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Zillow Co-Founders Land On The Billionaires List Thanks To Booming Real Estate Market

Rich Barton and Lloyd Frink just joined the billionaire’s club thanks to a stellar year for Zillow and the residential real estate market. Frink’s and Barton’s net worth reached $1.4 billion and $2.2 billion, respectively.

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Zillow co-founders Rich Barton and Lloyd Frink just joined the billionaire’s club as their company soared thanks to a red hot residential real estate market. Barton presently has a net worth of $2.2 billion, while Frink has a net worth of $1.4 billion.

Barton was CEO of Zillow from 2005 to 2010 and returned to the post again in 2019. The executive chairman and president is Frink.

In 2020, Zillow generated $3.3 billion in revenue. That’s an 18% increase of 2019’s revenue of $2.7 billion and a 60% increase over 2018’s revenue of $1.3 billion.

Zillow’s stock price surged by 700% from the March 2020 low to the February 2021 record high.

Zillow is a real estate and technology enterprise in equal measure. From the app, users can explore listings. Some buyers are offered a chance to sell their homes directly to Zillow for cash based on the value Zillow assigns their property. The business refers to this as “i-buying.”

SAUL LOEB/AFP via Getty Images

S. A. L. O. E. B. via Getty Images

When he was 14 in 1979, Frink worked as an intern at Microsoft. In 1987, he received his Stanford degree. Nine years later, he started working there full-time. Prior to IAC’s 2003 acquisition of Expedia, he served as senior vice president there. Following the acquisition of Expedia, Barton spent a year living and working in Italy while also discussing the company’s future plans with Frink. Both guys were simultaneously looking for new homes and were dissatisfied with the procedure. Out of this encounter, Zillow was created. At Zillow, he’s responsible for the company’s business and product strategies as well as building new technology to make it faster to list, sell, buy, rent, and finance homes.

Well done, Rich and Lloyd!