The co-founder of property website Rightmove Ed Williams today announced his retirement from the business he launched only 12 years ago, having amassed a fortune of more than £50 million.
Williams, 50, has no plans to move into other spheres of business, having seen Rightmove grow from a £425 million company when it floated on the stock market in 2006 to one valued at £1.7 billion today.
Over the same period the share price has risen from 335p to 1617p.
“Having the opportunity to take Rightmove from little more than an idea 12 years ago to what it is today has been a privilege,” said Williams. “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.” He is handing over to his co-founder Nick McKittrick, who is currently chief operating officer and finance director.
Williams and his wife have sold shares worth £18.2 million over the past 14 months but he still owns shares and share options worth £34.3 million.
