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Berkeley tycoon Tony Pidgley cashes in another £50m worth of shares 


Berkeley tycoon Tony Pidgley cashes in another £50m worth of company shares

The housing tycoon behind Berkeley Group cashed in on the ‘Boris bounce’ by selling £50.5m worth of shares.

Tony Pidgley sold just over 1m shares in his company for 5040p each on Monday, according to regulatory filings. 

It takes his total haul from share sales since April 2017 to £216million.

Berkeley Group boss Tony Pidgley sold just over 1m shares in his company for 5040p each on Monday, according to regulatory filings

Berkeley Group boss Tony Pidgley sold just over 1m shares in his company for 5040p each on Monday, according to regulatory filings

And it reduced his stake to 1.3 per cent, meaning he is now longer a top ten shareholder. That stake is worth around £82million.

The 72-year-old moved after Berkeley surged 10 per cent higher on Friday, as markets welcomed the Conservative election victory. 

Yesterday, after his sale was revealed, they dipped 2.5 per cent, or 132p to 5082p.

Berkeley declined to comment on the transaction.

Pidgley’s string of lucrative sales put him among the richest housebuilders, with his deals even dwarfing the controversial £85million package handed to former Persimmon boss Jeff Fairburn.

The father-of-four founded Surrey-based Berkeley in 1976.

It is now one of Britain’s biggest builders, with a market valuation of £6.4billion.

Its success allowed Pidgley, to buy a 16th century house in 100 acres in Windsor. 

He is estimated to have a fortune of £355million.

 



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