Simon Nixon, founder of price comparison website MoneySupermarket went laughing all the way to the bank with £165m after selling a 14.8% stake in the business yesterday.
Nixon, worth £733m according to the Sunday Times Rich List, sold 80 million shares cutting his stake in the business to 35%.
Back in 2007, when the business floated on the stock exchange, he sold £105m of shares.
Nixon moved to a non-executive role in April and is known to be moving from Chester to Jersey for tax reasons.
Speaking about the stake sale, chairman Gerald Corbett said, “The board remains committed to a progressive dividend policy in line with the investment and capital needs of the business.
“The placing by Simon Nixon will increase liquidity and help normalise the company’s shareholding structure. Simon remains a major shareholder and will continue to play a key role on the board as the non-executive deputy chairman.”
You need to read:
SECURING BRITAIN’S FUTURE
Boris Johnson, Martha Lane Fox, Xavier Rolet, Doug Richard and more than 25 other London leaders share letters on how to safeguard our economy
Our free newsletter