Britain’s Newest Billionaire Got Rich on Protein Powder and DVDs
- E-commerce firm sold 376 million shares at 5 pounds each
- Moulding and his family own about a quarter of the company
Source: THG Holdings Ltd.
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On his account, Matthew Moulding’s online retail business almost destroyed his personal finances back in the day. Today, it’s putting him among the world’s ultra-rich.
THG Holdings Ltd., the British e-commerce operator he co-founded, surged 25% on its trading debut after the company raised 1.9 billion pounds ($2.4 billion) in Europe’s second-largest listing this year and the biggest on the London Stock Exchange since June 2017. Moulding’s stake was worth about $2 billion as of the last close. The stock slipped 3.8% at 8:30 a.m. in London Thursday.