Zoopla founder Alex Chesterman has been included in the Sunday Times Rich List for the first time.
He has an estimated net worth of £750m, placing him as the 215th wealthiest person in the UK.
Chesterman, who founded Zoopla in 2007, now heads up car business Cazoo, which is the third successful tech firm that he has built up.
In 2018 he sold Zoopla for £2bn to the US private-equity group Silver Lake. He pocketed at least £200m from selling stakes in the property portal over the years.
His first fortune came from Lovefilm, the DVD-by-mail service. Chesterman received £20m when it was sold to Amazon in 2011 for £200m.
Earlier this year Chesterman, who gained an economics degree, sold shares in Cazoo worth £100m. This was just before press reports revealed that he had appointed bankers to work up a float valuing Cazoo at £5bn.
Comments (2)
Cazoo is overvalued according to City analysts and apparently it’s a bubble that may burst at some point soon. This aside, congratulations to Chesterman for pulling off another whopping money making scheme.
£5billion is a lot of money for a new company. What an incredible entrepreneur!
I think this story really demonstrates how gullible the Scott Trust are. Every time you read a Guardian story they are sat there with a digital begging bowl requesting your small change. They used to own Auto trader and used to own what is now Zoopla. How trusting of advice do you have to be to give away not one but two golden egg laying geese?