Zillow cofounders Rich Barton and Lloyd Frink debuted on theBillionaires list on Tuesday following a heady year both for their company and the broader residential real estate market. Barton, 53, joins the rankings with a net worth of $2.2 billion and Frink, 56, with $1.4 billion. They are among five U.S. real estate billionaires to join the list for the first time.Forbes
, inflated by low inventory, rock-bottom interest rates and a spike in activity driven by prospective buyers fleeing cities and seeking more space in the wake of the pandemic. CoreLogic predicts an additional 3.3% bump by January 2022. last May. “We didn’t know, when this first hit and the fog was thick, where this was going to go. . . .
“This is both an upside play and a downside protection play,” Clelia Warburg Peters, a venture partner at Bain Capital Ventures, says of Zillow’s strategy. “If i-buying ends up being a big successful trend, they will have done two things: They are positioned to be a leader in the space, plus they are protecting themselves from having their lunch eaten by another leader in the space.”
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