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Screenshot of a breaking news alert e-mail from Q2 2017
It has been a very busy 12 months for Israeli online entrepreneur Teddy Sagi, and apparently a very successful one.
In a year which saw Mr. Sagi put his personal stamp on the Retail Forex indutsry – by folding his Markets.com into publicly-traded Playtech PLC (LON:PTEC) and then spending more than half a billion dollars to acquire rivals Plus500 and AvaTrade – Forbes magazine calculates that Sagi nearly doubled his wealth in 2015, moving up nine spots in Forbes’ annual ranking of Israel’s wealthiest people.
Forbes estimates Sagi’s net worth at NIS 16.8 billion (USD $4.4 billion) placing him sixth on the Forbes Israel list, up from $2.3 billion and 15th place in its 2014 ranking.
A good portion of the increase in Mr. Sagi’s wealth was due to his non-online investments, primarily his acquiring control of London’s iconic Camden Markets, and IPO’ing the company as Market Tech Holdings Ltd (LON:MKT).
As far as the Retail Forex market goes, we believe that Mr. Sagi and Playtech are not done dealing. While the Plus500 and AvaTrade acquisitions have yet to close (both acquisitions have been approved by shareholders and with regulatory approval should close fairly soon), we believe that there are other brokers in Playtech’s sights as it looks set to become the #1 retail forex broker worldwide.
To see the Forbes review of Teddy Sagi click here (in Hebrew).