Simon Nixon Success Story
Simon Nixon found university education of accounting boring and dropped out. But today, he is one of the top millionaires of the UK. He is the man who founded MoneySuperMarket in 1993 while still pursuing his university education. He is not the son of a millionaire, an is one of the very few people who have gathered so much wealth and success before the age of 40. Simon is a Ferrari lover, but likes to keep his personal life away from media.
Simon got enrolled into an accountancy course in Nottingham University, but he dropped out without completing it. In an interview, he said ‘I hated it. It was boring’. Realizing the lack of a way to evaluate and compare mortgage deals, he made up his mind to launch a business where users could do price comparison. He setup a magazine that listed best-buy tables, and sent them out for free. As it got popular, he stared charging £11 for a fortnightly subscription. Within a couple of years, he had started earning £10,000 each month.
Founding of MoneySuperMarket
Duncan Cameron was 18 years old at that time, and his then girlfriend’s brother. Simon Nixon persuaded him to drop out of the Liverpool University, and help him in setting up a website for his purpose. He gave 50% of the company to Cameron, and together they established MoneySuperMarket.com in 1999. It was a price comparison website which people can use to compare rates for a wide range of products, including loans, credit cards and mortgages. But unfortunately, both of the partners fell out, and did not talk to each other for at least 5 years. Ultimately, in 2007, Cameron sold his 50% for £162 million, and now the company’s stock market value is over £1.1 billion.
Nixon is a Liverpool FC fan, and owns more than 50% of the company worth extra £340 million. He is a luxury lover, and utilizes a great part of his wealth for his enjoyment. He admits being a travel enthusiast, and frequently takes refuge to the Lake District, or St Tropez or Majorca with his girlfriend in his private hired jet. He says that ‘I get away about 15 times a year. Sometimes, it is just a long weekend but I feel the need to recharge my batteries’. His mother had died when he was still in his teens, and he was left feeling unsecured, vulnerable and exposed in this world. He was largely inspired by uncle Dave, who had ‘a nice house, a nice car, nice holidays and I thought, 'I'd like that'. Now, he has made a fortune for himself, and his life is an inspiration for many.