She is the richest woman in the UK and one of the richest people on the planet. Briton Denise Coates, 53, is the head of Bet365, an online sports betting site. She has been talking about her in recent days after her income for the year 2020 was disclosed: 469 million pounds, or 551 million euros …
Denise Coates is not a name known to the general public. Yet the 53-year-old Briton is the head of one of the largest online gaming companies in the world: Bet365. Founded in the early 2000s, the company has benefited from the growing popularity of online sports betting to establish itself in a very competitive environment.
Based in Stoke-on-Trent, England, Bet365 posted revenue of £ 2.8bn last year (around € 3.29bn), down 8% from the previous year, the Covid-19 pandemic having slowed down competitions and sports betting.
Despite a difficult year for online betting due to the slowdown in sports competitions, Denise Coates won more than the previous year.
She pocketed £ 421million (€ 497million) in salary last year, and even £ 469million in total with dividends, or around € 551million, reports the BBC. The salary received in March 2020 by Denise Coates “Was more than 50% higher than the sum of 277 million pounds (266 million euros) it received in 2019”, according to the BBC.
Figures revealed a few days ago and which is causing a lot of noise (and jealousy) in the UK with a question that comes up regularly: is such a salary justified?
Bet365 boss earns £469m in a single year https://t.co/dH8uEc1zcs
— BBC News (UK) (@BBCNews) March 31, 2021
All that can be said without being mistaken is that this amount represents a monthly salary of around 41 million euros, i.e. more than 1.361 million euros per day! “The group ensures that the compensation of all employees is appropriate and fair, and reflects the contribution and contribution of the individual to the company as well as the overall performance of the group”, Bet365 management explained in a statement.
Obviously, such a salary makes her one of the highest paid business leaders in the world. It also reinforces her status as the richest woman in the UK, and she is among the richest people in this world. According to the American news agency Bloomberg, the businesswoman is said to have raised $ 1.5 billion over the past decade (around 1.3 billion euros). With an estimated fortune of $ 10.3 billion, she occupies the 219e place in the ranking of billionaires on the planet established by Bloomberg, well behind the French Françoise Bettencourt Meyers, 67, the richest woman in the world with 76 billion dollars.
However, UK-wide, Denise Coates is the only woman among 17 British billionaires to appear in the Bloomberg rankings. It includes Richard Branson, the founder of the Virgin group, and Joe Lewis, owner of the football club Tottenham.
Bet365 boss Denise Coates’ pay may exceed £1bn in four years https://t.co/HK8Z2DRK7s
— The Guardian (@guardian) March 31, 2021
Very young business manager
How did Denise Coates make her fortune? After graduating in econometrics (a branch of economics whose goal is to write and test economic models) at the University of Sheffield in England, the young woman trained to become an accountant and took up a career in small chain of paris stores that his father owned. This is how she learns about the game.
At 22, she became its managing director and worked to develop the small business that would later become Bet365. In 2000, she became aware of the upheavals caused by the internet and the possibility of doing business anywhere in the world.
At the time, there were hundreds of online gambling and betting sites but limited to a single sport or gambling category. It was by inventing new rules, creating new opportunities and making Bet365 known to them. ‘a greater number of players, that Denis Coates will upset this very competitive universe.
The change took place in 2000 when she decided to set up her own betting platform which then made it possible to bet on any sport at any time of the day. The success story was engaged …