’s Simon Nixon makes £56m from share sale

Co-founder of price comparison website has sold 20 million shares with 12.8% equity left in the business co-founder Simon Nixon has sold 20 million of his shares in the business, cashing in around £56m.

The news, which comes after the entrepreneur backed out of an earlier share sale on March 24, sees Nixon give away a 3.7% equity stake with 12.8% remaining in the price comparison website following the share sale.

Nixon lauched with co-founder Duncan Cameron in 1999 and in 2007 the duo floated the company on the London Stock Exchange. In June of the same year, Cameron sold his 48% stake in the business for an estimated £162m.

Having originally started the company to cater for mortgage deals, today Moneysupermarket covers comparison services for insurance, mobile phones, car insurance, holidays and more.

Nixon is said to have already netted over £400m from the sale of his shares in the business to date and the Sunday Times Rich List estimates his total worth to be around £945m.


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