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Teddy Sagi

Teddy Sagi
Born 1972
Tel Aviv, Israel
Residence London, England
Nationality Israeli
Occupation Businessman
Known for Founder of Playtech, a gambling software and services company
Net worth 11px US$ 3.5 billion (April 2015)[1]
Children 2
Relatives Ronen Sagi (stepbrother)

Teddy Sagi (born 1972) is a London-based Israeli billionaire businessman. He is the founder of Playtech, a FTSE 250 gambling software and services company, and the majority shareholder of Market Tech Holdings, which owns London's Camden Market. He is also the majority shareholder of two AIM-listed technology companies.

Early life

Teddy Sagi was born in 1972 in Tel Aviv, Israel.[2] His father was the owner of a travel agency.[2]

Career

Sagi was an investor in Unlimited9, an internet company which created pornographic websites, in 1999.[2] In 2006, he and two other investors, Elad Cohen and Moshe Ginsburg, were sued by partners Yakov Maimon and Alper Yareli, " alleging that the three defrauded them out of their shares in the successful company, and stole its content, its business operations and its books to boot."[3]

Sagi owns 33.6% of Playtech,[4] which he founded in 1999. It was floated in 2006 on the London Stock Exchange at a price that valued the business at approximately £550 million.[5]

Sagi is the majority shareholder of SafeCharge, an "online payment service provider" listed on the Alternative Investment Market (AIM) of the London Stock Exchange.[4] Moreover, he is the majority shareholder of Crossrider, a webbrowser optimizer also listed on the AIM.[6]

Camden Market Holdings, the owner of Camden Market, Stables Market and Camden Lock Developments was bought by Sagi in March 2014 for US$664 million.[7] Sagi has continued to buy property in the Camden Market area and as of March 2015, owns the four most important of the six sections of the market, London's second most popular tourist attraction after Buckingham Palace.[8]

Charles Butler, CEO of Market Tech Holdings commented, "These are highly strategic property acquisitions that extend the footprint of our Camden Market estate and propel our vision to significantly enhance Camden’s built environment to create a world-class living, working, retail and leisure destination under a single unified ownership." Sagi intends to invest £300 miillion in developing the market area by 2018.[8]

In April 2015, Forbes estimated Sagi's net worth at US$3.3 billion.[1]

Personal life

He is unmarried, and has two children.[2] He resides in Knightsbridge, London, and owns additional homes in Cyprus, Berlin, Israel and the United States.[2] He was jailed for nine months for "grave deceit, bribery and insider trading" in 1994.[2]

References

  1. 1.0 1.1 "Teddy Sagi". Forbes. Retrieved 21 April 2015. 
  2. 2.0 2.1 2.2 2.3 2.4 2.5 Exposed: The jailbird pornographer behind Britain's crack cocaine gambling machines, The Daily Mail, 18 April 2014
  3. Arnon Ben-Yair, Porn site builders sue partners for share in profits, Haaretz, December 4, 2006
  4. 4.0 4.1 Ashley Armstrong, Playtech spends £151m on another deal with founder Teddy Sagi, The Daily Telegraph, 2 April 2015
  5. Playtech plans to raise £175m in IPO FT.com, 17 February 2006
  6. Tali Tsipori, Teddy Sagi's Crossrider to raise $75m in London IPO, Globes, 31 August 2014
  7. Minchom, Clive. "Teddy Sagi Buys London’s Camden Stables Market In Deal Valued At US$664 Million". JewishBusinessNews. 
  8. 8.0 8.1 "Teddy Sagi buys more Camden Market properties". Globes. 3 March 2015. Retrieved 22 April 2015.