Moneysupermarket founder is sooo selling a £165m stake

Simon Nixon wants to sell a 15% stake in the company - the first time he's sold any of his holding since 2007.

by Emma Haslett
Last Updated: 31 Jul 2013

Simon Nixon, the man who founded price comparison website (and is therefore one to the blame for the phrase ‘sooo Moneysupermarket’), is planning to sell shares in the website worth £165m – which works out at about 15% of the company.

Perma-tanned Nixon, who founded the Moneysupermarket in 1993 and floated it in 2007, stepped down as chief exec in 2008 but still owns just under 50%. Since then, he’s started another couple of businesses: simonseeks, a travel review site; and Simon Escapes, a collection of posh holiday cottages in the UK and Spain.

It isn’t clear what Nixon needs the cash for (a new wardrobe for his curiously large collection of pink shirts, perhaps?) – the statement says he wants to ‘diversify his personal holdings’, but it’ll be the first major disposal of his stake in the company he’s made since its flotation in 2007. It comes just over a month after he changed his role from executive deputy chairman to non-executive deputy chairman – suggesting he is planning to step back from the company.
This could all be part of his plan to ‘spend more time abroad’. Having threatened, in November, to move to Jersey to make the most of the tax regime  there, in a February interview with the Chester Chronicle (his local paper), he said he wanted to move to Spain because the British weather is ‘bloody awful’. Decisions, decisions. Being a multi-millionaire is so tough these days… 

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