bet365 boss pays herself £265 MILLION

BoyceyLDN · 21 Nov 2018 at 15:21

https://www.bbc.co.uk/news/business-46289499
https://www.theguardian.com/busines...e-coates-paid-herself-an-obscene-265m-in-2017

Luke Hildyard, a director of the High Pay Centre, said: “Why does someone who is already a billionaire need to take such an obscene amount of money out of their company? It is difficult to find a reason beyond pure greed.

“A payment of this size would be impossible to justify for someone whose business was in unquestionably life-enhancing products or services. It is doubly offensive when awarded to a betting company CEO at a time when problem gambling is spiralling out of control.”

Just wanted GD thoughts on this, is it a case of she earned it so why not? or should there be something in place to stop someone earning so much, i mean i can not think of a reason she can justify her salary, even if you took a 0 of the end and it was 26.5 million that is more money than most will earn in their lifetime.

doodah · 21 Nov 2018 at 15:26

I really hate stories like this....

Why does someone who is already a billionaire need to take such an obscene amount of money out of their company? Luke Hildyard, a director of the High Pay Centre

Is she performing? Yes. Are they continuing to grow? Yes. Did what I presume is a board sign off on this? Almost certainly.

It's their business, simple. Nothing but jealousy drives debates/stories like this. And yes of course it's an obscene amount of money.

Sui · 21 Nov 2018 at 15:27

I saw this earlier, I think it gets to a point where she's taking money for the hell of it. Her base salary of £220mil is over £8mil a month after taxes (although this doesn't include any other deductions she might have going through), that's obscene. The question is, what do you cap it at and why should there be a cap? If the company has made that much money and they don't need to invest it, then distribute it. Maybe a nice staff bonus could have gone a long way to the people of Stoke.

All credit to her and her family for building such a massive profitable company, but I guess vices are an easy money maker to an extent!

AmyS · 21 Nov 2018 at 15:27

Nice work if you can get it.

touch · 21 Nov 2018 at 15:27

BoyceyLDN said:
should there be something in place to stop someone earning so much

There is: if you dont like the way a company operates, don't use their services. If others agree with you then that company wont have any money to pay out.

Rids · 21 Nov 2018 at 15:28

Its a company which she also has a massive ownership stake of, its her money, she can do whatever the **** she wants with it.

Radox-0 · 21 Nov 2018 at 15:28

She and her family it seems set up the company, drove it to growth so I say why not, pay herself as much as she wants as long as other parties are being paid there due (employees, tax etc).

Now of course for most that is an obscene amount of money and most will not make a fraction of that, but you can't put a limit on it and if you did, what would you put it at. Who would qualify as to what the cap should be etc.

robfosters · 21 Nov 2018 at 15:28

It’s her company, it’s her money.

As long as all the employees are happy with wages and working conditions then what the hell, take what you want.

iamdjdz · 21 Nov 2018 at 15:29

If I owned a large company with massive profit I'd take a large paycheck. And if I gave it all away or spent it all on vices would be my problem.

Jealousy abounds in that article.

G-MAN2004 · 21 Nov 2018 at 15:29

It's not as if she applied for the job of CEO and is getting paid that much. She owns the company itself, doesn't she? I'd be doing exactly the same.

PiKe · 21 Nov 2018 at 15:29

Should have paid herself £365 million.

doodah · 21 Nov 2018 at 15:29

Watch the issue around betting and its growing influence on children/vulnerable somehow get tied into her salary.

G-MAN2004 said:
It's not as if she applied for the job of CEO and is getting paid that much. She owns the company itself, doesn't she? I'd be doing exactly the same.

Yup, started in a car park I think. And they chose to stay in Stoke so are likely a huge employer in the area.

dowie · 21 Nov 2018 at 15:30

It is a private company that she and her family members own, she is the majority owner and the main reason for its success, she can pretty much pay herself what she likes.

robfosters · 21 Nov 2018 at 15:30

It’s probably the nature of the business that gets people’s backs up too. They feel she’s profiting off others misfortune and addictions.

Avenged7Fold · 21 Nov 2018 at 15:30

Is it fair that she earns that money?
Imo not really considering gambling companies are not really held as accountable as they should be but apart from that, i dont have a huge opinion of it. It is an obscene amount of money but it is more hers than anyone elses.

Can she do this?
I don't see why not. Her family built a gambling empire by using good networking, personal investment and knowledge of the industry.

The UK government should clamp down on gambling more but that is neither here nor there when it comes to discussing her earnings.

wedrum · 21 Nov 2018 at 15:31

OP find out where she lives, letterbox, you know the rest.

BoyceyLDN · 21 Nov 2018 at 15:33

doodah said:
I really hate stories like this....

Is she performing? Yes. Are they continuing to grow? Yes. Did what I presume is a board sign off on this? Almost certainly.

It's their business, simple. Nothing but jealousy drives debates/stories like this. And yes of course it's an obscene amount of money.

Just wanted to point out i'm not jealous (well a lil bit because who wouldn't want that money lol but not in a envy way) was just curious to see others views. Part of me is like good luck to her, part of me is like should she be giving more back perhaps? Not sure what the answer is.

doodah · 21 Nov 2018 at 15:33

Oh sorry, I wasn't aiming that at you lol. Just in general as it's an annual occurrence now.

It's a very strange notion people telling people what they should do with their own money. Imagine the clickbait types that will see this story - wonder how they would feel if people earning less than them started judging the way they spent their money and demanding they earn less, give more to charity. Very odd.

Avenged7Fold · 21 Nov 2018 at 15:35

BoyceyLDN said:
Part of me is like good luck to her, part of me is like should she be giving more back perhaps? Not sure what the answer is.

Back to who?

Mason- · 21 Nov 2018 at 15:35

Luke Hildyard, a director of the High Pay Centre, said: “Why does someone who is already a billionaire need to take such an obscene amount of money out of their company? It is difficult to find a reason beyond pure greed.

“A payment of this size would be impossible to justify for someone whose business was in unquestionably life-enhancing products or services. It is doubly offensive when awarded to a betting company CEO at a time when problem gambling is spiralling out of control.”

It's none of your ******* business. If you want that much money go and work your way up to CEO and work 70 hour weeks and spend no time with your family, otherwise shut up.

https://www.theguardian.com/society/2014/jul/11/bet365-denise-coates-charity-foundation

Oh look she gives loads of money to charity anyway. These people have never been about caring for the poor, they just pure and simply hate the rich.