 is the most notable accomplishment of Patrick Collison. Hence, teaming up with his brother John Collison, they pioneered a groundbreaking platform for online payment processing.
Stripe, a technology company, offers online payment solutions to businesses, aiming to streamline payment handling across all scales. Their goal is to simplify the intricacies of online transactions, assisting businesses in effectively managing their online financial interactions. Moreover, it processes billions of dollars in transactions per year in 25 countries.
Furthermore, they obtained a $2 million investment in 2011, which included funding from PayPal’s co-founders. As of November 2016, the Collision brothers held a combined net worth of $1.1 billion, making them the youngest self-made millionaires in history. Furthermore, the company’s valuation soared to $9.2 billion following investments from CapitalG and General Catalyst Partners. At a $35 billion value, the business raised an additional $250 million in September 2019.
Patric Collison Relationship
Collison engaged to Swiss-American biologist Silvana Konermann in 2019 and married in April 2022. She teaches biochemistry as an assistant professor at Stanford University. Moreover, Collison and Konermann co-founded the Arc Institute, where she is the director. The couple first met when competing in the 2005 EU Young Scientist competition in Moscow at a very early age. Silvana took first place, placing her husband in second. The most creative couple ever, they are.
Patrick Collison Net Worth
As per Forbes, Collison’s estimated value stands at $5.5 billion. His primary income source is Stripe, a venture he co-founded alongside his brother John Collison. However, Their net worth experienced a significant decrease of over $4 billion within the past year, dropping from $9.5 billion to $5.5 billion. Despite this decline, Patrick and John retained their rankings at 22nd and 17th youngest billionaires, As per Forbes. Notably, they are the third-richest billionaires in Ireland.
| Name | Patick Collison |
| Date of Birth | September 9, 1988 |
| Birthplace | Dromineer, Ireland |
| Current Place | San Francisco, California, U.S. |
| Net worth | $5.5 billion (as of 2023 by Forbes) |
| Wife | Silvana Konermann |
