Steam founder Gabe Newell is investing his $9.5 billion fortune in his new passion, big ass boats, because he's "a hands-on visionary who respects the sea"

Custom yacht builder Oceanco has announced Valve co-founder and president Gabe Newell as a new shareholder – but assures "this is not about buying a yacht company."

In a new public announcement, privately owned custom yacht builder Oceanco, which is based in the Netherlands, is revealed as having entered "a new chapter with Gabe Newell – founder of Valve, tech pioneer, and longtime supporter." The company continues, explaining how it's "time for Oceanco's next ownership" as Omani billionaire Mohammed Al Barwani and family move on but "remain active in the yachting world."

The statement goes on to describe Newell's interest in Oceanco. "Gabe Newell is not entering this world as a financier or a strategist, but as a hands-on visionary who respects the sea, the craft, and above all, the people who make it possible," read the company's words. "He wants Oceanco to continue on what it already does best: placing people first." It doesn't sound all that far-fetched, as Newell is indeed a known yacht enthusiast and scuba diver.

"This is not about buying a yacht company," concludes Oceanco. "It's about plugging into a team and exploring what kind of future they can create when nothing holds them back." The company then outlines its values: "Human-first. Ocean-minded. Future-focused. Welcome to Oceanco's next journey." Although this news doesn't have much to do with Valve itself, it's interesting to see Newell's hobbies outside of gaming and technology blossom.

After all, the Steam mastermind has a mind-boggling $9.5 billion net worth he can use when investing in his new passions – yachts being a major one, apparently.

Valve billionaire Gabe Newell says businesses should "listen to your customers and focus on them," putting employees, partners, and customers before capital