Time.news – Record Salary and All-British Female Success Story: Denise Coates, co-founder of Bet365, an online betting company who grossed millions during the pandemic, increased his salary by 52%. Coates earned £ 421 million last year (over 494 million euros).
This was reported by the overseas press underlining that in 2020 the CEO of Bet365 saw her salary rise by 56 million euros, thanks to an increase in turnover of 50%, with a daily wage of 1.53 million and hourly of 63,500 euros.
A dizzying salary that makes 53-year-old Coates jump at the top of the ranking of the highest salaries ever, earning more than the CEOs of the 100 largest UK companies combined and 3,126 times more than the prime minister. Bet365 distributes to its senior managers, including his brother, John Coates, a total salary of over 713 million euros.
There was no lack of criticism from deputies, representatives of civil society, defenders of consumer rights who accuse it of having built an empire on online betting, making a profit on the skin of those suffering from gambling addiction, sometimes with tragic implications on the own skin and family.
The Coates family fortune is estimated at nearly 8 billion euros. Denise has thus risen to fifth place in the ranking of the richest women in Great Britain, behind Marit and Kirsten Rausing, Charlene de Carvalho-Heineken and Kirsty Bertarelli. British media are covering Denise Coates after the revelations about mega glass villa, luxurious and modernist, which is being built by architect Norman Foster in Cheshire.
A € 105.7 million project which includes the construction of an artificial lake, submerged tennis courts, stables, ornamental gardens, cottages for its employees and a boat house immersed in a 21-hectare park. A project to which the entrepreneur has been dedicating herself since 2014, the year in which she began to buy hectares of land around her property to be more isolated. He also had 200 trees planted and a two-meter high fence built all around with 24-hour security.
According to some press sources, including Times, in the past Denise Coates was considered a girl who “did good, helped schools and devoted herself to charity especially when she has gone from a fairly modest life to wealth “. A change of course would have occurred in 2017 when she mainly focused on building her mega property.
But the British press also points out that this incredible residence of hers is not meant to be a blatant demonstration of the wealth of Coates, who drives an Aston Martin DB9 with personalized plates, as she has a humbler family background behind her and she herself has begun working in the betting industry when he was still a teenager.
He worked in the shops of his father, the son of a miner who made a fortune in the stadium catering business. A bachelor’s degree in econometrics from the University of Sheffield, Denise Coates realized in 2001 that the future of betting was going to be online, so she bought the domain on eBay and launched the Bet365 site. Married to Richard Smith, met at university, the couple has 5 children of which 4 are adopted.
With the Bet365 company the Coates family turns out to be the one that pays the most taxes to the state, in addition to owning the football club Stoke City and donating funds to charity, in 2019-2020 for an amount over 100 million euros for the foundation of the entrepreneur who among other things supported Oxfam. Instead, it was heavily criticized for not supporting the Gamble Aware fund enough to fight gambling addiction.