What is Richie Barton's net worth?
| net worth: | $2.1 billion |
|---|---|
| age: | 57 |
| Date of Birth: | June 2, 1967 |
| gender: | male |
| high: | unknown |
| country of origin: | USA |
| Source of wealth: | entrepreneur |
| Last updated: | September 9, 2024 |
introduce
Rich Barton is an American entrepreneur and CEO of Zillow Group with an estimated net worth of $2.1 billion.
Barton founded several companies, including online travel company Zillow, job search engine Glassdoor and photography website Trover.
Barton was a venture capital partner at Benchmark and currently serves on the boards of Netflix, Avvo, Nextdoor and Artsy.
early life
Richard Patton was born on June 2, 1967, and grew up in New Canaan, Connecticut.
Patton was the son of a teacher and a mechanical engineer.
Barton graduated from Stanford University in 1989. He then worked for Alliance Consulting Group and Microsoft starting in 1991. His ancestor John Barton and his son Horace were inducted into the South Dakota Tennis Hall of Fame in 1999.
Profession
Rich Barton began working at Alliance Consulting Group in 1989 after graduating from Stanford University with a degree in engineering.
In 1991, he left Microsoft and started working as a project manager for the operating system MS-DOS 5.0. While working at Microsoft, Barton founded the travel website Expedia in 1994, when the company was planning to produce travel guides on CD-ROMs. However, Barton proposed the idea of an online service to Bill Gates, who allowed him to continue with the project.
In 1996, Expedia debuted on the Internet, and Rich served as CEO through the site's IPO until it was acquired in 2003 for $3.6 billion.
Earn Billions
After selling Expedia's intellectual property, Rich Barton took a year off from the business to relax in Italy and enjoy his success, but he didn't rest for long, as he returned to the company in 2004 to start working on the next business plan.
Now, in Seattle, Barton has begun working on Zillow, a website he believes can transform the real estate industry.
Zillow was incorporated in Washington in December 2004 and officially launched in February 2006.
The site, which included home valuation tools, sales histories and value appreciation information when it launched, crashed on the morning of its launch because the servers were not powerful enough to handle the huge volume of traffic.
By 2008, Zillow had grown exponentially and in 2010 became incredibly profitable for the first time since its launch.
In 2012, Barton acquired Rentjuice and Hotpads, in 2013 it acquired Street Easy, and in 2015 it acquired Trulia.
All of this has helped Richie Barton become one of the richest men in the United States, and his net worth continues to increase.
Maintaining Zillow
Although Rich Barton stepped down as CEO in 2010, he returned to the CEO position in 2019, succeeding Spencer Rascoff. A year earlier, the site began buying and selling through the new Zillow Offers platform, which partners with local real estate agents. After returning to the CEO position, Barton began expanding Zillow Offers to new markets across the United States.
However, when the pandemic hit in 2020, Zillow's stock price fell to a four-year low, forcing them to cut expenses to remain profitable.
By July 2020, Zillow became one of the first companies to allow employees to work from home permanently. This enabled them to hire an additional 1,500 employees, with plans to increase headcount by 40% by the end of 2021.
Unfortunately, things didn't work out, and Barton announced in November 2021 that Zillow would shut down its home buying business and lay off 25% of its employees.
Still, that didn’t stop Zillow Group from acquiring other businesses in the 2020s to expand its reach. These companies include ShowingTime, Follow Up Boss, and VRX Media, all of which have generated revenue for Zillow. Meanwhile, Forbes named Barton a billionaire in 2020 as his income from Zillow continued to grow.
Richie Barton is now one of the richest men in the world and he has undoubtedly lived up to his name, making billions of dollars through his businesses.
Richie Barton Net Worth
In 2024, Rich Barton's net worth is estimated to be $2.1 billion.
How does Rich Barton spend his money?
Rich Barton spends his money on real estate.
Rich Barton's housing and other expenses
Barton, who owns a home in Seattle, Washington, has a $700 million stake in Zillow and plans to turn it into a home-flipping machine.
Highlights
Here are some highlights from Rich Barton's career:
- CEO, Zillow Group
- Named one of the top 10 innovators under 35 by MIT Technology Review (2003)
- Presidential Ambassador for Mainland Entrepreneurs (2012)
Summary
Rich Barton is an American entrepreneur and businessman, best known for being the CEO of Zillow Group.
He is also the founder of Expedia and Glassdoor. Barton was born in Connecticut and graduated from Stanford University. He also founded Trover, an online travel photography sharing website.
He is a venture capital partner at Benchmark and serves on the boards of Netflix and Artsy. In 2012, he was named one of Barack Obama’s Presidential Ambassadors for Continental Entrepreneurship.
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Categories: Net Worth
Source: svlsf.edu.vn