Bloomberg Billionaires Index

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# 445 Mark Scheinberg $4.05B

Random fact: Sponsors a variety of live poker tours.

Overview

Scheinberg was founder and former CEO of Rational Group, the Isle of Man-based business that owns websites PokerStars and Full Tilt Poker. Publicly traded Amaya Gaming Group, which had $1.1 billion of revenue in 2015, paid $4.9 billion in cash for Rational Group in June 2014. Scheinberg sold his stock and resigned two months later.

As of :
Last change No change
YTD change -$425M ( -9.5%)
Industry Entertainment
Biggest asset Cash
Citizenship Isle of Man
Age 46
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Mark Scheinberg's net worth of $4.05B can buy ...

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

Scheinberg's fortune is derived from the sale of a 75% stake in Isle of Man-based Rational Group, the owner of PokerStars, an online gambling company. PokerStars was sold to Pointe-Claire, Quebec-based Amaya Gaming Group for $4.9 billion in June 2014. Another $400 million was deferred, and would be paid after three years if the business hit predetermined performance benchmarks, according a Bloomberg News article about the acquisition published on June 13, 2014. This was paid in 2017, according to a person familiar with the company.

His ownership stake was provided by a person familiar with the company, who asked not to be identified because the information is private.

The sum of the proceeds that make up the billionaire's personal fortune is net of taxes. The top rate for Isle of Man residents is 20% and has an annual cap of 120,000 pounds ($200,000).

Scheinberg is also the founder of Mohari, a real estate investment company with a focus on luxury hospitality. Mohari purchased a 50% stake in the Centro Canalejas Madrid in 2017 for 225 million euros ($240 million). In the same year it also acquired the Thompson Toronto Hotel for $77 million CAD ($60 million), and Peninsula Papagayo, in partnership with real estate developer Gencom, for more than $250 million.

Biography

Birthdate: 12/27/1973
Family: Single, No children

Mark Scheinberg was born in 1973 and grew up in Israel before moving with his family to Canada in the 1980s. He founded PokerStars in 2001 and together with his father, Isai, built the company into the world's largest online poker site.

PokerStars, along with competitor Full Tilt Poker, was charged with fraud, money laundering and violation of United States federal gambling laws in 2011. PokerStars agreed at the time to forfeit $547 million to the U.S. and pay an additional $184 million owed by foreign players of Full Tilt Poker, whose assets it acquired. The company did not admit to any wrongdoing. Scheinberg concurrently came to a separate agreement with government authorities related to potential civil claims over gambling regulations, again without any admission of wrongdoing.

The billionaire was chief executive officer and majority shareholder of Isle of Man-based Rational Group, the company that controlled PokerStars. Rational had $1.1 billion of revenue in 2013 and was sold to Pointe-Claire, Quebec-based Amaya Gaming Group for $4.9 billion in August 2014.

Milestones
  • 1973 Mark Scheinberg is born.
  • 2001 Starts Pokerstars.
  • 2011 Father Isai is charged with bank fraud by U.S. Justice Department.
  • 2012 Pokerstars pays $731 million to settle U.S. charges, admits no wrongdoing.
  • 2013 Pays $50 million in related U.S. money laundering case. Admits no wrongdoing.
  • 2014 PokerStars reaches more than 85 million registered users.
  • 2014 Amaya Gaming Group agrees to buy Pokerstars for $4.9 million in cash.
  • 2014 Sells his stock and leaves the company.