Tim Steiner (businessman)
Tim Steiner | |
|---|---|
| Born | December 9, 1969 United Kingdom |
| Occupation(s) | Entrepreneur, CEO |
| Known for | Co-founder and CEO of Ocado |
Tim Steiner (born 9 December 1969) is a British entrepreneur who co-founded and currently serves as CEO of Ocado, a leading online grocery and technology firm listed on the FTSE 100. By May 2023, Ocado's market value neared £3 billion. According to the 2020 Sunday Times Rich List, Steiner's estimated net worth stood at £403 million.
Early life
Steiner was born on 9 December 1969 and received his education at Haberdashers' Aske's Boys' School in Hertfordshire. He pursued a degree in Economics at the University of Manchester.
Career
Starting his professional journey in 1992, Steiner worked as a bond trader for Goldman Sachs, gaining experience across London, New York, and Hong Kong over eight years. In 2000, he co-established Ocado alongside Jonathan Faiman and Jason Gissing. Prior to Ocado’s listing on the London Stock Exchange in 2010, Faiman left the company, while Gissing exited in 2014. Steiner continues to hold the position of CEO.
In the fiscal year ending December 2019, Steiner earned a remuneration package totaling £58.7 million. Following the UK’s COVID-19 lockdown implemented in March 2020, Ocado experienced a revenue surge of 40% during April and May compared to the same period the previous year.
During the 2019 UK general election, Steiner contributed £50,000 to the Conservative Party.
Personal life
Raised in North London, Steiner has four children with his former spouse Belinda. The couple finalized their divorce in 2016.