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Mark Scheinberg: Billionaire Who Made His Fortunes From PokerStars

December 26, 2021
22,008 Views

Born in Israel on December 27, 1973, Mark Scheinberg is an Israel-Canadian business tycoon and PokerStars' co-founder and previous owner. Mark grew up in Israel and relocated to Toronto with his family when he was a teenager.

Mark started the PokerStars company at the age of 28 in 2001, alongside Isa Scheinberg, his father, a competent and well-known computer programmer.

PokerStars reaped the benefits of the poker boom that swept the United States and the rest of the world in the early 2000s. During Mark's tenure as the company's Chief Executive Officer, PokerStars grew to become one of the biggest online gaming companies globally, with over 50 million users and the home of the most extensive online tournament series.

PokerStars made about $500 million profit a year from $1.4 billion in revenue by 2010, and in 2012, PokerStars purchased the Full Tilt Poker company for $731 million.


Selling PokerStars

Amaya Inc, formerly known as The Stars Group, agreed to purchase PokerStars and its parent company in June 2014 for $4.9 billion in cash. On August 1, 2014, they finalized the deal. Mark left the PokerStars group after completing the sale as a billionaire.


Other Investments

After the PokerStars was sold, Mark had a lot of funds at his disposal. Mark's investment firm, Mohari Hospitality, invested in a real estate plan in Madrid, Spain, in 2017. Mohari paid €225 million for a 50% share in the Centro from Grupo OHL subsidiary, OHL Desarrollos, and industrial company Villa Mir, which retained stakes. As part of the project, historic buildings will be renovated for hotel, residential and business purposes.

Mohari Hospitality's Canadian affiliate also purchased the Thompson Toronto 1 hotel located in Toronto, Ontario, in September 2017.

Mark is also a co-owner of the Ritz-Carlton Yacht Collection company. Vacations are available on three custom-built yachts. Each yacht will feature 149 suites and will be available for private hire.

As of 2017, Mohari has invested US$700 million and is expected to have even more investments in the future.


Charity

In March 2020, Mark established the Scheinberg Relief Fund, which would provide funding to charities directly affected by the Covid-19 pandemic. The fund focused on medical equipment, masks, animal care, the elderly, and food assistance.


Mark's NetWorth

Mark is estimated to have a net worth of $5 billion and is the Isle of Man's wealthiest individual. Mark is ranked 574th among the world's billionaires by Forbes.

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