Denise Coates Net Worth: Denise Coates has a net worth of £5.8 billion. Denise Coates is a British entrepreneur who launched the online gambling behemoth Bet365. She is the co-CEO of the company (together with her brother, John), as well as the biggest shareholder (50.3%). She is the 52nd richest person in the tech industry, according to Forbes, with a net worth of $3.5 billion. This enormous personal fortune also makes Coates the 403rd richest individual on the planet.
Most people in the UK, however, would walk down the street and never see her. This is because the 49-year-old entrepreneur prefers to maintain a low profile and makes few public appearances. Interviews are also uncommon, and she has only spoken to the media a few times (and then only via email).
Despite her fiercely private personality, the purpose of this page is to provide a detailed biography of Denise Coates. We’ve gathered information from many places on the Internet in the hopes that it will create a good picture of where she’s been and where she’s heading.
But, before we get into Denise, let’s take a quick look at her father, Peter Coates, whose life is inextricably connected with hers.
Denise Coates Net Worth [year]
Ms Coates is the UK’s fifth richest businesswoman, trailing Marit and Kirsten Rausing, Charlene de Carvalho-Heineken, and Kirsty Bertarelli.
According to Forbes, Denise Coates has a net worth of £5.8 billion. This places her as the 52nd richest person in the technology business and the 403rd richest person on the planet. Her income is primarily derived from her betting company, which she worked hard to establish in her youth.
Despite the fact that she currently drives an Aston Martin, this millionaire entrepreneur does not flaunt her wealth.
Denise Coates Salary
Denise Coates is Britain’s highest-paid employee. She earned a whopping £469 million in 2021. Her pay as CEO is £421 million, and she controls 50.3% of the company’s equity, which is worth £48 million.
Denise Coates Sandbach House Cheshire
Her compensation made quite a stir in the business world, with many wondering why she would keep such a large portion for herself. However, it is said that she is constructing a luxury Sandbach House in Cheshire for herself. This glass home is worth £90 million and sits on 52 acres.
Early Life of Denise Coates
Denise Coates was born on September 26, 1967. She was born, and then she grew up. There is no proof that anything extraordinary occurred during those early years. If it did, Denise has been adamantly opposed to disclosing it to the public.
Denise enrolled at the University of Sheffield and studied Economics as her adolescence came to an end. While adjusting to collegiate life, she obtained work with the family business, marking up bets in the Provincial Racing cashier’s department.
During this time, she met Richard Smith, who would go on to become her husband. Denise graduated with a degree in econometrics after only a few years.
Denise returned to the family business, or “a small chain of pretty rubbish betting shops” after graduation. Her undergraduate experience had given her the means to assume a more active role, but she chose to further her education in the accounting department. She would subsequently agree that the choice was beneficial, despite her dislike for the dry nature of bookkeeping.
Her father, impressed with her abilities and hard ethic, eventually offered her the opportunity to run Provincial Racing. Despite the fact that the chain had been struggling in previous years, she happily accepted and was appointed Managing Director in 1995.
The Provincial’s bad luck was quickly rectified under her supervision. Not willing to sit still, she obtained a large loan from Barclays Bank and added a nearby chain of betting parlors to her family’s now-expanding company.
Fortunately, in the male-dominated world of UK sports betting, her gender was never a barrier.
Denise Coates A Private Personality
Denise Coates is not a public person, despite being a member of the UK’s financial elite. While her picture appears alongside different articles on Bet365, she rarely attends formal events and only conducts interviews via email.
Denise discussed her low-key approach in one of the few interviews she’s given over the years:
She and her husband, Stoke City Football Club director Richard Smith, live in a farmhouse in Sandbach, which is just outside of Stoke. Her mother and father live next door, and most people wouldn’t believe a billionaire lived in the neighborhood if it weren’t for the security guards and Denise’s sparkling Aston Martin automobile (one of her few pleasures).
She has refused to say whether or not she has children in interviews. Forbes magazine, on the other hand, describes her as a mother of five children, and UK documents show that four of these children were adopted from the same family. It is unknown if she adopted or gave birth to the remaining child.
Richard Smith and Denise Coates have five children. Four of their children were adopted under circumstances that have never been made public.
The youngsters had recently been adopted “from the same family,” according to the Independent in March 2014.
The Birth and Rise of Bet365
Denise Coates is the current betting leader at bet365. A company she started after years of managing her father’s betting store empire. At the age of 22, she took over her father’s business.
Bet365 arose from the desire to bring these small betting shops online after witnessing the internet’s exponential rise. Denise Coates began to suspect that the Internet was the wave of the future for sports betting around the turn of the century. There were already a few websites for those interested in placing virtual bets, but the entire sector was still in its infancy. Denise opted to go all in because she saw an opportunity to be on the cutting edge of something big while also massively growing the family business.
In the year 2000, she purchased the domain name bet365.com. She began by enlisting her brother, John Coates (an attorney at the time). When she realized she couldn’t afford to build the website, she started to seek funding, but no investor believed in her vision. She approached the Royal Bank of Scotland and was able to obtain an £18 million loan from the bank (using Provincial Racing as collateral) with which she started.
Bet365 was founded in 2001, and Denise worked tirelessly to attain her objectives. Denise recognized early on that Bet365 would need to take significant efforts to differentiate itself from its previously established online competitors. She took the following actions to do this:
- Visitors were informed that Bet365 was situated in the United Kingdom and had a number of physical sites that consumers could visit in person. This was especially critical because many online operators were based in foreign countries with little or no regulatory oversight.
- Bet365 now offers bingo, casino games, poker, horse racing, and much more in addition to online sports betting. As a result, the site became a one-stop gaming destination, and their business exploded.
- While competitors tended to focus on the major sports, Bet365 grew to include wagering on every conceivable league. Customers could visit the site and gamble on their favourite team or player in everything from snooker to American sports. Others would eventually adopt this strategy, but it’s worth noting that Bet365 was the first.
- Customer service was emphasized, as customer retention was discovered to be critical to the company’s long-term survival.
- The organization worked hard to build a reputation as a trustworthy gambling establishment. It took time, but Bet365 succeeded in avoiding any form of scandal or perception of shadiness.
- Also emphasized was creativity. From their renowned ads with actor Ray Winstone to frequent enhancements such as mobile and in-play betting, Bet365 has consistently remained one step ahead of the competition.
Bet365 was already thriving in 2005, so she took aggressive business initiatives. She sold Provincial Racing to Coral for about $50 million. She used this money to pay off her loan with the Royal Bank of Scotland. Bet365 had made over $187 million in profits by 2013.
Denise Coates is [get_age month=9 day=26 year=1967] old, she was born on the 26th of September 1967.
Her Love for Stoke-on-Kent
Denise Coates has had a special bond with the city of Stoke-on-Kent her entire life. It’s only natural, given that it was the home of both her father and grandfather.
Bet365 is still one of the city’s leading employers, employing an estimated 2,500 people, the majority of whom are locals. While the company’s formal headquarters moved to Gibraltar in 2015, their roots remain in the city where she was born.
This includes the local sports team, Stoke City Football Club, which is owned by Bet365. The club’s chairman is Peter Coates, while his husband, Richard Smith, is a director. Her brother is also invested in the franchise’s success, despite the fact that Denise has minimal involvement in the organization and rarely attends games.
The club’s ownership cost the firm more than $38 million in losses in 2015. While most CEOs would instantly dump such a financial weight, Denise appears glad to bear it, especially if it keeps the man in her life happy.
Denise Coates Foundation
The Coates family might have easily hoarded their money and refused to aid their fellow Britons once their empire was worth billions. This type of behavior did not sit well with Denise Coates, so in August 2012, she established the Bet365 Foundation, which she later renamed the Denise Coates Foundation. The foundation’s mission is to improve the lives of others, primarily by providing front-line support to numerous charities registered in the United Kingdom.