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Bruce brothers who founded Purplebricks enter Sunday Times Rich List for first time

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Michael and Kenny Bruce have been included in the Sunday Times Rich List for the first time.

They are estimated to have wealth of £190m, placing them as the 630th wealthiest people in the UK – richer than the Duke of Marlborough, Sir Rod Stewart and Sir Tim Rice.

The entry says: “Bruce brothers Michael, 44, and Kenny, 42, first registered the Purplebricks.com name six years ago and have since created a game-changing business.

“Sellers list their homes on the website, which employs ‘local experts’ to value the property. It levies a flat fee of £849, or £1,119 in London, whether or not the home is sold. Earlier this year Axel Springer acquired an 11.5% interest in the Solihull-based firm for £125m, valuing it at £1bn, with the family’s holding worth £135m.”

The Bruces are, however, some way behind Foxtons founder Jon Hunt, who is in 98th place with a fortune of £1.4bn – up £40m in the last year.

The astute Hunt sold Foxtons at the height of the last boom for £375m. He has since gone on to bolster his wealth through commercial property.

Also in the Rich List are buy-to-let landlords Fergus and Judith Wilson in 793rd place with wealth estimated at £140m.

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Source:: Bruce brothers who founded Purplebricks enter Sunday Times Rich List for first time