Rightmove founder to retire with £50m fortune
Friday 09 November 2012
The co-founder of the property website Rightmove, Ed Williams, has announced his retirement from the business he launched only 12 years ago, having amassed a fortune of more than £50m.
Mr Williams has no plans to move into other spheres of business, having seen Rightmove grow from a £425m company when it floated on the stock market in 2006 to one valued at £1.7bn now. Over the same period the share price has risen from 335p to 1,585p.
In an email to staff, Mr Williams said: "I've just turned 50. When our youngest child goes to college in a couple of years' time my wife and I want to travel, and in between now and then there are quite a lot of things that I have started doing more of over the last year or two and that I want the time to do much more of, including building my vegetable and fruit garden and working with the Ellen MacArthur Cancer Trust."
He is handing over to his co-founder, Nick McKittrick, who is currently chief operating officer and finance director.
Mr Williams and his wife have sold shares worth £18.2m over the last 14 months, but he still owns shares and share options worth £34.3m.
In its first year, Rightmove received 10 million page visits a month. Last month it had 713.6 million page visits.
"Having the opportunity to take Rightmove from little more than an idea 12 years ago to what it is today has been a privilege" Mr Williams said. "The central role Rightmove has come to play in helping people find their next home is a tribute to the efforts of many people over many years."
- 1 PlayStation and Xbox hacked by Lizard Squad
- 2 Katie Hopkins speaks out on childhood obesity: 'Parents of fat children should be prosecuted for child cruelty'
- 3 The Grace Dent Christmas Questionnaire
- 4 The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
- 5 Vagina canoe artist defends herself over ‘obscenity’ charges
PlayStation and Xbox hacked by Lizard Squad
Boxing Day snowfall set to push even more bargain-hunters online for sales
Katie Hopkins speaks out on childhood obesity: 'Parents of fat children should be prosecuted for child cruelty'
The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
Postcard from... The Vatican
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Rozanne Duncan: Ukip expels councillor for 'jaw-dropping' comments made in BBC TV interview
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
BBC director Danny Cohen: Rising UK antisemitism makes me feel more uncomfortable than ever
Alex Salmond has 'broken his word to the Scottish people' says Scottish Lib Dem leader
iJobs Money & Business
Not specified: Selby Jennings: Quantitative Research | Global Equity | New Yor...
Not specified: Selby Jennings: SVP Model Validation This top tiered investment...
Highly Competitive: Selby Jennings: Our client, a leading European Oil trading...
£43500 per annum + pension + holidays: The Jenrick Group: Night Shift Operatio...