Gabe Newell buys $70.8 million Florida waterfront estate

Valve co-founder and president Gabe Newell has purchased a waterfront estate in Manalapan, Florida, for $70.8 million. The reported 20,000-square-foot residence sits on a 2.06-acre plot and includes an outdoor pool, a dock and a boat lift. Big purchases aren't new to the father of Steam — the same man invested his $9.5 billion fortune into yachts last year.

He has considerable wealth and has shown no reluctance to spend it on waterfront properties and vessels. The buy comes while Valve faces legal challenges, including a $900 million lawsuit in the United Kingdom alleging the company abused its dominance in PC gaming to overcharge for games and DLC, and a separate class-action suit that mirrors the UK case.

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