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Valve co-founder and president Gabe Newell has just purchased a waterfront estate in Florida – a waterfront estate worth a whopping $70.8 million.
Big purchases aren't exactly new to the father of Steam – after all, we are talking about the same man who invested his $9.5 billion fortune into yachts last year. He's got a lot of money, anyway, and he's certainly not afraid to use it.
His latest buy, the stunning waterfront estate in Manalapan, Florida, is reportedly a 20,000-square-foot residence set on a 2.06-acre plot (thanks, Wall Street Journal). It boasts everything from an outdoor pool to a dock.
The home itself seems perfect for water enthusiast Newell, boat lift and all – but it does come at a bit of a turbulent time for Valve, admittedly. The company is currently facing a $900 million lawsuit in the United Kingdom after being accused of abusing its dominance in PC gaming to overcharge for games and DLC.
A separate class-action suit that mirrors the one underway in the UK complicates matters further… but Newell is confident Valve isn't guilty. In a recent statement, the Valve billionaire argued that PC gamers "have enormous choice" and can choose "where they purchase their products, whether they buy the game on an Xbox, whether they buy it on Steam, whether they buy it on Epic Games Store, or whether they buy it directly from software developers."
The monopoly-related lawsuits aren't the only legal shenanigans the company is up against, either, however.
There's also the New York lawsuit about Counter-Strike 2 cases, which alleges that Valve is encouraging gambling via the Steam marketplace, demanding "full restitution" for players as "Valve's loot boxes pose the same dangers as casino gambling, especially for children."
In other words, it's been quite a, erm, time for Newell's company – and it continues to be as all of the legal chaos rumbles on in the background.
Regardless, it appears that Newell is still living his best life – in a brand-new $70.8 million waterfront estate, too.
