How much is Rich Barton’s net worth?
| net worth: | $2.1 billion |
|---|---|
| age: | 57 |
| Birth: | June 2, 1967 |
| gender: | Male |
| Height: | unknown |
| country of origin: | United States of america |
| Sources of funds: | entrepreneur |
| Last Updated: | July 24, 2024 |
Introduction
Rich Barton is an American entrepreneur and the CEO of Zillow Group who has an estimated net worth of $2.1 billion.
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Barton has founded several companies, including the online travel company Zillow, the job search engine Glassdoor, and the photography site Trover.
Barton was a venture partner at Benchmark and serves on the boards of directors of Netflix, Avvo, Nextdoor, and Artsy.
early life
Richard Barton was born on June 2, 1967, and raised in New Canaan, Connecticut.
Barton is the son of a teacher and a mechanical engineer.
Barton graduated from Stanford University in 1989. He then began working for Alliance Consulting Group and Microsoft in 1991. His ancestors, John Barton and his son Horace, were inducted into the South Dakota Tennis Hall of Fame in 1999.
Livelihood
After receiving an engineering degree from Stanford University, Rich Barton began working for Alliance Consulting Group in 1989.
In 1991, he quit his job and started working for Microsoft as a project manager for the operating system MS-DOS 5.0. While working for Microsoft, Barton founded the travel site Expedia in 1994 as the company was planning to create a travel guide on CD-ROM. However, Barton pitched the idea of an online service to Bill Gates, who allowed him to pursue the project.
Expedia made its Internet debut in 1996, and Rich was CEO from the site’s IPO until 2003, when it was acquired for $3.6 billion.
make billions
After selling Expedia’s IP, Rich Barton took a year’s break from the business to relax in Italy and enjoy his success. However, he didn’t relax for too long and returned in 2004 to set his next business plan in motion.
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Now in Seattle, Barton began working at a site called Zillow, which he believed could change the real estate industry.
In December 2004, Zillow was incorporated in Washington and officially launched in February 2006.
The site included a home valuation tool, sales history, and price appreciation information at launch. The site crashed on the morning of launch because the servers were not strong enough to handle the heavy traffic.
By 2008, Zillow had grown rapidly and, in 2010, became incredibly profitable for the first time since its launch.
In 2012, Barton purchased RentJuice and Hotpads, followed by StreetEasy in 2013 and Trulia in 2015.
All of this has helped make Rich Barton one of the richest people in America, and his net worth continues to rise.
Zillow Maintenance
Although Rich Barton resigned as CEO in 2010, he returned in 2019, replacing Spencer Rascoff. A year earlier, the site launched buying and selling through the new Zillow Offers, which partnered 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 hit a four-year low, forcing them to cut expenses to stay profitable.
By July 2020, Zillow became one of the first companies to allow employees to work from home permanently. This allowed them to hire an additional 1,500 employees with plans to increase their workforce by 40% by the end of 2021.
Unfortunately, things didn’t progress and Barton announced in November 2021 that Zillow was shutting down its home buying business and laying off 25% of its staff.
However, this did not stop Zillow Group from acquiring other businesses to expand its reach in the 2020s. These companies include ShowingTime, Follow Up Boss, and VRX Media, all of which have benefited Zillow. At the same time, Forbes declared Barton a billionaire in 2020 after a steady increase in his earnings from Zillow.
Now one of the richest people in the world, Rich Barton has undoubtedly lived up to his first name, earning billions through his business.
Rich Barton Net Worth
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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 House and Other Expenses
Barton owns a home in Seattle, Washington. Barton has a $700 million stake in Zillow and plans to turn it into a home-flipping machine.
Highlights
Here are some of the best highlights of Rich Barton’s career:
- Chief Executive Officer of Zillow Group
- One of the top 10 innovators under 35 by MIT Technology Review (2003)
- Presidential Ambassador for Continental Entrepreneurship (2012)
Favorite quotes from Rich Barton
“Until now, it has been quite difficult to find out the current market value of any home, whether it’s yours or one you want to bid on. We believe you shouldn’t need a computer science degree or a real estate license to find out the value of a home.” -Rich Barton
“Yes. The biggest trend is that purchases have increased for all types of homes. And this is when safety measures need to be increased.” – Rich Barton
“I look at this concept as ‘fast-forward to the future.’ I believe that this terrible event, this crisis of the pandemic, has created a huge opportunity for all of us to fast-forward to the future, whether it’s in the real estate industry or in many different industries.” – Rich Barton
“I think entrepreneurs, in whatever way or personality-wise, are people who need to be optimistic about the future. I think in times of crisis like right now, it’s optimism that keeps not just people but teams of people moving forward. It’s very difficult to be a successful leader and be a pessimist.” – Rich Barton
“It’s very hard to be effective and optimistic in your work when you’re scared for yourself, for your family, for your community. So for me, being part of a successful business enterprise like Zillow is about making sure I’m taking care of everything I need to do in my personal life, with my family and with my health.” – Rich Barton
Summary
Rich Barton is an American entrepreneur and businessman best known as 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 the online travel photography-sharing site Trover.
He was a venture partner at Benchmark and has served on the boards of directors of Netflix and Artsy. In 2012, he was named one of Barack Obama’s Presidential Ambassadors for Continental Entrepreneurship.
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Category: Net worth