⬅ # 528 Theo Mueller|# 530 Fred Smith

# 529 Mark Scheinberg 

$5.71B

Real Time Net Worth
as of 6/12/2024
$62 (0.00%)

# 529 Mark Scheinberg 

$5.71B

Real Time Net Worth
as of 6/12/2024
$62 (0.00%)
OccupationCofounder, PokerStars
Source of WealthOnline Gambling
Age50
ResidenceIsle of Man, United Kingdom
Marital StatusSingle
EducationDrop Out, Fanshawe College
Age-Adjusted Net Worth$11.2B
Mark Scheinberg
Mark Scheinberg
Canada
Net worth: $5.71B

Self-Made Score 

Wealth History

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Biography

Overview

Mark Scheinberg was born in Israel in 1973 and moved to Toronto, Canada with his family at the age of 13, settling in Richmond Hill in the 1980s.
He cofounded PokerStars in 2001 at the age of 28, alongside his father Isai Scheinberg, a computer programmer.
Scheinberg pocketed over $3 billion from the sale of PokerStars in 2014, where he owned 75% of the parent company Rational Group.

Career Highlights

Co-founded PokerStars in 2001, which became the world's largest online poker business and host to the world’s largest online tournament series.
Under his leadership, PokerStars acquired the Full Tilt Poker brand in 2012.
Exited PokerStars group upon its acquisition by Amaya Gaming Group for $4.9 billion in 2014.
Invested in luxury hospitality assets through Mohari, including a stake in the Ritz-Carlton Yacht Collection and a historic Madrid hotel.
Acquired Tao Group Hospitality in 2023, which operates over 80 restaurants and clubs globally.

Real Estate Investments

Through Mohari Hospitality, Scheinberg invested in Centro Canalejas Madrid, a real estate project involving the restoration of historic buildings for residential, hotel, and commercial use.
Purchased a 50% stake in Centro Canalejas for €225 million in early 2017, creating retail space and housing the first Four Seasons hotel in Spain.
Acquired Thompson Toronto hotel in downtown Toronto, Canada in September 2017, which features 105 rooms, event space, restaurants, and lounges.
Additional real estate investments include a luxury resort in Costa Rica.

Philanthropy and Personal Interests

In March 2020, Scheinberg and his family founded The Scheinberg Relief Fund, allocating $50 million to support COVID-19 relief efforts.
Scheinberg has a passion for conservation and animal welfare, supporting initiatives such as the Wildlife Ranger Challenge.

How long would it take you to become as rich as Mark Scheinberg?

If you started with $10,000 and invested an additional $500 each month at a 43.94% CAGR, it would take you 5 years to reach Mark Scheinberg's net worth of $5.71B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 43.45% compared to 12.43% for the S&P 500 benchmark.

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Mark Scheinberg is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Mark Scheinberg, Online Gambling is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey