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Childhood images reveal humble origins of the self-made online shopping tycoon


Images revealing the humble childhood of self-made online shopping tycoon Matthew Molding, who grew up in a house with an outside toilet, can be revealed for the first time today by MailOnline.

Molding, who grew up on a two-up, two-down near Burnley and was banned from college for visiting his brother in prison, received a staggering £ 830 million payout after his company's share price rose sharply this week.

In these exclusive pictures he can be seen as a boy smiling shyly at the camera while holding a dripping ice cream while sitting in a lounge chair in a modest backyard.

A second picture shows a golden-haired boy in a striped T-shirt and dungarees, who is standing next to an older child in a matching outfit.

Molding, the son of an asphalt contractor, founded the technology company The Hut Group in 2004.

Matthew Molding got the huge bonus after starting a hugely successful company

The 48-year-old grew up in Burnley in a "two-up, two-down" with an outside toilet

The 48-year-old grew up in Burnley in a "two-up, two-down" with an outside toilet

He founded tech company The Hut Group in 2004 and received one of the biggest bonuses in company history after the company's share price rose to meet his goal

He founded tech company The Hut Group in 2004 and received one of the biggest bonuses in company history after the company's share price rose to meet his goal

Molding sees itself as a very private person with a close circle of friends. Unlike the party personality of his later years, he still watches his boys' soccer games on weekends.

Molding sees itself as a very private person with a close circle of friends. Unlike the party personality of his later years, he still watches his boys' soccer games on weekends.

The 48-year-old owns 20 percent of the business, which operates more than 100 websites, including makeup brands like eyeko, Illamasqua, the retail website Look Fantastic, and a number of luxury hotels.

Now he's donating his £ 750,000 salary to charity, £ 10 million in support of Covid's relief efforts and an additional £ 2 million in PPE for frontline workers.

Molding sees itself as a very private person with a close circle of friends. Unlike the party personality of his later years, he still watches his boys' soccer games on weekends.

His childhood was often difficult. The family always worried about where the money would come from because his father had an unstable, self-employed job as an asphalt contractor.

His father bought a cart full of asphalt from the quarry before heading to affluent neighborhoods for jobs that resurfaced people's drives. He was often left with a load that he couldn't sell, which would get tough and be wasted.

Molding didn't really enjoy school, but although he was a bit of a loner, he got a GCSES clutch in grade B-D – enough to go to college.

However, he was soon expelled for missing too many hours to see his brother, who was in jail. He took a job at an auto parts factory, doing 16-hour double shifts to make as much money as possible.

However, his potential was discovered by his economics teacher, who wanted him to come back to college the following year and focus on his clear talent for the subject and math.

Mr. Molding cannot actually sell his shares until March due to a blocking period of 180 days. Pictured: the tycoon with his wife Jodie

Mr. Molding cannot actually sell his shares until March due to a blocking period of 180 days. Pictured: the tycoon with his wife Jodie

Earning Money: Hut Group's founder and fitness fanatic, Matt Molding (top in red shorts)

Earning Money: Hut Group's founder and fitness fanatic, Matt Molding (top in red shorts)

With two A's and one B at A-Level, he won a place at Nottingham University to be the first member of his family to study industrial economics.

His family home in Colne was brought in for about £ 2,000 in the mid 1970s and is now worth about £ 145,000. It was located next to a 100 foot bus depot and had an outside toilet and no shower at the time of moving in.

Now his family has a fortune of £ 600 million, with the tycoon tightly controlling his vast empire via his iPhone, working long hours and drinking 20 shots of coffee a day – although he finds time to vacation in the Maldives with his wife and four children and Dubai.

He confessed that Despite his success, his childhood has left him with a fear of losing everything. He says he has never forgotten his roots and is still returning to his school.

He speaks to his ex-convict brother every week. His family has received financial support over the years and received shares valued at astronomical sums.

His stroke of luck came this week after his company hit a target set when it went public on the London Stock Exchange in September at 500p a share and valued at £ 5.4 billion. The share price is now 647.8 pence.

The Float of the Hat was the largest e-commerce IPO in Europe and the largest tech IPO in London, according to the London Stock Exchange.

The total payout from the program to Mr Molding could reach £ 1 billion if The Hut's market cap continues to rise to £ 7.25 billion.

Even if the current price were to stay the same, Molding's payday still dwarfs the £ 323million that Denise Coates, founder of gambling giant Bet 365, received in 2018.

The 48-year-old owns 20 percent of the business best known for his MyProtein branded fitness supplements

The 48-year-old owns 20 percent of the business best known for his MyProtein branded fitness supplements

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