Paul Newey (born 6 September 1968) is an

English English usually refers to: * English language * English people English may also refer to: Peoples, culture, and language * ''English'', an adjective for something of, from, or related to England ** English national ide ...

businessman and semi-professional poker player from

Dorset Dorset ( ; archaically: Dorsetshire , ) is a county in South West England on the English Channel coast. The ceremonial county comprises the unitary authority areas of Bournemouth, Christchurch and Poole and Dorset (unitary authority), Dors ...

England England is a country that is part of the United Kingdom. It shares land borders with Wales to its west and Scotland to its north. The Irish Sea lies northwest and the Celtic Sea to the southwest. It is separated from continental Europe b ...

who co-founded Ocean Finance and later New Wave Ventures.

Career

In 1991, Newey co-founded Ocean Finance, a loan and mortgage business, in

Staffordshire Staffordshire (; postal abbreviation Staffs.) is a landlocked county in the West Midlands region of England. It borders Cheshire to the northwest, Derbyshire and Leicestershire to the east, Warwickshire to the southeast, the West Midlands Cou ...

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and North ...

. He sold the company in 2006 and left his CEO position in 2009. He later co-founded New Wave Ventures a privately owned investment fund located at Adam House in

London London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a majo ...

. Newey has made the ''

Birmingham Post The ''Birmingham Post'' is a weekly printed newspaper based in Birmingham, England, with a circulation of 2,545 and distribution throughout the West Midlands. First published under the name the ''Birmingham Daily Post'' in 1857, it has had a s ...

'' rich list in 2013, 2015 and 2017 ranking 28th, 17th and 20th respectively. At the end of 2017 his net worth was estimated at $335 million.

Gambling

Newey is an avid gambler. On 4 January 2005 Newey nearly broke the bank at Birmingham's Genting Casino Star City where he won £3 million and forced owner

Stanley Leisure Stanley Leisure is a British casino firm. History The company was founded in the 1950s as a bookmakers in Belfast. It was originally run by Leonard Steinberg, Baron Steinberg. In 1977, Steinberg moved the business to Liverpool after an attempted ...

to issue a profit warning. The casino value declined by 12% as a result of Newey's win. Newey lost his winnings later that month. In 2014, Newey won four times at the $5,000-a-spin machines in Aria Casino located in Las Vegas for a total of $1.75 million.

Poker

Newey began playing high stakes poker tournaments in 2012 after entering the $1,000,000

Big One for One Drop The Big One for One Drop is a $1,000,000 buy-in No Limit Texas hold 'em tournament hosted at the World Series of Poker (WSOP). Added in 2012, it became the highest buy-in poker tournament in history as well as the largest single payout offered. T ...

event at the

World Series of Poker The World Series of Poker (WSOP) is a series of poker tournaments held annually in Paradise, Nevada and, since 2004, sponsored by Caesars Entertainment. It dates its origins to 1970, when Benny Binion invited seven of the best-known poker pla ...

. Newey was eliminated without cashing on Day 2 by eventual champion

Antonio Esfandiari Antonio "The Magician" Esfandiari ( fa, امیر اسفندیاری; born December 8, 1978 as Amir Esfandiary), is a professional poker player and former professional magician, known for his elaborate chip tricks. Esfandiari was the face of th ...

. In 2014, Newey again entered the $1,000,000 One Drop event; this time, he finished 7th, earning $1,418,667. Newey has had success in the poker world. As of 2018, Newey has cashed for over $4,800,000. Newey plays online under the alias "topdoll827".

References

External links

Paul Newey Hendon Mob profile
{{DEFAULTSORT:Newey, Paul British hedge fund managers English financial businesspeople British investors English poker players British money managers Living people 1968 births People from Dorset Sportspeople from Dorset