2016: No.17 - £240m
2015: No.17 - £230m
Paul Newey loves his poker. He is 28th in the England all time money winners list, just one place above humourist and TV presenter Victoria Coren Mitchell. He is 422nd in the world rankings, with winnings of more than $2.5 million.
He had a busy 2015 at the tables, competing in international poker tournaments in Malta, Spain, the Bahamas and Monte Carlo. His best position in the contests was sixth in the Deuces Wild event in Monaco.
But he doesn’t need to win big to make his fortune. He did that in 2006 when he sold Ocean Finance – the Tamworth debt consolidation business he founded in 1991 – for £200 million.
He sold Ocean Finance to American General, a subsidiary of US insurance giant AIG. He stayed on as chief executive but stood down in 2009.
To say that Paul Newey, aged 47, enjoys a flutter is an understatement. He famously came close to breaking the bank at Star City Casino in Birmingham when he won £3 million and forced owner Stanley Leisure to issue a profit warning, wiping 12 per cent off its share value.
Luck has been something which has followed Paul Newey since he lost his job back in 1991 when his employer went bust. With a business partner and just £2,500 he set up Ocean Finance – based on the Centurion Business Park in Tamworth – and the rest is history.
Paul Newey lives in a seven bedroom Regency style home in Sutton Coldfield.
London-based New Wave ventures, which he set up in 2010 with ex-Lloyds managing director Tim Bullock, invests in businesses with growth potential. He is chairman of the company. Investments include Aeristech, a Kenilworth-based engine turbo-charger company, Nottingham synthetic bone graft company Orthogem and Cambridge Scientific Innovations Ltd, a food and pharmaceutical product testing company.