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Meet the highest paid woman who earns three times more than the Apple CEO Tim Cook and Queen of England

Speed News Desk | Updated on: 28 November 2018, 14:07 IST

Denise Coates, who is the British founder and CEO of online bookmaker Bet365 Group Ltd. Coates, surprisingly, is more than 10 times richer than the Queen Elizabeth II and earns more than three times than Tim Cook, CEO, Apple Inc.

When the world is fighting against the gender based pay gap, Coates, paid herself a salary of 220 million pounds in 2017. Her 50% stake in the private family-owned online gambling business further earned her a 45 million pounds dividend. And with a total compensation of 265 million pounds, up 22% over her 2016 pay packet, Coates is the world's highest-paid female executive.

Tim Cook earns 80 million pounds for running Apple, the most valuable company after Microsoft in the world. She earned 25 times more than what BP boss Bob Dudley took home, The Guardian reported. In fact, the total compensation for the highest paid CEO in the US in 2017, Broadcom's Hock Tan, had reportedly stood at $103 million, or less than a third of Coates pay packet.

Her salary is not the only big number thrown up in Bet365's latest financial statements for the period ended March 25, 2018, released last week. The company's sports and gaming turnover jumped 26% to 2,718 million pounds, while operating profits increased 33% to over 682 million pounds.

That's very impressive for a company that started out of a Portakabin in the British city of Stoke-on-Trent in 2002. According to the report, Coates's father, Peter, the 80-year-old son of a miner, became a successful local businessman and owned a string of betting shops. But it was Coates, an econometrics graduate, who zeroed in on the jackpot opportunity that lay online.

After buying the Bet365.com domain name from eBay for $25,000, she borrowed against the bricks-and-mortar stores to develop sports-betting technology that soon left slow-moving rivals in the dust. The Coates family is now worth 5.8 billion pounds, surpassing Sir Richard Branson's empire.

First published: 28 November 2018, 14:07 IST