Wellington, Aug 22 NZPA - Trade Me founder Sam Morgan is getting a bonus of about $14 million from the success of the online auction site.

The Fairfax group paid $700m for TradeMe in 2006, with the deal having an earnout clause that lasted for two years.

Yesterday's annual results of the trans-Tasman Fairfax Media, showed TradeMe posting a 39 percent increase in profit to $70.1m.

Because the profit was so strong Fairfax had to pay $NZ45.2m to TradeMe's original shareholders as part of an earnout provision.

Added to another $4.8m last year, the extra took the total sale price to $750m, The Dominion Post reported today.

Mr Morgan, who is on holiday in Germany and France with his family after stepping down as chief executive of Trade Me this year, was worth an estimated $260m earlier this year.

He remains chairman of the Fairfax offshoot and spends about a day a week at the TradeMe offices when in Wellington.

Mr Morgan spends more time these days as an investor in early stage businesses through his company Jasmine and as a "social investor and philanthropist".

NZPA WGT mjd nb