The co-founder of, who recently sold his Chester home for £1.65m, has sold off his final stake in the Ewloe-based price comparison site for £124m.

Simon Nixon, whose home overlooked the River Dee , cashed in his remaining 37.8 million shares – equating to a 6.9% stake in the company – today (March 16) for 328p a share.

The move saw the company’s share price plummet by more than 5% to 325p.

The £124m cash-in brings Nixon’s total from selling his stake in the firm over recent years to more than £700m.

Nixon’s previously sold shares in in December last year and cashed in £98m.

Related story: Chester dotcom millionaire Simon Nixon sells his home

He created the site with Duncan Cameron in 1999, after dropping out of his accountancy course at Nottingham University, claiming it was 'boring'.

The businessman stepped down as chief executive of in 2008 and at the end of last year gave up his role as non-executive deputy chairman.

Earlier this month, the site said underlying operating profits rose 15% last year to £100.1m.

The company's recent TV ad of a man walking down a street and dancing while wearing denim shorts and high-heeled shoes was the 'most-complained about' in 2015, according to the Advertising Standards Authority.

Related story: Chester Moneysupermarket website ad 'most complained about' in 2015

Rich List

Nixon was named as the UK’s 120th richest in the Sunday Times Rich List 2015, reportedly being worth £945m. He moved to Jersey in 2012.

Related: Dot com millionaire's Chester home up for sale

Nixon owns a number of private properties which are rented out by his holiday business SimonEscapes.

The holiday firm has luxury homes up for rent all across UK including Abersoch Bay as well as The Cotswolds, Cornwall, Lake Windermere, as well as abroad in Mallorca and Barbados.