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Bet365 Boss Gets 45% Pay Rise To Earn UK's 'Highest Ever Salary'

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Bet365 Boss Gets 45% Pay Rise To Earn UK's 'Highest Ever Salary'

Regardless of how much you earn, you almost certainly won't feel like you're paid enough.

Well, that's unless you're the boss of gambling firm Bet365, who has reportedly earned a pay packet worth £469 million ($645.5m) in a single year.

Denise Coates, 53, is said to have earned a £421m ($579m) salary in a 12-month period, along with £48m ($66m) in dividends - thought to be one of the biggest packages in UK corporate history.

Denise Coates with her Commander of the British Empire (CBE) medal which was presented by the Prince of Wales in 2012. Credit: PA
Denise Coates with her Commander of the British Empire (CBE) medal which was presented by the Prince of Wales in 2012. Credit: PA
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This means, if broken down, that Denise earned over £1.2m per day - and that's including weekends and bank holidays.

The joint chief executive of Bet365 has actually seen her income almost double from the £277m ($381m) she took home in the tax year ending March 2019. Even then, Denise was still the highest-paid boss in the country.

Ms Coates founded the online gambling company in the early 2000s in Stoke-on-Trent, after spotting the potential of internet betting to revolutionise the industry.

Credit: PA
Credit: PA
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The company told the BBC the arrangements were 'appropriate and fair'.

With a hefty salary comes a pretty big tax payment, of course, which means that Ms Coates was the country's largest taxpayer for the second year running, according to the last annual Sunday Times Tax List.

She and her family, who are worth £7.166 billion ($9.86bn), had a tax liability of £573m ($788m) last year.

Ms Coates has previously used the company's annual report to highlight her charity work.

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In the year up to the end of March 2019 she donated £85m ($117m) from the business's coffers to the Denise Coates Foundation, up from £75m ($103m) the year before.

Another person who seems to be doing pretty well for themselves is hedge fund billionaire Sir Chris Hohn who took home £343m ($479m) from the past year.

Hohn in 2009. Credit: PA
Hohn in 2009. Credit: PA

The son of a Jamaican car mechanic, Hohn studied at Southampton University before going on to get his MBA at Harvard.

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After briefly working in consulting and private equity, he joined Richard Perry's hedge fund, Perry Capital, in 1996.

Having opened Perry's first UK office and launching his own portfolio, Hohn eventually left to set up The Children's Investment Fund in 2003.

He then paid himself the huge wage after The Children's Investment Fund recorded a 66 percent jump in pre-tax profits to $695m (£497m).

Featured Image Credit: PA

Topics: UK News, News, UK

Rebecca Shepherd
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