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 Isis 'jihadi bride' claims forced sex with Yazidi girls is never rape because Koran condones it
- 2 Woman accidentally shoots herself in the head while posing for a selfie
- 3 Art Garfunkel: Paul Simon is a 'monster' with a Napoleon complex
- 4 Isis burns woman alive for refusing to engage in 'extreme' sex act, UN says
- 5 Puerto Rico, island of lost dreams: People are leaving the debt-hit territory in droves as near neighbour Cuba's star rises
Isis 'jihadi bride' claims forced sex with Yazidi girls is never rape because Koran condones it
Woman accidentally shoots herself in the head while posing for a selfie
Isis burns woman alive for refusing to engage in 'extreme' sex act, UN says
Puerto Rico, island of lost dreams: People are leaving the debt-hit territory in droves as near neighbour Cuba's star rises
16-year-old girl beaten and burned alive by lynch mob in Rio Bravo, Guatemala
As a white man, I'm surprised more women aren't tweeting the hashtag #KillAllWhiteMen
Scotland may have to leave the EU even if it votes to stay in, David Cameron confirms
The day that Britain resigned as a global power
Almost a third of school pupils believe 'Muslims are taking over our country', study claims
SNP fury as HS2 finds 'no business case' for taking fast train service to Scotland
Gay marriage 'Bert and Ernie' cake bakery found guilty of discrimination in Northern Ireland
iJobs Money & Business
£40-50K: Guru Careers: We are seeking an experienced Software / C# Developer w...
£45,000 - £55,000: Neil Pavier: Are you looking for your next opportunity for ...
£45,000 - £55,000: Sheridan Maine: Are you a newly qualified ACA/ACCA/ACMA qua...
£50,000 - £60,000: Laura Norton: Are you looking for an opportunity within a w...