Betfair boss makes success list

[jetset]

Made it by 40

Today The Daily Telegraph reveals 2006's most successful entrepreneurs in Britain. Each has built a huge personal fortune before their 40th birthday through hard work, intelligence and apparently boundless enthusiasm.

05 (18)

Ed Wray

Age: 38

Business: Internet betting

Value: £240m (£120m)

Despite a traumatic year for the online gambling industry, Betfair, co-founded by Ed Wray, has galloped ahead of the field. Its website has struck a chord with punters who can bet against each other instead of accepting fixed odds from a bookmaker.

The former banker set up the site with Andrew "Bert" Black, a former professional gambler.

A decision to hold off from floating has paid off. Last year analysts were estimating the business to be worth no more than £1bn, but in April Japanese conglomerate Softbank paid £300m for a 23pc stake, valuing Betfair at £1.5bn.

http://www.telegraph.co.uk:80/money/...richlist13.xml