Denise Coates and family earn top-20 spot in Sunday Times Rich List 2021
Bet365’s Denise, John and Peter Coates rank 17th on the roll call of the UK’s wealthiest as their net worth climbs by £1.3bn
Bet365 owners Denise, John and Peter Coates have ranked 17th in the Sunday Times Rich List for 2021 with an estimated net worth of £8.45bn.
The trio dropped one position on last year’s rankings despite an increase in net worth of around £1.28bn as the illustrious list of the 250 wealthiest UK-based families and individuals broke new boundaries in 2021.
This year’s list identified a record 171 UK billionaires – 24 more than in 2020.
That is the biggest jump in the 33 years since the broadsheet newspaper has been tracking the fortunes of the UK’s most affluent people.
The combined fortunes of the billionaires on the list grew by nearly 22% to £597.3bn, with many benefitting from the Covid-19 pandemic.
Bet365 CEO Denise Coates
The Sunday Times said: “Just 20 years after setting up Bet365 on a hunch that the internet would transform gambling, Denise Coates, 53, awarded herself a salary of £421m from the Stoke-on-Trent-based online betting giant.
“The pay cheque is thought to be the biggest in British corporate history, but 2019-20 was the year when Bet365’s astonishing growth finally sputtered to a halt.
“Turnover fell to £2.81bn as Covid-19 wiped out the sporting calendar on which it feeds. Profits fell by 74% to £194.7m, although this was partly due to Coates’ mammoth earnings.”
Bet365 reported an 8% decrease in revenue to £2.81bn for the 52-week period ended 29 March 2020.
Elsewhere, PokerStars co-founder Mark Scheinberg made the top 50 with a net worth of £3.52bn.
Betfred founder Fred Done and his brother Peter also made the list at position 137 (£1.24bn), as did PartyGaming founder Ruth Parasol at position 208 (£780m).