UK’s Richest Woman Earns $280-M Even As Her Firm Lost $76-M

The UK's richest woman, Denise Coates, earned $280 million despite her company's loss of $76 million.

Despite the losses, Coates's 2023 take-home is an increase from what she was paid the previous year: a nine-figure sum of $271.7 million. I Photo: Denise Coates

From a former mining hub in England's industrial north, Stoke-on-Trent has transformed into the residence of a billionaire. Reigning supreme is Denise Coates, the CEO and founder of Bet365—a betting powerhouse—and Britain's wealthiest woman, as reported by Eleanor Pringle for Fortune.

Coates launched the online website at the turn of the millennium and has since attracted more than 90 million customers worldwide.

The business is still based in the small city where Coates was born but generated £3.39 billion ($4.3 billion) in 2023. Coates received a massive paycheck for her work in 2023. Documents published on Companies House state that the business's top-paid director was awarded a sum of £220.6 million ($280 million).

This figure was awarded despite the company's main sports and gaming division operating at a loss of more than £60 million ($76 million) for the year.

Despite the losses, Coates's 2023 take-home is an increase from what she was paid the previous year: a nine-figure sum of $271.7 million. In the year to March 2023, the company paid out exactly £100 million ($127.4 million) in dividends.

As the company's majority shareholder, with a stake of 58.3%, the CEO would have had a further boost in the region of £50 million ($63.7 million), bringing her total compensation package to approximately £270 million ($344 million).

Bloomberg's Billionaires Index stated that Coates has received approximately £1.5 billion in salary and dividends over the past decade.

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