Mark Scheinberg: the billionaire who made a fortune …

Born in Israel on December 27, 1973, Mark Scheinberg is an Israeli-Canadian business mogul and co-founder and former owner of PokerStars. Mark grew up in Israel and moved to Toronto with his family as a teenager.

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

PokerStars reaped the rewards of the poker boom that swept across the United States and the rest of the world in the early 2000s. During Mark’s tenure as CEO of the company, PokerStars grew into one of the biggest online gaming companies in the world, with over 50 million users and the headquarters of the largest online tournament series.

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


Sell ​​PokerStars

Amaya Inc, formerly known as The Stars Group, agreed to buy 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 closing the sale as a billionaire.


Other investments

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

The Canadian subsidiary of Mohari Hospitality 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. Holidays are available on three custom built yachts. Each yacht will have 149 suites and will be available for private hire.

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


Charity

In March 2020, Mark created 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 aid.


Mark’s net worth

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

About Lillian Coomer

Check Also

Spotlight Partner With Dirk Kromm – Intellectual Property

Dirk Kromm started his career in intellectual property (IP) with a fascination with engineering and …