The latest real estate billionaire? Zillow’s Rich Barton

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

TRD 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

Placeholder image

Zillow to pay $50M for StreetEasy

Spencer Rascoff (Credit: John Lamparski/Getty Images)

Zillow co-founder Spencer Rascoff leaves board

Durable Capital's Henry Ellenbogen and Redfin CEO Glenn Kelman (Credit: Ellenbogen by Paul Morigi/Getty Images for The Phillips Collection; Redfin)

Redfin sells $110M stake to VC firm

Zillow CEO Richard Barton (Credit: JD Lasica via Flickr, iStock)

Zillow slashes expenses by 25%, cancels revenue guidance

Zillow CEO Rich Barton (Credit: Erik (HASH) Hersman via Flickr)

Zillow latest iBuyer to press pause

Realogy CEO Ryan Schneider (Credit: Jhila Farzaneh for The Real Deal)

Realogy is latest iBuyer to suspend cash offers

StreetEasy's Matt Daimler (Credit: Dave Dugdale via Flickr)

StreetEasy slashes fee to post rental listings

arrow_forward_ios
Loading...