Editing Patrick Collison

{{Short description|Irish entrepreneur (born 1988)}}
{{Use Hiberno-English|date=November 2018}}
{{Use dmy dates|date=November 2018}}
{{Infobox person
| name        = Patrick Collison
| image       = Patrick Collison (cropped).jpg
| image_size  = 220px
| alt         = 
| caption     = Collison in 2015
| birth_date  = {{Birth date and age |df=yes|1988|09|09}}
| birth_place = [[Dromineer]], [[County Tipperary]], Ireland
| education   = [[Gaelscoil Aonach Urmhumhan]]<br>[[Castletroy College]]<br>[[Massachusetts Institute of Technology]]
| known_for   = [[Stripe (company)|Stripe]], [[Fast Grants]], [[Arc Institute]]
| awards      = [[Young Scientist and Technology Exhibition]] (2004) <br/> [[Young Scientist and Technology Exhibition|BT Young Scientist of the Year]] (2005)
| website     = {{URL|patrickcollison.com}}
| relations   = [[John Collison]] (brother)
| spouse      = {{marriage|[[Silvana Konermann]]|April 2022}}
}}
'''Patrick Collison''' (born 9 September 1988) is an Irish entrepreneur. He is the co-founder and CEO of [[Stripe, Inc.|Stripe]], which he started with his younger brother, [[John Collison|John]], in 2010. He won the 41st [[Young Scientist and Technology Exhibition]] in 2005 at the age of sixteen. In 2020, he founded [[Fast Grants]] to accelerate [[COVID-19]]-related science with economist [[Tyler Cowen]]. In 2021, he co-founded [[Arc Institute]], a nonprofit research organization, with bioscientists [[Silvana Konermann]] and [[Patrick Hsu]].

==Early life==
Patrick Collison was born to microbiologist Lily and electronic engineer Denis Collison on 9 September 1988,<ref name=telegraph-20210223>{{cite news |url=https://www.telegraph.co.uk/technology/2021/02/23/two-brothers-rural-ireland-built-115bn-payments-giant/ |title=How two brothers from rural Ireland built a $115bn payments giant |last1=Cogley |first1=Michael |last2=Field |first2=Matthew |newspaper=The Daily Telegraph |url-access=subscription |date=23 February 2021 |access-date=25 February 2021 |archive-date=24 February 2021 |archive-url=https://web.archive.org/web/20210224120114/https://www.telegraph.co.uk/technology/2021/02/23/two-brothers-rural-ireland-built-115bn-payments-giant/ |url-status=live}}</ref><ref name=loizou2017>{{Cite web |last=Loizou |first=Kiki |date=26 February 2017 |title=Tech chiefs get too much credit, says Stripe's shy founder |url=https://www.thetimes.com/business-money/technology/article/tech-chiefs-get-too-much-credit-says-stripes-shy-founder-7v3jr57pj |work=[[The Sunday Times]] |archive-url=https://archive.today/20240615112940/https://www.thetimes.com/business-money/technology/article/tech-chiefs-get-too-much-credit-says-stripes-shy-founder-7v3jr57pj |archive-date=15 June 2024 |url-status=live}}</ref> and he and his brothers were brought up in the small village of [[Dromineer]] in [[County Tipperary]].<ref>{{cite web|url=https://www.wired.co.uk/article/stripe-payments-apple-amazon-facebook|title=The untold story of Stripe, the secretive $20bn startup driving Apple, Amazon and Facebook|author=<!--Not stated-->|date=5 October 2018|website=Wired|publisher=[[Wired (magazine)|Wired]]|access-date=7 October 2018|archive-date=28 May 2019|archive-url=https://web.archive.org/web/20190528124111/https://www.wired.co.uk/article/stripe-payments-apple-amazon-facebook|url-status=live}}</ref> The eldest of three boys, he took his first computer course when he was eight years old, at the [[University of Limerick]], and began learning computer programming at the age of ten.<ref name="Million dollar boy who changed the face of the web">{{cite news|author=John Costello|url=http://www.herald.ie/lifestyle/money/million-dollar-boy-who-changed-the-face-of-the-web-1594088.html|title=Million dollar boy who changed the face of the web|date=7 January 2009|newspaper=[[Evening Herald]]|access-date=24 January 2010|archive-date=29 September 2010|archive-url=https://web.archive.org/web/20100929062943/http://www.herald.ie/lifestyle/money/million-dollar-boy-who-changed-the-face-of-the-web-1594088.html|url-status=live}}</ref>

Collison was educated in Gaelscoil Aonach Urmhumhan, [[Nenagh]], before attending [[Castletroy College]] in [[Castletroy]], County Limerick.<ref name="Maths project wins Young Scientist"/>

==Career==
===Young Scientist===
Collison entered the 40th [[Young Scientist and Technology Exhibition]] with his project on [[artificial intelligence]] (nicknamed 'Isaac' after [[Isaac Newton]], whom Patrick admired), finishing as individual runner-up.<ref name="Maths project wins Young Scientist">{{cite news|url=http://www.rte.ie/news/2004/0109/scientist.html|title=Maths project wins Young Scientist|date=9 January 2004|publisher=[[RTÉ]]|access-date=24 January 2010|archive-date=22 February 2011|archive-url=https://web.archive.org/web/20110222155257/http://www.rte.ie/news/2004/0109/scientist.html|url-status=live}}</ref> He re-entered the following year, and won first place at the age of sixteen on 14 January 2005.<ref name="Saturday Night with Miriam"/><ref name="Young Scientist of the Year is chosen in Dublin"/> His project involved the creation of Croma, a [[Lisp programming language|LISP]]-type programming language.<ref name="Young Scientist of the Year is chosen in Dublin">{{cite news|author=Emma O'Kelly |url=http://www.rte.ie/news/2005/0114/9news.html |title=Young Scientist of the Year is chosen in Dublin |date=14 January 2005 |publisher=[[RTÉ News: Nine O'Clock]] |access-date=24 January 2010}}{{dead link|date=June 2017 |bot=InternetArchiveBot |fix-attempted=yes}}</ref><ref>{{Cite news|url=https://www.irishtimes.com/business/technology/young-scientists-where-creativity-and-charm-collide-1.3357542|title=Young Scientists: where creativity and charm collide|last=O'Brien|first=Ciara|date=2018-01-18|work=The Irish Times|access-date=2018-03-26|language=en-US|archive-date=26 March 2018|archive-url=https://web.archive.org/web/20180326203230/https://www.irishtimes.com/business/technology/young-scientists-where-creativity-and-charm-collide-1.3357542|url-status=live}}</ref>

His prize of a €7,500 cheque and a trophy of [[Waterford Crystal]] was presented to him by [[President of Ireland|President]] [[Mary McAleese]].<ref name="Million dollar boy who changed the face of the web"/> His younger brother Tommy participated with his project on [[blogging]] in the Young Scientist and Technology Exhibition in 2010.<ref name="Colin shows he's fit for success">{{cite news|author=Tommy Collison|url=http://trusttommy.com/2010/01/18/young-scientist-report/|title=Young Scientist Report on Blogging|access-date=8 February 2010|archive-date=25 January 2010|archive-url=https://web.archive.org/web/20100125215500/http://trusttommy.com/2010/01/18/young-scientist-report/|url-status=live}}</ref>

===Auctomatic===
He attended [[Massachusetts Institute of Technology]], but eventually dropped out in 2009 after starting businesses.<ref name="Million dollar boy who changed the face of the web"/><ref name=telegraph-20210223/> In 2007, he set up software company 'Shuppa' (a play on the Irish word {{wikt-lang|ga|siopa}}, meaning 'shop') in [[Limerick]] with his brother [[John Collison]].<ref name="Limerick brothers sell company for millions"/> [[Enterprise Ireland]] did not allocate funding to the company, prompting a move to California after [[Silicon Valley]]'s [[Y Combinator (company)|Y Combinator]] showed interest, where they merged with two [[University of Oxford|Oxford]] graduates, Harjeet and Kulveer Taggar, and the company became Auctomatic.<ref name="Limerick brothers sell company for millions"/>

On [[Good Friday]] of March 2008, Collison, aged nineteen, and his brother, aged seventeen, sold Auctomatic to Canadian company Live Current Media, becoming millionaires.<ref name="Limerick brothers sell company for millions">{{cite news|url=http://www.rte.ie/news/2008/0327/collison.html?rss|title=Limerick brothers sell company for millions|date=27 March 2008|publisher=[[RTÉ]]|access-date=24 January 2010|archive-date=24 February 2011|archive-url=https://web.archive.org/web/20110224111357/http://www.rte.ie/news/2008/0327/collison.html?rss|url-status=live}}</ref><ref name="Teenagers become web millionaires">{{cite news|url=http://news.bbc.co.uk/2/hi/business/7316143.stm|title=Teenagers become web millionaires|date=27 March 2008|publisher=BBC|access-date=24 January 2010|archive-date=17 October 2010|archive-url=https://web.archive.org/web/20101017131625/http://news.bbc.co.uk/2/hi/business/7316143.stm|url-status=live}}</ref> In May 2008, he became director of engineering at the company's new [[Vancouver]] base.<ref name="Million dollar boy who changed the face of the web"/><ref name="Limerick brothers sell company for millions"/> Collison attributes the success of his company to his win in the Young Scientist and Technology Exhibition.<ref name="Million dollar boy who changed the face of the web"/>

===Stripe===
In 2010, Collison co-founded [[Stripe, Inc.|Stripe]], which in 2011 received investment of $2 million including from PayPal co-founders [[Elon Musk]] and [[Peter Thiel]], and venture capital firms [[Sequoia Capital]], [[Andreessen Horowitz]], and [[SV Angel]].<ref>{{cite web |title=Stealth Payment Startup Stripe Backed By PayPal Founders |url=https://techcrunch.com/2011/03/28/stealth-payment-startup-stripe-paypal |url-status=live |archive-url=https://web.archive.org/web/20170212091815/https://techcrunch.com/2011/03/28/stealth-payment-startup-stripe-paypal/ |archive-date=12 February 2017 |access-date=8 February 2017}}</ref><ref name="telegraph-20210223" />

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|General Catalyst Partners]] valued the company at $9.2 billion.<ref>{{Cite news |last=Mac |first=Ryan |title=Stripe Investment Makes Cofounder The World's Youngest Self-Made Billionaire |newspaper=Forbes |url=https://www.forbes.com/sites/ryanmac/2016/11/28/stripe-investment-makes-cofounder-the-worlds-youngest-self-made-billionaire/#4e3a548d41b4 |url-status=live |access-date=2 August 2017 |archive-url=https://web.archive.org/web/20190413012150/https://www.forbes.com/sites/ryanmac/2016/11/28/stripe-investment-makes-cofounder-the-worlds-youngest-self-made-billionaire/#4e3a548d41b4 |archive-date=13 April 2019}}</ref> By 2017, the brothers were notionally worth at least $3.2 billion each.<ref>{{Cite news |date=2017-08-01 |title=How Two 20-Somethings From Ireland Built a $9.2 Billion Company |work=Bloomberg.com |url=https://www.bloomberg.com/news/features/2017-08-01/how-two-brothers-turned-seven-lines-of-code-into-a-9-2-billion-startup |url-status=live |access-date=2017-10-11 |archive-url=https://web.archive.org/web/20190529035451/https://www.bloomberg.com/news/features/2017-08-01/how-two-brothers-turned-seven-lines-of-code-into-a-9-2-billion-startup |archive-date=29 May 2019}}</ref>

In 2018, Stripe, under the direction of the Collison brothers, contributed $1 million to [[YIMBY#United States|California YIMBY]], a pro-housing development lobbying organisation.<ref>{{cite web |last=Torres |first=Blanca |date=2018-05-03 |title=Are tech CEOs finally tackling the Bay Area housing crisis? Stripe jumps into the fight |url=https://www.bizjournals.com/sanfrancisco/news/2018/05/03/tech-ceos-housing-crisis-stripe-salesforce-yelp.html |url-status=live |archive-url=https://web.archive.org/web/20201027152429/https://www.bizjournals.com/sanfrancisco/news/2018/05/03/tech-ceos-housing-crisis-stripe-salesforce-yelp.html |archive-date=27 October 2020 |website=San Francisco Business Times}}</ref>

In September 2019, it was announced that Stripe had raised an additional $250 million at a valuation of $35 billion.<ref>{{cite web |last1=Metcalf |first1=Tom |last2=Verhage |first2=Julie |title=Stripe Brothers Become Richest Self-Made Irish Billionaires |url=https://www.bloomberg.com/news/articles/2019-09-20/stripe-brothers-become-ireland-s-richest-self-made-billionaires |url-status=live |archive-url=https://web.archive.org/web/20190920180144/https://www.bloomberg.com/news/articles/2019-09-20/stripe-brothers-become-ireland-s-richest-self-made-billionaires |archive-date=20 September 2019 |access-date=21 September 2019 |website=Bloomberg}}</ref> Together, the brothers hold a [[controlling interest]] in Stripe.<ref>{{cite web |last=Rudegeair |first=Peter |date=26 September 2018 |title=Payments Fintech Stripe Valued at $20 Billion in Latest Funding Round |url=https://www.wsj.com/articles/payments-fintech-stripe-valued-at-20-billion-in-latest-funding-round-1537994284 |url-status=live |archive-url=https://web.archive.org/web/20200203210757/https://www.wsj.com/articles/payments-fintech-stripe-valued-at-20-billion-in-latest-funding-round-1537994284 |archive-date=3 February 2020 |access-date=3 February 2020 |via=www.wsj.com}}</ref>

===Other===
Both Collison and his younger brother John were featured on a young Irish persons rich list aired on an RTÉ television show during the 2008 Christmas period.<ref name="Three to Watch">{{cite news|url=http://www.insideview.ie/irisheyes/2009/01/two-to-watch.html|title=Three to Watch|date=5 January 2009|publisher=Inside View from Ireland|access-date=24 January 2010|archive-date=30 January 2010|archive-url=https://web.archive.org/web/20100130200513/http://www.insideview.ie/irisheyes/2009/01/two-to-watch.html|url-status=live}}</ref>

On 18 July 2009, at the age of 20 and following the publication of the [[McCarthy Report]], Collison outlined his ideas for the future of Ireland on popular talk-show ''[[Saturday Night with Miriam]]''.<ref name="Saturday Night with Miriam">{{cite news|url=http://www.rte.ie/tv/miriam/20090718.html |title=Saturday Night with Miriam|date=18 July 2009|publisher=[[Saturday Night with Miriam]]|access-date=24 January 2010|url-status=dead|archive-url=https://web.archive.org/web/20090801122940/http://www.rte.ie/tv/miriam/20090718.html|archive-date=1 August 2009}}</ref>

{{anchor|Progress studies}}
According to Collison, he reads books and is interested in a broad range of subjects on history, technology, engineering, fiction, philosophy, and art. He publishes the list of books he read on [https://patrickcollison.com/bookshelf his website]. In November 2018, Collison published a piece in ''[[The Atlantic]]'' with [[Michael Nielsen]] entitled [https://www.theatlantic.com/science/archive/2018/11/diminishing-returns-science/575665/ Science is Getting Less Bang for its Buck], arguing that increased investment in science has not produced commensurate output. In 2019, Collison published an opinion piece in the same outlet with [[Tyler Cowen]] arguing for a new academic discipline called "Progress Studies", which would study the cultural and institutional conditions which lead to the most progress and higher standards of living.<ref>{{cite news |last1=Collison |first1=Patrick |last2=Cowen |first2=Tyler |title=We Need a New Science of Progress |url=https://www.theatlantic.com/science/archive/2019/07/we-need-new-science-progress/594946/ |access-date=1 December 2019 |work=The Atlantic |date=30 July 2019 |archive-date=30 November 2019 |archive-url=https://web.archive.org/web/20191130141428/https://www.theatlantic.com/science/archive/2019/07/we-need-new-science-progress/594946/ |url-status=live}}</ref>

Collison joined the board of [[Meta Platforms]] in April 2025.<ref>{{Cite news |last=Griffin |first=Riley |date=2025-04-12 |title=Meta adds Stripe CEO Patrick Collison to board of directors |url=https://www.independent.ie/irish-news/meta-adds-stripe-ceo-patrick-collison-to-board-of-directors/a1025719872.html |access-date=2025-05-22 |work=Irish Independent |language=en}}</ref>

==''Forbes'' article==
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".<ref name=tj-forbes-article-limerick-stripe-brother-john-patrick-collison>{{Cite news|title=Forbes article about Stripe brothers which called Limerick 'stab city' removed after online backlash|url=https://www.thejournal.ie/forbes-article-limerick-stripe-brother-john-patrick-collison-5405891-Apr2021/|last=McDermott|first=Stephen|date=10 April 2021|access-date=10 April 2021|work=[[TheJournal.ie]]|archive-date=10 April 2021|archive-url=https://web.archive.org/web/20210410082636/https://www.thejournal.ie/forbes-article-limerick-stripe-brother-john-patrick-collison-5405891-Apr2021/|url-status=live}}</ref> It claimed "shootings, pipe bomb attacks, and stabbings" happened there every night.<ref name=tj-forbes-article-limerick-stripe-brother-john-patrick-collison/> It also claimed that "Some bad neighbourhoods are even walled off by a dirty graffitied 10-foot-high barrier, like the Berlin Wall".<ref name=tj-forbes-article-limerick-stripe-brother-john-patrick-collison/>

The article received a lot of publicity online, causing a backlash.<ref name=tj-forbes-article-limerick-stripe-brother-john-patrick-collison/> Collison 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".<ref name=tj-forbes-article-limerick-stripe-brother-john-patrick-collison/> John tweeted it was "daft".<ref name=tj-forbes-article-limerick-stripe-brother-john-patrick-collison/> [[Patrick O'Donovan]] called on the magazine and author to apologise to the people of Limerick "for the insult and hurt caused" by it.<ref name=tj-forbes-article-limerick-stripe-brother-john-patrick-collison/> 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."<ref name=tj-forbes-article-limerick-stripe-brother-john-patrick-collison/> [[Niall Collins]] tweeted that the article was a "disgraceful description of Limerick, home to so many fine and decent people".<ref name=tj-forbes-article-limerick-stripe-brother-john-patrick-collison/>

The article was removed from the website on 9 April 2021.<ref name=tj-forbes-article-limerick-stripe-brother-john-patrick-collison/>

==Personal life==
In April 2022, Collison married Swiss-American biochemist and [[Stanford University]] professor [[Silvana Konermann]], with whom he co-founded the [[Arc Institute]]. Collison met Konermann during the 2004 [[European Union Contest for Young Scientists|EU Young Scientist competition]].<ref>{{cite news |last=Tighe |first=Mark |title=Billionaire Patrick Collison marries woman who beat him to top science prize when they were both teenagers |url=https://www.independent.ie/style/weddings/billionaire-patrick-collison-marries-woman-who-beat-him-to-top-science-prize-when-they-were-both-teenagers-41790796.html |work=[[Irish Independent]] |date=26 June 2022 |access-date=29 January 2023 |archive-date=29 January 2023 |archive-url=https://web.archive.org/web/20230129155004/https://www.independent.ie/style/weddings/billionaire-patrick-collison-marries-woman-who-beat-him-to-top-science-prize-when-they-were-both-teenagers-41790796.html |url-status=live}}</ref><ref>{{cite news |last=Butler |first=Roisin |title=Inside Stripe CEO Patrick Collison's family life as he weds childhood sweetheart |url=https://www.irishmirror.ie/news/irish-news/inside-stripe-ceo-patrick-collisons-27359496 |access-date=20 November 2022 |publisher=Irish Mirror |date=29 June 2022 |archive-date=20 November 2022 |archive-url=https://web.archive.org/web/20221120140036/https://www.irishmirror.ie/news/irish-news/inside-stripe-ceo-patrick-collisons-27359496 |url-status=live}}</ref>

Collison lives in [[San Francisco]], California.<ref>{{Cite web |last=Weinberg |first=Cory |date=21 June 2023 |title=John Collison's Land Grab: A Stripe Co-Founder Grows in Power |url=https://www.theinformation.com/articles/john-collisons-land-grab-stripes-second-in-command-stakes-his-claim |website=[[The Information (website)|The Information]] |url-access=subscription}}</ref><ref>{{Cite web |url=https://www.bloomberg.com/billionaires/profiles/patrick-collison/ |title=Bloomberg Billionaires Index: Patrick Collison |access-date=9 September 2024 |publisher=Bloomberg}}</ref>

==References==
{{Reflist}}

==External links==
*{{official website|http://patrickcollison.com/}}

{{Meta Platforms}}
{{Young Scientist and Technology Exhibition}}

{{DEFAULTSORT:Collison, Patrick}}
[[Category:1988 births]]
[[Category:Living people]]
[[Category:Irish billionaires]]
[[Category:Irish computer programmers]]
[[Category:21st-century Irish scientists]]
[[Category:People educated at Castletroy College]]
[[Category:Businesspeople from County Limerick]]
[[Category:Y Combinator people]]
[[Category:Young Scientist and Technology Exhibition]]
[[Category:21st-century Irish businesspeople]]
[[Category:YIMBY activists]]