Early life
Mark Scheinberg was born in Israel, on December 27, 1973. Scheinberg grew up in Israel and relocated to Toronto with his family when he was a teenager. He worked in hospitality and traveled to Asia and South America after one year at Fanshaw college.
Career
Mark Scheinberg is an Israel-Canadian business tycoon and PokerStars’ co-founder and previous owner. In 2001, at the age of 28, Mark Scheinberg co-founded PokerStars with his father, Isai; a well-known computer programmer, and built it into the world’s biggest online poker company. PokerStars reaped the benefits of the poker boom that swept the United States and the rest of the world in the early 2000s. During Mark’s tenure as the company’s Chief Executive Officer, PokerStars grew to become one of the biggest online gaming companies globally, with over 50 million users and the home of the most extensive online tournament series. In June 2014, Amaya Inc, formerly known as The Stars Group, agreed to purchase PokerStars and its parent company for $4.9 billion in cash. On August 1, 2014, they finalized the deal, leaving a tremendous amount of funds at Mark’s disposal. In 2017, Mark’s investment firm, Mohari Hospitality, invested in a real estate plan in Madrid, Spain. Mohari paid €225 million for a 50% share in the Centro from Grupo OHL subsidiary, OHL Desarrollos, and industrial company Villa Mir, which retained stakes. As of 2017, Mohari has invested$700 million USD and is expected to gain even more investments in the future.
Net Worth
As an entrepreneur, Mark Scheinberg has an estimated net worth of $5.3 billion. In 2017, he was ranked No.55 Richest in Tech and No.574 Billionaires of 2021 on Forbes Lists.
Achievement
Mark Scheinberg rode the wave of poker popularity in the early 2000s, turning PokerStars into the world’s largest online poker company. According to Forbes, by 2010 PokerStars was generating roughly US$500 million in annual profits from US$1.4 billion in revenue. In December 2000, PokerStars made a world record for hosting the largest online poker tournament. The entry fee for participating in the tournament was just $1, and 149,196 people participated. In 2011, PokerStars broke their own record, when 200,000 participants played the $1 buy-in tournament and in 2013, they broke this record again, when 225,000 players participated in the tournament. Most notably, in March 2020, Mark established the Scheinberg Relief Fund, providing funding to charities directly affected by the Covid-19 pandemic. The Scheinberg Relief Fund focused on providing medical equipment, masks, and food assistance while primarily aiding the elderly and animal care.