Billionaire founder and chairman of InterActiveCorp (IAC) Barry Diller officially broke up with dating app Tinder by selling his entire financial stake in its owner, Match Group, Forbes reported on Thursday.
Diller sold off his entire stake in Match Group – which also includes dating apps Hinge, OkCupid and Match.com in its portfolio – for approximately $1.9 billion, the report said, citing Diller’s family office.
Diller inconspicuously sold the stocks throughout 2021, earning roughly $1.3 billion after taxes, according to the report.
Diller held 16.1 million Match Group shares after the organization split from IAC as a public company in July 2020, the report said. However, Match Group and Tinder have since engaged in legal battles, with the latter claiming to have been undervalued during acquisition, the report also said.
Diller avoided a turbulent period for Match Group by selling stock in 2021, with the stock’s value having fallen by nearly 60% in 2022, according to the report.
The sale brings Diller’s net worth to approximately $4 billion, the report added.