Pot washer who launched own business to make £830m – one of Britain’s biggest payouts

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Matthew Moulding, whose first job was as a potwasher at his local pub, is set for one of the biggest payouts in British history.

After The Hut Group, which he co-founded back in 2004, saw its share price soar he's in line for an astonishing £830million.

The 48-year-old entrepreneur grew up in Colne, a town north of Burnley in Lancashire, the son of a road worker whose mother was a homemaker.

He attended a local state school, before going on to study industrial economics at Nottingham University and later founded The Hut Group.

Moulding owns 20% of the £6billon business, which runs more than 100 websites including Look Fantastic, make-up brands eyeko, MyProtein and several hotels.

The entrepreneur now has a fortune running to the hundreds of millions seeing Moulding enjoy luxury holidays holiday with his wife and four children, all the while helping run his empire from his phone.

The family returning from a skit trip in France
(Image: Instagram)

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Moulding's life changed when – as self-confessed latecomer to the internet – first bought a CD online.

He realised two things at once: firstly, how cheap it was and secondly that he could set up an online company selling things himeself.

But after finding the money to found The Hut Group with John Gallemore, things weren't quite as straightforward as he thought.

With a largely unknown brand struggling for sales, he had a second eureka moment – rather than selling things himself, he could use the technology he built to let other people create retail websites.

The Hut Group soon had everyone from Zavvi to Asda and Tesco signed up to use its platform and the company was soaring.

From there, rather than just hosting other people's sites, the company started buying firms outright – from MyProtein to LookFantastic and even hotels.

Moulding makes sure to keep working out wherever he ends up
(Image: Instagram)

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And Moulding works incredibly hard to keep it successful.

He generally gets up at 6am to check his messages on his phone, before starting working at 7. 

Moulding has meetings throughout the day – with a break for the gym – and is fuelled by coffee, before arriving home to his four children when he can escape the office. 

Matthew Moulding on holiday in Mallorca
(Image: Instagram)

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He currently has a basic salary of £750,000, which he has promised to give to charity.

However, earlier this year the company launched on the stock market for the first time – seeing it's value soar in the months since.

And that's seen Moulding's net worth increase again after many of his shares paid out when the firm's share price hit 703p – although it has fallen back to 631p since.

At current prices, Moulding's pay day is set to dwarf current best-pair boss in Britain – Denise Coates, founder of gambling giant Bet 365.

But Moulding can only sell his shares in March due to a six-month lock-in period.

The Hut Group founder Matthew Moulding (left) is in line for a massive payout
(Image: Instagram)

His incredible success has drawn criticism too as well as plaudits.

Luke Hildyard, director of the High Pay Centre, told the Daily Mail : "While the company has been celebrated as a British tech success story, these arrangements are far beyond what anybody could consider a fair and proportionate reward for success."

A spokesman for The Hut Group told the Daily Mail: "We are delighted with the market reaction to our IPO and that all of our shareholders are benefiting from the strong performance of the business. 

"The equity scheme was put in place when THG was a private company and we are delighted that over 200 THG staff have already shared in the scheme, worth around £200million today."

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