Author: Melanie Kramer

  • Making Money From eSports

    Making Money From eSports

    The rapid expansion of the eSports industry, including the growing millions of viewers who tune into to watch their favorite players battle it out, means there is plenty of money to be made from this lucrative new space.

    The opportunity eSports presents is not just one for the game creators or media giants, players and teams are set to make their fortunes too. That’s not all, a thriving new sector creates possibilities for startups, entrepreneurs, and investors.

    The sector is driven by, and for, the millennial and Gen Z generations, many of whom lean more to the space than to traditional sports, hobbies, or viewing.

    Kent Wakeford, Co-founder, and COO of the world’s 7th most valuable eSports company, Gen.G, told VentureBeat recently:

    “What you’re seeing is a tectonic shift in viewership and consumption from the millennials and Gen Z — gaming is the preferred entertainment.”

    The eSports industry is likely to generate around $1 billion dollars this year, a figure set to grow to $1.65 billion in 2019. By 2023 the value of the eSports industry could reach $2.17 billion. Wakeford’s company Gen.G is valued at $110 million.

    The U.S eSports Industry is Set to Grow

    Wakeford says that more than 22% of American millennials watch eSports, and that’s more than the number who watch Major League Baseball or the NHL. The total number of eSports viewers is around 300 million today and likely to grow by as much as 50% by 2019. Around 50% of eSports viewers live in the Asia-Pacific region, a further 15% in the U.S, and around 18% in the EU.

    “I believe that in the future we’re going to see viewership continue to grow and surpass traditional sports, including the NFL.”

    Prizes, Endorsements, Streaming, and Merchandising

    eSports players and teams are making their money from tournament prizes, sponsorship, and endorsement, as well as appearances and merchandising.

    Just a handful of Fortnite’s top players have earned a combined $1.2 million already in prize money and the top ten eSports companies and teams are worth a combined $1.5 billion.

    Nike recently sponsored it’s first eSports player, League of Legends player “Uzi.”

    Players can also earn as much as millions, and certainly thousands, from streaming their live play and other broadcasts on platforms like Twitch and YouTube. Tyler Blevins aka “Ninja” now earns more from streaming than he does winning tournaments and is worth around $10 million.

    eSports fans are engaged by the stories and daily lives of their favorite players. Celebrities like Ninja can make their fortunes, but amateur players can also make plenty of money through streaming and vlogging, taking advantage of the monetization opportunities of the web.

    Other players are paying their way through college by coaching online for popular game titles.

    Game Revenue, Live Events, Media Rights, Advertising and Big Buck Sponsorship Deals

    Event organizers, gaming companies, and rights owners earn millions from live events, sponsorships, and a very lucrative income from media rights.

    In January 2018 Overwatch League and Twitch signed a historic partnership which made sure the Overwatch tournaments were available to viewers around the world.  Overwatch creator Blizzard entertainment is worth around $18 billion. League of Legends, developed by Riot Games, is worth $15 billion alone significantly contributing to the overall value of Riot Games at $21 billion.

    Gen.G COO, Wakeford, expects media rights to be a key growth area for both big game leagues and for individual teams and players:

    “That’s a key area of differentiation from traditional sports, where esports teams are highly engaged and doing a lot of innovative content creation through streaming platforms.”

    Sponsorship deals, as well as the number of opportunities, are becoming more profitable too, Wakeford explained why:

    “Well-known Fortune 500 brands and marketers coming into the space.”

    These brands are beginning to understand the eSports industry and the scope it presents for sponsoring teams and players, as well as live events with audiences set to rival traditional sports.

    Mastercard became the first global sponsor of League of Legends in September 2018, joining other big name sponsors who have committed at a regional and national level including Mercedes Benz, Doritos, Gillette, and Adidas.

    Spin-Off Opportunities

    This burgeoning industry is creating eSports cities, jobs, inspiring startups and entrepreneurs, and even reviving traditional sports as this sector learns from eSports how to engage the millennial and Gen Z generations.

    Let’s not forget too, the impact on game development and the wider video game industry. eSports may be dominated by brands like Epic Games and Riot Games but independent developers publishing directly to the web and app stores have an enthusiastic gaming audience to lever too.

  • Japan’s Richest Have the Most Wealth in Asia, China and India are Gaining  

    Japan’s Richest Have the Most Wealth in Asia, China and India are Gaining  

    Japan has more of the Asia-Pacific region’s wealthy than any other country. China, however, is quickly catching up and India is beginning to make its mark in the region’s richest wealth statistics.

    The latest Asia-Pacific Wealth Report from Capgemini reveals where the Asia-Pacific region’s richest people’s wealth lies, and which countries are leading in the latest figures.

    The wealth of Japan’s high-net-worth individuals (HNWI) grew from $4.1 trillion in 2010, to $7.7 trillion in 2017, that’s growth of 87%. China is chipping away at Japan’s lead with growth of 144% since 2010 taking the wealth of its richest from $2.7 trillion, to $6.5 trillion in 2017.

    One of many reasons for China’s wealth growth is the volume of “unicorn” companies, startups that have achieved a value of $1 billion or more. The number of “unicorns” in China has reached at 181, surpassing the U.S with 138. Overall economic growth in China has, however, hit a ten-year low and the number of billionaires in the country dropped below 2,000 in October 2018, for the first time since 2015.

    Asia Pacific Wealth Source: Capgemini

    Capgemini expects the rapid wealth growth of the Asia-Pacific region’s high-net-worth individuals to continue to grow. In 2017 the combined value of the region’s richest was $21.6 trillion, this could be as high as $42 trillion by 2025.

    The value of South Korea’s wealthy grew by 18% in the period 2010 to 2017, Hong Kong’s richest by 16.3% due to a thriving real estate market, and Singapore had 13% growth. Capgemini says:

    “Mature markets like South Korea, Hong Kong, Taiwan and Singapore also saw double digital HNWI population growth, adding 88.2 thousand HNWIs collectively in 2017.”

    All in all, the Asia-Pacific region now contributes over 41% of all new high-net-worth individuals globally.

    India’s Wealth is Also Growing Fast

    “Emerging markets drove more than half (52.9 percent) of regional new wealth growth, with India’s growth of more than 20 percent in both wealth and population, making it the fastest growing region.”

    As also the world’s fastest-growing economy India will significantly contribute to the Asia-Pacific region’s wealth growth. It’s richest were valued at $0.6 trillion in 2010, in 2017 that rose by 22% to $1.1 trillion.

    A Harvard University report recently predicted that India will continue to be one of the fastest growing economies in the world for the next decade, ahead of China and the U.S.

    Growth for 2018 is expected to be around 7.3%. India is proving that it is able to diversify its industrial, agricultural, and manufacturing base to quickly take advantage of new sectors. There are a number of major growth areas for India, all sectors to watch for entrepreneurs and investors inside and outside of the region.

    The Forbes India Leadership Awards (FILA) 2018 just a week ago honored some of India’s millionaires and billionaires. Again, a significant theme for the event and its winners was the ability to change and adapt long-standing industries and companies to survive in the 21st Century.

    Featured image from Shutterstock.

  • FAANG Stocks Are Yesterday’s News: 5 Emerging Technology Markets to Watch

    FAANG Stocks Are Yesterday’s News: 5 Emerging Technology Markets to Watch

    Forget fluctuating FAANG stocks, here are five emerging technology markets valued in the billions that investors and entrepreneurs should take note of.

    The World Economic Forum (WEF) says we are entering the Fourth Industrial Revolution, an age characterized by the internet of things (IoT), artificial intelligence (AI) and machine learning, virtual reality (VR), and blockchain technology.

    Accompanying these core sectors are other emerging and arriving technologies like robotics, electric vehicles, autonomous vehicles, 3-D printing, nanotechnology, biotechnology, and quantum computing.

    The way we work and play is changing, creating even more new avenues for savvy fourth age industrialists like cloud computing, the decentralized web, and even eSports.

    For the everyday opportunist here are five emerging technology markets and their potential market values.

    The Internet of Things (IoT)

    One of the biggest growth markets for emerging technologies, the global IoT market, could reach $1.1 trillion in 2021 and $6.5 trillion by 2024.

    The IoT, where all our devices communicate with each other and ourselves using sensors, Wi-Fi, and even blockchain technology is prevalent in our lives already and increasingly so.

    Smart products like thermostats, lighting and media systems, as well as systems like Amazon’s Alexa, are already in widescale use. In 2017, 430 million smart home devices were sold.

    It’s not just consumer markets here either, the ability of machines to sense, record, deliver, and even act, upon important environmental changes has tremendous application for industry and manufacturing. One sector, automotive fleet management, is expected to be worth $17 billion alone by 2025.

    Artificial Intelligence (AI)

    Gartner, earlier this year, put the value of the AI market at $1.2 trillion in 2018, and $3.3 billion by 2022. John-David Lovelock, research vice president at Gartner said:

    “AI promises to be the most disruptive class of technologies during the next 10 years due to advances in computational power, volume, velocity and variety of data, as well as advances in deep neural networks (DNNs).”

    “Virtual agents” like call center and help desk assistants already account for 46% of the AI-derived business value in 2018, though this falls to 26% by 2022 as more advanced AI technologies come in to play. These more advanced technologies include decision automation and will include the AI needed to effectively power the autonomous vehicle revolution.

    Forecast of Global AI Derived Business Value in US Billions Source: Gartner

    Virtual Reality (VR)

    The consumer virtual reality software and hardware market size by 2021 is predicted to reach $14.5 billion rising from a predicted $3.3 billion in 2018.  The entire VR and augmented reality (AR) market is predicted to grow from $27 million in 2018 to $209 billion by 2020. Though other predictions put this figure at a more conservative $170 billion by 2022.

    The difference between consumer and industrial value is driven by the benefits VR and AR could have for the manufacturing, healthcare, and retail sectors, amongst others. A study by Hampleton Partners named AR and VR in healthcare the hottest new sector for 2018.

    Statistic: Forecast augmented (AR) and virtual reality (VR) market size worldwide from 2016 to 2022 (in billion U.S. dollars) | Statista
    Find more statistics at  Statista
    The consumer VR market value is driven by gaming and entertainment applications, from virtual meet-ups and social lives to exploring the globe and beyond.

    The global gaming industry is expected to reach a value of $180 billion by 2021 off the back of nearly 3 billion “gamers.” The eSports industry alone is expected to make up $1.65 billion of that statistic.

    Blockchain Technology

    The value of the cryptocurrency market is incredibly difficult to predict with the recent price crash taking tens of billions from the market’s capitalization, now sitting around $122 billion today.

    Cryptocurrency’s underlying technology, however, has taken an industry segment all of its own, over and away from cryptocurrencies. Global banks, businesses, and governments seek to take advantage of blockchain’s potential to improve business efficiencies, cybersecurity, and contractual transparency.

    Statista predicts blockchain’s market value to reach $2.3 billion by 2021.

    Autonomous Vehicles

    An immediate comparative figure for 2021 is not apparent for autonomous vehicles. Other statistics reveal the autonomous, or self-driving vehicle market, will already be worth $54.23 billion in 2019 increasing to a massive $556.67 billion by 2026.

    Autonomous vehicles will combine electric vehicle technology, AI, and IoT, and potentially even blockchain’s smart contract capabilities to share and secure information. A report by Allied Market Research identified the key drivers of the market’s predicted boom including:

    “Elimination of accidents caused due to manual errors, reduced carbon dioxide emission from autonomous vehicle … less battery capacity & less consumption of gas by autonomous vehicle and high penetration in the automotive sector also contribute to the market growth.”

    The market is not without barriers though, the general public is nervous about putting their lives in the hands of computers and trusting artificial intelligence to make the right decision under the threat of a road accident. A survey in late 2017, by the AAA found 63% of respondents were untrusting of autonomous vehicles, by early 2018 this had risen to 73%.

    Another study by Intel and Strategy Analytics predicts the driverless vehicle industry will generate $7 trillion worth of economic benefits and efficiencies by 2050. This figure could be split into a $4 trillion value for the driverless ride-hailing industry, and $3 trillion for driverless delivery and business logistics.

     

  • Microsoft’s Value Momentarily Overtakes Apple’s for First Time in 8 Years

    Microsoft’s Value Momentarily Overtakes Apple’s for First Time in 8 Years

    The ups and downs of FAANG stocks alongside what seems like a change in strategy for Apple have yielded another unexpected market result. Microsoft’s overall value yesterday surpassed that of Apple for a short time, and for the first time since 2010.

    Microsoft’s market capitalization at $812 billion yesterday at one point was greater than Apple’s. By the end of the trading day, Apple had recovered its lead with a market capitalization of over $835 billion.

    The unanticipated shift was made even more so considering the two-technology behemoth’s values just a few months ago.

    Apple became the first U.S company to achieve a whopping $1 trillion market valuation, with a wide lead over Microsoft which was at the time valued at around $887 billion.

    Apple’s Share Price Has Declined

    Fears of slowing demand for Apple’s iPhones are not helping Apple’s valuation. The price of iPhones has been gradually increasing, with new September 2018 prices even higher than expected by Wall Street traders.

    Bank of America analyst Wamsi Mohan predicted in September:

    “Although investor expectations are for some moderation in pricing for 2019 models, we expect Apple to continue to price the iPhones for value, which should drive upside to consensus estimates.”

    The belief at the time was that higher phone prices would trigger better share performance. New iPhone pricing was revealed on September 12, 2018, and after a slight dip, share prices peaked on October 3, 2018, before declining ever since.

    Apple Share Price Source: Google

    Mohan, speaking in September said this:

    “If perceived higher pricing is interpreted as a negative post event and the shares pull back, we would see that as a particularly attractive opportunity to buy the stock.”

    Apple’s share price has now fallen more than 20% since October 2018, with now only 2.3% growth seen for Apple in 2018 overall.

    The decline could be fuelled by a number of factors. Apple’s latest sales figures are relatively flat, with the addition of concern over higher per-product prices. If the global economy starts to struggle consumers are less likely to choose higher priced and luxury products.

    Apple has also indicated that Apple services including ApplePay, Apple Music, and the App store will be a growth area, but its plans aren’t immediately apparent or effective in the eyes of investors.

    Carolina Milanesi analyst at market research firm Creative Strategies told the BBC:

    “If we know that sales for the iPhones are going to be either flat or down and then there’s nothing else to compensate that, then of course there are reasons for concern but I think it’s too early…In a year’s time, if we don’t see the services business pick up in the way we expect, then I think the concerns could be legitimate.”

    Lastly, Apple is impacted by global market concerns, not just the threat of recession and the fluctuations of technology stocks, but also trade tensions. China, and the greater China region, including Hong Kong and Taiwan, forms around 20% of Apple’s market for sales.

    Cloud Computing Could Sustain Microsoft

    Microsoft, in comparison, is still seeing sales growth mainly due to its cloud-computing focus. The Microsoft Azure platform’s success has slowed compared to the last two years, but annually revenue figures from the division are still up 76% across 2018.

    Microsoft Share Price Source: Google

    Microsoft shares have fallen, down around 8% from September 2018, but that’s not quite the decline experienced by Apple. A performance that has allowed Microsoft to close Apple’s lead by company market value and indeed overtake that lead for the short period yesterday.

    The cloud services market could continue to fuel growth for Microsoft and its Azure platform, allowing it to continue to more successfully compete with Apple by market capitalization. Analysts, in October 2018, said Microsoft and rival Amazon’s shares were still a good bet off the back of the cloud computing market.

  • Forget Blockchain or Smart Cities, You’ll See an eSports City First

    Forget Blockchain or Smart Cities, You’ll See an eSports City First

    In truth, eSports cities are just as likely to combine internet of things (IoT), artificial intelligence, and blockchain technology as it progresses, but the first entire eSports town has already opened in Hangzhou, China.

    After a $280 million investment by the Hangzhou government the eSports town, operated by the government and covering over three million square feet has now open to the public.

    It’s the largest project of its kind in China to date but Hangzhou has also promised a further $1.26 billion to 14 further eSports projects including an eSports training academy and a hospital focusing on eSports players.

    The town will be home to Allied Esports and LGD Gaming and the League of Legends Pro League (LPL) in China. The two firms agreed a partnership earlier this year to build their specialist venue and the LGD Gaming management team will be moving to the eSports town. LGD’s eSports team has already won over $10 million in prizes and are rated 4th in the world globally.

    Allied eSports also has venues in Tianjin, Shenzhen, and Beijing, as well as the HyperX Esports Arena Las Vegas.

    The Hangzhou government expects the new high-tech town to attract more than 10,000 eSports professionals and players as well as $140 million in estimated tax revenues.

    Hangzhou will also play host to the 2022 Asian Games, likely to include eSports as a medal event alongside traditional sports for the first time.

    eSports at the Olympics

    The International Olympic Committee approved eSports as a real sport in November 2017, and it emerged in April 2018 that the Paris 2024 Olympics’ organizers were discussing the inclusion of eSports as a demonstration event for 2024.

    The biggest concern over the inclusion of eSports in such as massive event as the Olympics is the potential promotion of violence. Most of the popular eSports titles do involve in-character fighting, killing, and aggression.

    Paris too hopes to become an eSports hub for Europe. International Esports Federation acting secretary general Leopold Chung speaking in April also said:

    “There are great engagement numbers, great fan numbers who live in France and especially in Paris, who would definitely want to come to an esports game.”

    Largest Arena in North America

    This weekend also sees the opening of the eSports Stadium Arlington, Texas, U.S, now the largest eSports facility in North America. The 100,000 square foot stadium is owned by the city of Arlington and cost $10 million to build at the Arlington Convention Center.

     

    The site will be managed by NGAGE eSports, part of Infinite Esports & Entertainment. NGAGE founder Jonathon Oudthone said:

    “Maybe we’ll take over the old [Texas] Rangers stadium one day.”

    The stadium will see 30-50 eSports events per year with the eSports team from the University of Texas at Arlington, one of the top U.S college teams having its own room in the arena. The facility will also be open to the public daily for gamers to play on dedicated computers in the lobby.

    California is also home to a number of key eSports destinations including in Los Angeles, there is a dedicated eSports arena planned for Orange County, and the state is home to Riot Games and Blizzard. The University of Southern California last week announced the launch of the USC Esports Union.

    Elsewhere around the globe Seoul, South Korea, is home to a dedicated eSports stadium at iPark Mall and Sangam Stadium hosted the League of Legends World Championships. The latter event in 2014 saw 45,000 attendees.

    Cologne in Germany hosts many tournaments and is one of the biggest sites for League of Legends events. Stockholm, Sweden, also hosts many events including the world’s largest LAN occasion, Dreamhack.

    The global market for blockchain technology is predicted to reach $2.3 billion by 2021. For IoT the predicted value by 2021 is $1.1 trillion. For artificial intelligence, the market value could reach $3.3 billion by 2021.

    The predicted value of the eSports industry, is an estimated $1.65 billion for 2021 with an estimated audience of 427 million consumers by 2019. eSports is already here, and although it will incorporate today’s emerging technologies, gaming technology is ready. With a focus on the consumer market, eSports towns and even cities for fans and players are already appearing.

  • FILA 2018: Indian Entrepreneurs and Millionaires of Today and Tomorrow

    FILA 2018: Indian Entrepreneurs and Millionaires of Today and Tomorrow

    The Forbes India Leadership Awards (FILA) 2018 ceremony held at the Trident in Mumbai, November 23, recognized the outstanding CEOs and entrepreneurs in the world’s fastest growing economy.

    Some are already millionaires and billionaires, others are just beginning their entrepreneurial journeys, including teenagers as young as 13 who received a standing ovation for their success at such a young age.

    Here are a handful of the FILA 2018 award’s featured entrepreneurs and winners from the event’s nine categories well worth a mention.

    Harshwardhansinh Zala – Age 15 – Founder of Aerobotics7 Tech Solutions

    Harshvardhan Zala Image Source: Forbes India

    Zala, has invented a drone that can detect and detonate landmines, still a major cause of death and injury in many war-torn countries, affecting 26,000 people each year. The device uses multi-spectral detection to identify both metal and plastic landmines, and other ordnance and explosive devices. Zala told Forbes India:

    “We can detect explosive devices, track their location and detonate them with our wireless detonator, averting any human risk.”

    The EAGLE A7 drone (Escort for Attacking on Ground & buried Landmines as Enemy by Aerobotics7) took three years to develop and is 91-93% accurate. Zala is filing five international patents to protect his technology.

    Even though his early access to the internet during the research of his projects was limited, Zala persevered and he’s now visited Silicon Valley and Google and had multiple university place offers from around the world. Aerobotics7 now employs over 30 staff but the product is not yet in full-scale production, it will be presented to the Indian Army this year. Zala is reported as saying:

    “Never underestimate yourself… If you want to change something, do it even if it is impossible for the world.”

    Azim Premji – Net Worth $20 Billion

    Azim Premji Image Source: Forbes

    The 73-year-old billionaire won the FILA 2018 lifetime achievement award for his transformation of a vegetable oil company into the IT enterprise Wipro and then his philanthropic activities over the last two decades. Premji left Stanford University and his studies to take over the family cooking oil business when his father died in 1966.

    He expanded into software and then computer products and Western India Vegetable Products Limited became Wipro Products Limited. Wipro now has an innovation center in Silicon Valley focused on new technology and collaborating with startups. It won a $1.6 billion contract from Alight Solutions, Illinois, U.S, in September 2018.

    Premji founded the Azim Premji Foundation in 2001 with a vision to improve universal education systems and schools in India, particularly in rural areas. In 2010 Premji pledged $2 billion to improve education in India, the largest donation of its kind in the country.

    Vivek Chaand Sehgal – Net Worth $5.2 Billion

    Sehgal is chairman of the Samavardhan Motherson Group, founded in 1975. The businessman won the FILA 2018 entrepreneur award for taking the company to its status as the 23rd largest auto parts company in the world. He’s led 20 acquisitions for the firm in the past 15 years and the company adjusts its strategies to cope with the evolving global economy and automotive marketplace.

    The Samavardhan Motherson Group generates revenues of over $10.5 billion, partners with Japan’s Sumitomo Wiring Systems, and has 250 factories and operations in 41 different countries. Its clients include Volkswagen, BMW, Mercedes, Ford, and Toyota.

    According to Forbes, Sehgal is 21st on India’s Richest 2018 list and the 289th richest billionaire in the world. Sehgal, at 62, is Indian-born but has Australian nationality.

    Adar Poonawala – Net Worth Unknown

    Ada Poonawala is the 37-year-old son of Indian billionaire Cyrus Poonawalla who has a net worth of $7.9 billion.

    Cyrus Poonawalla founded the Serum Institute of India in 1966, now one of the world’s largest vaccine makers, producing 1.5 billion doses to protect against diseases like measles, polio, and influenza. The company owns Bilthoven Biologicals and the Czech based unit of Nanotherapeutics.

    Adar Poonawala is now CEO to the Serum Institute, winning the FILA 2018 GenNext entrepreneur award, given to heirs of family businesses in India.  He’s seeking to grow the low-cost vaccine manufacturer to more than twice its current size by 2022.

    The Serum Institute was critical in the mid-2000s and onwards producing low-cost vaccines which have helped to almost wipe out the meningitis-A virus in much of the sub-Saharan region. Bill Gates said of the Serum Institute in 2012:

    “[SII’s] contribution to global health has been phenomenal.”

    Adar Poonawala said of the business and his father’s aspirations:

    “My father’s vision was always to provide low cost, yet high quality vaccines to the masses.”

    The Serum Institute keeps its profit margins low and supplies vaccines to the Indian government and organizations like Unicef and the WHO. Adar Poonawala told Forbes India:

    “Children will be vulnerable if we don’t provide the vaccines to immunise them.”

    He also claims that two out of three immunized children around the globe have been administered Serum Institute vaccines.

    Adar Poonawala was named one of the Heroes of Philanthropy 2016 for donating $15 million to clean up Pune city, near Mumbai.

    One thing that was clear from FILA 2018 is that India’s thriving, and growing, economy is being driven by many committed entrepreneurs young and old as well as companies which are able to diversify to continue the country’s growth.

    Diversification is a key strength of India’s economy, making India a land of opportunity with a number of important sectors worth monitoring for entrepreneurs and investors.

    Featured image from Shutterstock.

  • How the World’s Highest Paid Woman Denise Coates Earned More than Apple’s Tim Cook

    How the World’s Highest Paid Woman Denise Coates Earned More than Apple’s Tim Cook

    Denise Coates, co-CEO and founder of UK betting firm Bet365 earned $279 million in 2017 alone, making her the highest paid executive in the UK, and the highest earning female CEO in the world.

    The $279 million outstrips Apple founder Tim Cook’s salary for 2017 at just $12.8 million. Coates also earned a $57 million in dividends from her 50% stake in Bet365, which is not a public listed company.

    The 51-year-old executive, mom to four adopted children, has a net worth of $3.6 billion. In comparison, the net worth of the iconic Apple CEO Cook pales at $625 million off the back of his $1 trillion-dollar computing and mobile phone business.

    Coates was also named 388th on Forbes Billionaires list for 2018 and 69th in the Richest in Tech 2017 list. A trained accountant, she took over some of her family’s betting shops in the UK before selling them to then betting giant Coral. Coates went on the launch the Bet365 website in 2000, a website that generated $3.2 billion in revenue in 2017.

    The gambling market in the UK is 32% of the global gambling industry and the largest country market in the world, one that generated $17.7 billion in the year to September 2016. In the 12 months leading up to March 2017, Bet365 generated $2.8 billion, illustrating its massive market share of the UK and global betting market.

    An Irresponsible Salary?

    With “problem gamblers” costing the UK government up to $1.5 billion per year in 2016, according to GambleAware, the salary of Coates draws attention.

    UK Liberal Democrat political party leader Vince Cable described the CEO’s earnings as

    “Irresponsible and excessive.”

    Cable believes the gambling industry needs much tighter regulation, something that could restrict Bet365’s and in turn Coates’ earnings, of the high industry salary he added:

    “In any circumstance it is hard to justify, but more so given the money comes from people struggling with compulsive gambling.”

    Others have stepped up on Twitter to defend Coates, according to CNN reporting, pointing to the work of the CEO and her Stoke-On-Trent, UK, based business.

    Coates is one of the more private global high earners, she gained a degree in Econometrics from the University of Sheffield before beginning at the bottom in her family’s betting shop business. She learned accountancy and eventually took over the company, Provincial Racing, as Managing Director in 1995. She turned around the business, expanding by acquiring a neighbouring betting business.

    A Gamble on Gambling…

    Speaking in a past interview when questioned on her role in the male-dominated betting industry Coates said:

    “I never gave it a second thought. It didn’t cross my mind. I probably had a few [meetings] at first where I had to put somebody right – but I knew my business, so it wasn’t a problem. I just wanted to get on with making my business successful.”

    When launching Bet365 Coates obtained a loan, using her family business as collateral, a gamble on internet-based betting, which of course has now paid off. Coates reportedly said:

    “We knew the industry required big startup costs but… we gambled everything on it. We were the ultimate gamblers, if you like.”

    Honoured by the Queen

    Though Coates’ salary has been criticised it’s hard to deny the CEO has both worked her way up and worked hard to launch an extremely successful business. Like many successful business founders, she has worked around the clock. Coates has said:

    “You start a 24/7 business and you work 24/7. When you’re not here [in the office], you take calls in the middle of the night, regularly – that’s how the early days were. I’ve worked harder than you can possibly imagine.”

    Coates formed her charity, The Denise Coates Foundation in August 2012 which has donated the equivalent of $128 million to twenty causes in the UK and abroad, including to cancer charities and hurricane relief programmes.

    She’s also brought 3,000 new jobs to an area of the UK that declined dramatically in recent decades. Coates was awarded a “Commander of the Order of the British Empire” (CBE) in 2012 for services to the community and to business and has also been awarded an honorary doctorate from Staffordshire University.

    Apple CEO Cook is unlikely to begrudge Coates her success. He has the most profitable business in the U.S, one that brought in more than $49 billion in net income in 2017.

    Cook says he is not motivated by money and has plans to donate much of his wealth. He appears to be shifting to becoming a consumer data champion, calling for EU style GDPR laws in the US to protect individuals data from big tech oligopolies just like his own.

  • World’s Richest Golfers Phil Mickelson and Tiger Woods Showdown in Vegas for $9 million

    World’s Richest Golfers Phil Mickelson and Tiger Woods Showdown in Vegas for $9 million

    The world’s two highest-earning golfers will play it out at the luxury Shadow Creek Golf Course in Las Vegas on November 23, 2018.

    In a winner-takes-all clash one of the two already multi-millionaires will win $9 million in prize money provided by sponsors.

    Phil Mickelson Tiger Woods Source: Reuters

    Woods’ is worth an estimated $740 million and Mickelson an estimated $375 million. Both earn over $40 million per year in pay with Woods earning a further over $40 million and Mickelson $37 million in sponsorships and endorsements each year.

    The golfers faced off this week, boxing style, in a broadcast encounter where Mickelson challenged Woods’ to a wager:

    “$100,000 says I birdie the first hole.”

    Woods quickly responded to the challenge with:

    “Double it.”

    It’s estimated the side-bets could reach $2 million and are likely to be donated to charity. Both were pictured by Bleacher Report with stacks of cash.

    On Twitter the match is drawing criticism, according to RT, with the pair being called “rich snobs” and the millions up for grabs for already wealthy sports celebrities drawing comments like “obscene” and “poor taste.” Others are calling for the winnings to be donated to charity.

    Though the Thanksgiving clash has been scheduled to draw attention to the game, the play-off between two of the games seasoned professionals, rather than today’s latest golfing stars, is also criticised. Golf icon Gary Player told The Times:

    “Frankly, I don’t think Tiger v Phil is either relevant or cause-related at all. What a lost opportunity for golf.”

    Tiger Woods – Net Worth – $740 million

    Tiger Woods Source: Forbes

    Woods, aged 42, returned to the game on a high in 2018 to win his first tournament in five years at the Tour Championship, moving back to 13th in the Official World Golf Rankings.

    He became a professional golfer at the age of 20 and less than a year later had taken the top spot in the world rankings.  He’s been World Number One for the most consecutive weeks and for the highest number of weeks than any other golfer. Woods is the second highest-paid athlete of all-time, according to Forbes, with estimated total earnings of $1.7 billion.

    The pro-golfer, real name Eldrick Tont Woods, has been sponsored by Nike since turning professional, signing his latest $200 million deal with the sportswear brand in 2013.

    Phil Mickelson – Net Worth – $375 million

    Phil Mickelson: Source Forbes

    Mickelson, at 49, is the 6th highest paid athlete of all time according to Forbes with estimated total earnings of $815 million. He’s won 43 events on the PGA tour including five major championships. Mickelson has spent over 700 weeks in the top ten of the Official World Golf Rankings achieving 2nd place twice. He became the face of amateur golf in the U.S in the early 1990’s and turned professional in 1992. Mickelson has endorsement and sponsorship deals with Callaway, Barclays, KPMG, Exxon Mobile, Rolex and Amgen.

    Mickelson believes the $9 million prize pot adds to the competition giving it the feeling of a major championship, reports the Express:

    “We don’t have the history of a Masters or a major championship, which is why the (prize figure) had to be so high because that creates an uncomfortable environment for us and creates pressure.”

    “The Match” takes place Friday, November 23, 2018, Woods’ has said of his long-term rivalry with Mickelson:

    “We’ve gone at it for over two decades and we’ve had our moments where there’s either been a regular tour event or major championship where we’ve gone toe-to-toe with each other.”

    The bookies odds are currently on Woods to walk away with the $9 million, with Betfair offering one-to-two odds on the player.

    Also this week, after years without success, Japan has secured its first PGA Tour golf tournament to the delight of Japanese fans and sponsors.

    Featured image from Shutterstock.

  • Open Tournament Fortnite Winter Royale Begins this Weekend with $1m in Cash Prizes

    Open Tournament Fortnite Winter Royale Begins this Weekend with $1m in Cash Prizes

    Epic Games’ Fortnite has today announced its next competition – the Winter Royal Online Tournament.

    The latest tournament is open and part of Fortnite’s ever-improving Online Tournament system. Its Solo events will consist of the Winter Royale Qualifiers and the Winter Royale Finals, the finals will have the $1 million total prize fund for the event.

    Winter Royale is for Everyone

    The great thing about Winter Royale is that anyone can play, new or experienced players, and you don’t have to have your own squad of players or team up with other random players. This tournament is entirely on your own merit so a fantastic chance to get practicing and take a shot at some big prize money.

    Epic has been improving the Fortnite “matchmaking” system, now player’s points totals are taken into account, so players will be pitted against those with similar abilities. Again, perfect if you are a newbie but as you improve the game will get more difficult.

    Fortnite warns that players with a high points score may have to wait longer in the games loading and matchmaking process to join a game with equivalent opponents.

    On Winter Royale Qualifier days the highest score in any event session will be the one that determines access to the Winter Royale Finals.  Qualifying opens on November 24, 2018, and the finals begin for Europe on November 30, 2018.

    The highest scorers in each, North American (NA) and European Union (EU), region will be verified and players will go on to compete in the finals for their region. The tournament is restricted to NA and EU, but Fortnite plans to expand regional tournaments in the future.

    The Winter Royale tournament will follow the same game settings as Fortnite’s current Pop-Up Cup. Pop-Up Cups are a new way for Fortnite developers to try new settings and competitions. The settings are available via the “Tournament Details” button. Pop-Up Cups will change over time in the same way as Limited Time Modes like the current and pretty hilarious Food Fight.

    As well as Pop-Up Cups Epic has been improving the in-game online tournament system and the latest update of Fortnite makes some critical upgrades to improve processes like matchmaking.

    The improved Online Tournament system will be used next year for qualifying for the Fortnite World Cup. The $1 million prize fund for Fortnite Winter Royale ranks among the top 50 esports prize pools of all time but pales in comparison to the $100 million fund Epic Games has allocated to Fortnite tournaments across the 2018-2019 season.

    Fortnite World Cup prizes are sure to be higher and both tournaments will attract the best eSports professional players there are. That doesn’t mean new players won’t stand a chance though. Fortnite is relatively easy to learn so it’s just a case of honing skills and giving it a go or you could get really serious and hire a Fortnite coach.

    Featured image from shutterstock.

  • The Rise and Fall of Multi-Millionaire Carlos Ghosn, Chairman of Nissan

    The Rise and Fall of Multi-Millionaire Carlos Ghosn, Chairman of Nissan

    In a sudden and shocking development, French-Brazilian-Lebanese millionaire, Carlos Ghosn chairman of Nissan and one of the most influential figures in the automotive world has been arrested for financial misconduct.

    Ghosn, also chairman of Renault and Mitsubishi Motors as well as Nissan, is legendary for creating a global alliance of the three automotive companies. Combined, the three auto-makers employ over 470,000 staff in 122 automotive manufacturing facilities and sold over 10 million vehicles in 2017. The three share both resources and costs in a model that other automotive companies have looked to copy. Rebecca Lindland, an auto analyst for Cox Automotive said:

    “He was the creative genius behind all of this, and set the parameters to run these fairly disparate companies.”

    Ghosn is credited with saving French car-maker Renault after a restructure that returned it to profit and earned him the title “Le cost killer.” When Renault formed the first alliance with Nissan in 1999 Ghosn became the leader of both companies and was then credited for turning around Nissan. He became CEO for Nissan in 2001 and Renault in 2005 and was the first person to be in charge of two Fortune Global 500 companies at the same time. Writing in 2002, of Nissan’s return to success, Ghosn said:

    “This was, quite literally, a do-or-die situation: Either we’d turn the business around or Nissan would cease to exist.”

    Ghosn went on to become chairman of Mitsubishi in 2016 when Nissan bought a controlling portion of the Japanese company.  He was also chairman of the Russian automotive manufacturer AvtoVAZ between 2013 and 2016.

    The Hardest Working Man in the Automotive Industry

    Born in Brazil in 1954, Ghosn moved to Beirut, Lebanon, at the age of six before going on to study in Paris graduating as an engineer in 1974 from École Polytechnique and from the engineering institution École des Mines de Paris in 1978.

    He went on to work for Michelin for 18 years at plants in France and Germany before becoming a plant manager in France in 1984. In 1985 he became COO of Michelin’s South American operations, developing his cross-cultural management style and bringing the division back to profit. Ghosn is quoted as saying:

    “You learn from diversity … but you’re comforted by commonality.”

    He then became COO and then CEO of Michelin North America in 1989 and 1990 respectively, moving to America, before becoming an Executive Vice President for Renault in 1996 and saving the struggling car company.

    Ghosn, now 64, has a net worth of $100 million and a last reported salary of $17 million per annum. In 2003 he was ranked as one of the 50 most famous men in global business and politics. He pioneered the $5 billion investment by Nissan to build the first mainstream electric car, the Nissan Leaf.

    Forbes Magazine once called Ghosn the hardest working man in the automotive industry for his traveling 150,000 miles by air per year between Paris and Tokyo. Japanese media has nicknamed him “Seven-Eleven” for his ability to work from dawn to dusk.

    Arrested for Financial Misconduct

    Ghosn was arrested in Tokyo, Japan, November 19, 2018, for financial misconduct pertaining to underreporting his own income and using company assets for personal use. Reports indicate Ghosn and Nissan Director Greg Kelly have been under investigation for a number of months for under stating their earnings to securities regulators in Tokyo. A statement by Nissan revealed:

    “Numerous other significant acts of misconduct have been uncovered — such as personal use of company assets — and Kelly’s deep involvement has also been confirmed.”

    The millionaire chairman has reportedly under declared his income by $44 million over a period of five years.  The arrest is part of a process in Japan before Ghosn’s case can be brought to court and does not, as yet, confirm his guilt.

    Nissan plans to meet this coming Thursday to discuss Ghosn’s official removal from the Nissan board of directors. Hiroto Saikawa, Nissan CEO and now the only remaining top executive at the firm will recommend Ghosn and Kelly’s dismissal citing their:

    “Clear violations of the duty of care as directors.”

    Saikawa, in a press conference, went on to say:

    “I have to say that this is a dark side of the Ghosn era which lasted for a long time.”

    Ghosn had been working to secure the alliance between Renault, Mitsubishi, and Nissan, including the potential of a merger, for a time when he would no longer lead the collaboration. He stepped down as Nissan CEO in 2017 and was likely to step down as CEO of Renault before his official term ended in 2022.

    Renault’s share price has already fallen 15% and Nissan’s share price 11% in the aftermath of the news.

    Nissan Share Price Source: Google

    The automotive icon joins Mark Zuckerberg in the news this week as industry leaders under scrutiny. Zuckerberg, though not accused of personal misconduct, is facing further concerns over Facebook’s operations.