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Teddy Sagi

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Teddy Sagi
Born1971 (age 52–53)
Tel Aviv, Israel
NationalityIsrael
Cyprus
OccupationBusiness magnate
Known forFounder of Playtech, a gambling software and services company
PartnerYael Nizri (2010–)
Children3
Parent(s)Ami Sagi
Lizi Sagi

Teddy Sagi (born 1971) is an Israeli-Cypriot[2] businessman, partially based in London. He is ranked 6th on Forbes' Richest Israeli People.[3] Sagi is the founder of the gambling software company Playtech and owner of London's Camden Market. His personal wealth is estimated at $US3.6bn, with interests in real estate, gambling software, payments processing, and digital advertising.[4][5]

Sagi was sentenced to 9 months in prison in 1996 for "grave deceit, bribery and insider trading", after being found guilty of manipulating bond prices in Israel in 1994.

Career

In recent years, Sagi scaled down his gaming operations to a 6.3% holding share of Playtech, which he founded in 1999, as opposed to 81% at the time of its IPO.[6]

Real-Estate

Camden Market

Camden Market Holdings, the owner of Camden Market, Stables Market and Camden Lock Developments was bought by Sagi in March 2014 for £400 million (US$664 million) from Bebo Kobo (50% owner), and Richard Caring and Elliott Bernerd for 2.3-2.6Bn ILS, which later turned out to be the biggest LSE IPO of 2015.[7][8] 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.[9]

In July 2017 Sagi has completed delisting Market Tech from the LSE, at a value of 1.1Bn ILS.[10]

Sagi intends to invest £300 million in developing the market area by 2018.[9]

Other Real Estate Ventures

In June 2017 Sagi acquired 44% of Brack Capital Properties N.V, which is a listed real estate company, owning and developing residential and commercial properties in Germany.[11]

Sagi is also reported to enter the co-working share workspace sector with an international brand LABS. The first location is slated to open in London.[12]

Hi-Tech

SafeCharge

Sagi is majority shareholder (with 68% control) of the company, which is a credit card clearing company for the online gambling industry.[13]

Primarily based in Bulgaria, SafeCharge is traded on London's AIM, with a market cap of £385 million. The company is listed on the Alternative Investment Market (AIM) of the London Stock Exchange.

Crossrider

In late 2012 Sagi acquired the start-up company Crossrider for $US 37M. The company went public on AIM at a value of $US 250M. It is an application distribution and digital products platform.[14]

Stucco Media

In 2015 Sagi acquired the start-up company Stucco Media for $US 43M. The acquisition was made by Market Tech, and the company is now owned by him. Stucco Media develops eCommerce website technology.[15]

Glispa

Also in 2015, Sagi acquired the German start-up for 32M EUR. Glispa is an advertising company, mainly via mobile phones.[16]

Playtech

Sagi owns 6.3% of the company, 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.[17]

In 2013, The Guardian reported that Sagi had "been based in Cyprus for some years".[18][19]

In August 2015, The GoodVision Trust (beneficiary Teddy Sagi) sold a 24.79% stake of Austrian real-estate company conwert Immobilien Invest SE to the German real-estate company ADLER Real Estate AG. The market value of these shares was 0.25 billion Euro.[20]

Personal life

Teddy Sagi was born in 1971 in Tel Aviv, Israel and grew up there in the Shikun Lamed neighborhood,[21] the son of Ami and Lizi Sagi.[22] His father Ami owned a travel agency, and his mother Lizi was a cosmetician.[21][22]

In 2009 Sagi obtained Cypriot citizenship as part of a 'golden visa' scheme by Cyprus government. As Cyprus is part of the European Union Sagi obtained a Passport of the European Union.[2]

Since 2010, Sagi has been living with Yael Nizri, the 2006 Miss Israel, and they have two daughters together.[21][23] Sagi owns the most expensive home in Israel, located in Herzliya. The home, which he bought in 2010, lies in the wealthy neighborhood of Herzliya Pituah on Galei Techelet Street, Israel's most expensive street. It is a 2,000 square meter house on a half-acre lot on the shore, and has a fitness room, wine cellar, sealed room, and an elevator to the beach. Sagi also owns two penthouses in Herzliya, and other homes in Tel Aviv (including an apartment in the Tzameret Towers purchased from former Israeli Prime Minister Ehud Barak), London's Knightsbridge, Cyprus, and Berlin.[21][24][25][26]

Sagi received a 9-month prison sentence in 1996 for "grave deceit, bribery and insider trading", after being found guilty of manipulating bond prices in Israel in 1994. This followed a plea bargain with the district court in Tel Aviv.[21][27][28]

References

  1. ^ "Teddy Sagi". Forbes. Retrieved 21 April 2015.
  2. ^ a b Farolfi, Sara (17 September 2017). "The billionaires investing in September Cyprus in exchange for EU passports". TheGuardian.com. Retrieved 19 September 2017.
  3. ^ "100 העשירים בישראל 2016 - פורבס ישראל". www.forbes.co.il. Retrieved 22 August 2017.
  4. ^ "Teddy Sagi". Forbes. Retrieved 28 August 2017.
  5. ^ "Teddy Sagi sells Playtech shares for $139m - Globes English". Globes (in Hebrew). Retrieved 3 September 2017.
  6. ^ "Playtech founder Teddy Sagi cuts stake to fund real-estate move". Financial Times. Retrieved 22 August 2017. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  7. ^ Minchom, Clive. "Teddy Sagi Buys London's Camden Stables Market In Deal Valued At US$664 Million". JewishBusinessNews.
  8. ^ "Restaurant tycoon Richard Caring earns £260m 'war chest' for new ventures after Camden Market deal | London Evening Standard". Standard.co.uk. 13 March 2014. Retrieved 19 April 2017.
  9. ^ a b "Teddy Sagi buys more Camden Market properties". Globes. 3 March 2015. Retrieved 22 April 2015.
  10. ^ "Teddy Sagi delisting Market Tech from LSE - Globes English". Globes (in Hebrew). Retrieved 22 August 2017.
  11. ^ "Teddy Sagi buys control of Brack Capital - Globes English". Globes (in Hebrew). Retrieved 22 August 2017.
  12. ^ "Teddy Sagi to launch shared workspace co LABS - Globes English". Globes (in Hebrew). Retrieved 22 August 2017.
  13. ^ "Teddy Sagi's SafeCharge raises $126m on AIM - Globes English". Globes (in Hebrew). Retrieved 22 August 2017.
  14. ^ "Teddy Sagi's Crossrider to raise $75m in London IPO - Globes English". Globes (in Hebrew). Retrieved 22 August 2017.
  15. ^ "Sagi buys Israeli e-commerce co Stucco Media - Globes English". Globes (in Hebrew). Retrieved 22 August 2017.
  16. ^ "Teddy Sagi's Market Tech acquires glispa - Globes English". Globes (in Hebrew). Retrieved 22 August 2017.
  17. ^ "Subscribe to read". Financial Times. Retrieved 22 August 2017. {{cite web}}: Cite uses generic title (help)
  18. ^ Bowers, Simon (18 March 2013). "The super-rich who have made Cyprus their home". The Guardian. ISSN 0261-3077. Retrieved 26 April 2016.
  19. ^ "Teddy Sagi: Israeli billionaire bachelor who has just saved spread-betters Plus500 for £500m". ibtimes.co.uk. Retrieved 30 July 2017.
  20. ^ PTA-PVR: conwert Immobilien Invest SE: Änderung der Stimmrechtsanteile FinanzNachrichten.de, 20 August 2015
  21. ^ a b c d e Exposed: The jailbird pornographer behind Britain's crack cocaine gambling machines, The Daily Mail, 18 April 2014
  22. ^ a b "Teddy Sagi - Israeli Billionaire and Founder of Playtech". Gamblingsites.org. Retrieved 28 April 2016.
  23. ^ Griver, Simon (26 May 2014). "Teddy Sagi keen on buying controlling stake in Championship club Reading for just £1 | Daily Mail Online". Dailymail.co.uk. Retrieved 28 April 2016.
  24. ^ "Israel's most expensive home sold for NIS 135m - Globes English". Globes. Retrieved 6 December 2017.
  25. ^ "Teddy Sagi buys 2 Herzliya penthouses - Globes English". Globes. Retrieved 6 December 2017.
  26. ^ "כלכליסט", שי סלינס (19 March 2012). "טדי שגיא הוא רוכש הדירה של ברק באקירוב". Retrieved 6 December 2017 – via Ynet.
  27. ^ Blitz, Roger (6 March 2014). "Playtech founder cashes in after creating multiple millionaires". FT.com. Retrieved 28 April 2016.
  28. ^ "Teddy Sagi: Israeli billionaire bachelor who has just saved spread-betters Plus500 for £500m". Ibtimes.co.uk. 2 June 2015. Retrieved 28 April 2016.
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