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
Opendoor CEO Eric Wu (iStock)
Opendoor revenue bounces back in Q1
Opendoor revenue bounces back in Q1
Zillow CEO Rich Barton (Getty)
Zillow profits hit record $52M in Q1
Zillow profits hit record $52M in Q1
This is your home on tech
This is your home on tech
This is your home on tech
Rich Barton
Inside Rich Barton’s quest to dominate homebuying
Inside Rich Barton’s quest to dominate homebuying
Pacaso's Spencer Rascoff and Austin Allison (iStock, Pacaso)
Spencer Rascoff’s Pacaso is worth $1B
Spencer Rascoff’s Pacaso is worth $1B
Offerpad's Brian Bair, Zillow's Rich Barton and Opendoor's Eric Wu. (Offerpad, Zillow, Opendoor)
How the “Big Three” iBuyers stack up
How the “Big Three” iBuyers stack up
arrow_forward_ios

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

Loading...