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Betfair boss makes success list
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
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jetset |
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