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This text initially appeared on Business Insider.
Britain’s best-paid lady earned over $300 million final yr, greater than Blackstone’s Stephen Schwarzman, Alphabet’s Sundar Pichai, or some other CEO of an S&P 500 firm.
Denise Coates is the CEO and majority shareholder of Bet365, a privately held playing enterprise. Utilizing the present dollar-pound change charge, she obtained the equal of a roughly $280 million wage and no less than $60 million of dividends for the yr to March 2023, a Companies House filing exhibits.
For comparability, Schwarzman was paid $253 million final yr, whereas Pichai obtained $226 million in complete compensation, in response to the AFL-CIO rankings. Different high-profile CEOs earned far much less, together with Apple’s Tim Prepare dinner ($99 million), Microsoft’s Satya Nadella ($55 million), and JPMorgan’s Jamie Dimon ($35 million).
Coates’ payout rose by the pound equal of $10 million final yr, though Bet365 swung from an almost $64 million revenue to a $93 million pre-tax loss because it expanded internationally. The corporate additionally donated about $127 million to her charitable basis, matching its contribution in 2022.
The playing boss has obtained the equal of $1.3 billion in complete pay and dividends over the previous couple of years, together with $535 million in 2020. Forbes ranks her because the world’s 373rd richest particular person with an almost $9 billion fortune.
Non-public corporations are sometimes extra beneficiant than their public friends in paying their bosses and doling out dividends. Their compensation practices and broader company governance entice much less scrutiny, and so they do not face the identical threat of an activist investor constructing an fairness stake and pushing for modifications. Additionally, public corporations usually have boards that resolve CEO remuneration, whereas many bosses of personal companies are free to set their very own pay.
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