The latest real estate billionaire? Zillow’s Rich Barton

CEO and largest individual shareholder of listings giant sees net worth jump after stock surge

National /
Feb.February 24, 2020 08:30 AM
Zillow CEO Rich Barton (Credit: iStock)

Zillow CEO Rich Barton (Credit: iStock)

Zillow founder Rich Barton has become a billionaire.

The listings giant CEO hit the milestone after strong results from Zillow’s risky new instant home-buying strategy caused shares to increase by 17 percent on Thursday, according to Forbes. The share price closed at higher than $64 for the first time since June 2018, putting the value of Barton’s 15.8 million shares at just over $1 billion.

Barton owns the largest individual stake in Zillow, which he started with four colleagues from his prior company, Expedia.

He stepped down from his CEO position in 2010 and stayed on as executive chairman but returned to his CEO role last February to lead Zillow’s iBuying charge through its service Zillow Offers.

The company’s stock still struggled throughout 2019, but Zillow released the year’s full earnings report Wednesday and showed enough momentum to raise its stock price significantly. [Forbes] – Eddie Small


Related Articles

arrow_forward_ios
Zillow CEO Spencer Rascoff is stepping down as his co-founder takes over
Zillow CEO Spencer Rascoff is stepping down as his co-founder takes over
Zillow CEO Spencer Rascoff is stepping down as his co-founder takes over
Placeholder image
Zillow to pay $50M for StreetEasy
Zillow to pay $50M for StreetEasy
Mike DelPrete and TRD's Hiten Samtani
Watch: Where does Opendoor go from here? Breaking down iBuying with Mike DelPrete
Watch: Where does Opendoor go from here? Breaking down iBuying with Mike DelPrete
Opendoor's Eric Wu (Getty Images, iStock)
Opendoor CEO Eric Wu steps down
Opendoor CEO Eric Wu steps down
Illustration of Redfin CEO Glenn Kelman (Illustration by Kevin Rebong for The Real Deal)
Redfin reports $90M loss, plans to “take share, kick butt”
Redfin reports $90M loss, plans to “take share, kick butt”
From left: Redfin's Glenn Kelman, Opendoor's Eric Wu, FTX's Sam Bankman-Fried, and Douglas Elliman's Howard Lorber (Getty)
What the hell is happening in residential real estate?
What the hell is happening in residential real estate?
Redfin CEO Glenn Kelman (Photo Illustration by Steven Dilakian for The Real Deal with Getty)
Redfin shutters iBuying business, cuts 13% of staff
Redfin shutters iBuying business, cuts 13% of staff
Opendoor CEO Eric Wu (Illustration by The Real Deal with Getty)
Opendoor posts nearly $1B loss
Opendoor posts nearly $1B loss
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...