Michael and Kenny Bruce have been included in the Sunday Times Rich List for the first time.
They are estimated to have wealth of £190m, placing them as the 630th wealthiest people in the UK – richer than the Duke of Marlborough, Sir Rod Stewart and Sir Tim Rice.
The entry says: “Bruce brothers Michael, 44, and Kenny, 42, first registered the Purplebricks.com name six years ago and have since created a game-changing business.
“Sellers list their homes on the website, which employs ‘local experts’ to value the property. It levies a flat fee of £849, or £1,119 in London, whether or not the home is sold. Earlier this year Axel Springer acquired an 11.5% interest in the Solihull-based firm for £125m, valuing it at £1bn, with the family’s holding worth £135m.”
The Bruces are, however, some way behind Foxtons founder Jon Hunt, who is in 98th place with a fortune of £1.4bn – up £40m in the last year.
The astute Hunt sold Foxtons at the height of the last boom for £375m. He has since gone on to bolster his wealth through commercial property.
Also in the Rich List are buy-to-let landlords Fergus and Judith Wilson in 793rd place with wealth estimated at £140m.
Comments (10)
https://www.youtube.com/watch?v=zEFcGgC2kzg
You have done well Dom & Ducky. Your purple masters are most pleased by your success in helping to enrich their bank accounts.
Who would of thought it, you could make no money but earn a fortune in the process.
Like it or not they’ve come up with a product that has changed the game. Plenty of sly digs about fleecing investors, what can’t be argued with is the rise in popularity with the most important people in all of this….the consumer.
If competitors spent as much time focussing on their own business as opposed to sniping at PB’s & other online operators they to would get a better return.
Hard to focus on your business when the winners are the ones who make no money and destroy an industry with fake adverts and claims .
Not even the Lord understands this one.
I commend the Bruce brothers for finding a way of making stacks of money from investors willing to pump hundreds of million of pounds for nothing in return, and gullible vendors parting with their hard earned cash for often also nothing in return.
They really must be lauded for finding so many stupid people to fund their retirement.
Ponzi
Pyramid rather than Ponzi.
I’m sure all the PB investors must be delighted for them!
Maybe one day when they see a return on investment they might join the Brothers on the rich list?
I wouldn’t wait up though?
Lol