The ‘Rich List’ reveals the wealth of the 350 richest people in Britain, in what is its 35th year running the list. The bet365 owners came in at number 16. They are the only people in the top 20 of the list involved in the gambling sector.
CEO Denise Coates is reported to have the highest salary in the country, despite a £170m pay cut, taking home £249.6m in 2020/21 plus a further £58.9m dividends from the company. They top the Sunday Times list of UK taxpayers with a tax liability of £481.7m, almost 40% more than anyone else.
The Sunday Times reports: "The family together own 93.3 per cent of bet365’s shares. This means they have received the bulk of the dividends paid out by the company — about £97.5 million in 2020-21".
"The scale of personal taxes paid by the Coates family, allied with the gambling duty and other levies paid by bet365, again propelled the family to the top of this year’s Sunday Times Tax List — with an estimated liability of £481.7 million."
bet365 took on hundreds of extra workers during the pandemic - after seeing profits rise to £285m. Latest accounts show the company's operating profit increased by more than 47% for year up to March 28, 2021. This was up £91m on 2020. Staff numbers rose from 5,177 to 5,504, with 5,211 employees now at bet365 and 293 full-time and matchday workers at Stoke City.
Sri and Gopi Hinduja and family are number one in the ‘Rich List’ with a worth of £28.472bn, an £11.472bn rise from 2021 thanks to their investments in industry and finance. Entrepreneur and inventor Sir James Dyson and family are second with £23bn.
Source: GMB
