UK's richest woman earns three times more than Tim Cook despite massive 45% pay cut
Denise Coates, the UK's highest-paid woman, earned a total of £150 million in salary and dividends for 2024, despite accepting a 45% pay cut. This includes £94.7 million in salary, along with £64 million in dividends, attributed to her 58% stake in Bet365, the online gambling company she co-founded. Coates’ earnings still remain significantly higher than those of many global CEOs, including Apple’s Tim Cook, who earned $63.2 million in 2023, roughly a third of Coates' total pay.
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Bet365's Financial Growth and Recovery
Bet365, the online gambling firm founded by Coates in 2000, reported impressive financial growth over the last year. The company achieved a 9% increase in turnover, reaching £3.7 billion, up from £3.4 billion the previous year. Additionally, Bet365's pre-tax profit surged to £596 million for the year ending March 2024, a marked turnaround from the previous year's £72.6 million loss.
The company also made a £120 million contribution to the Denise Coates Foundation, a charitable entity under the family and employee control. This was a 20% increase from the £100 million donation made the previous year, demonstrating Coates’ ongoing commitment to social causes.
Coates’ Leadership and Business Success
Denise Coates’ immense wealth and business success stem from her leadership at Bet365, which she developed from a
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