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."
Simon Calder looks at communities fighting back against the poachers
Arsenal 1 Everton 1: Substitute equalises with six minutes to go
booksGeese, gorillas, grandads... and growing up
Guide dog mauled while helping owner deliver Christmas cards
The poorest pay the price for austerity: Workers face biggest fall in living standards since Victorian era
Icon or terrorist: Nelson Mandela’s complex bond with Britain
Deadly ice storm sees US temperatures drop to -29C
Millions of families living in poverty despite being in employment says new study
- 1 Turning up the voice of America
- 2 The poorest pay the price for austerity: Workers face biggest fall in living standards since Victorian era
- 3 The man who made Femen: New film outs Victor Svyatski as the mastermind behind the protest group and its breast-baring stunts
- 4 Mass murder in the Middle East is funded by our friends the Saudis
- 5 Japan cracks down on leaks after scandal of Fukushima nuclear power plant
- < Previous
- Next >
iJobs Money & Business
£25000 - £50000 per annum + Benefits + Bonus: Harrington Starr: C++ Server Dev...
£300 - £350 per day: Harrington Starr: Leading Electronic Trading Software Ven...
£80000 - £100000 per annum + benefits + bonus: Harrington Starr: Project Manag...
£50000 - £60000 per annum + benefits + bonus: Harrington Starr: Business Analy...