The blogosphere is awash with stories of Sportpesa CEO Ronald Karauri and his many extravagances afforded by his fat paycheck.
The young CEO has rubbished some of these reports appearing on blogs terming them as ‘pure lies and fabrications’.
For starters, Karauri has been literally a high flier has been a first officer then a captain with Kenya Airways (KQ) for 11 years. At KQ, Karauri went on to serve as the Kenya Airline Pilots Association secretary-general.
He exited KQ to start Sportpesa, the most popular online sports betting company.
How Sportspesa came into existence
Sportpesa is by the far the most visible and popular betting company in Kenya and by extension in Africa. It has spread its tentacles in the European Premier League and has entered sponsorship partnerships with Arsenal Football, Everton and Hull City. Locally, the company is the main sponsor of AFC Leopards and Gor Mahia. The Sportpesa CEO told SDE how the idea was floated in a casino where he frequented. He told the man who had shared the idea that he was really interested and wanted to join him in the venture. “ …, you know what, I am really interested and would like to join you. So initially, I was one of the few people who bought the idea because, at that time, not many people could see it. Some people joined much later”.
Worth of Bets Placed Per Month on Sportpesa betting platform. According to SDE, the company receives the excess of kes2 billion a month on bets placed by their clients.
Karauri Sportpesa Shares
The 39-year-old CEO believed in the business that he sold his parcel of land for kes25million to acquire six percent stake in the betting company. In a different interview with SDE, Karauri recounted how it was nearly impossible to get people to invest in Sportpesa :’ You know when we started SportPesa in 2014, no one would have even touched us. No one even thought it could go anywhere. I remember asking some guys, “do you have some cash to put into this thing…” They would tell me “Boss, what the hell is this? You’re talking about gambling. It can’t work.” But it has proved to be one of the most profitable business in Kenya and attracted other betting firms for a slice of the cake.
Karauri’s salary
The CEO ranks among the highest paid in the country. According to some sources, Karauri monthly salary was kes10million in 2017 and could have gone up to kes12 million this year. This figure excludes the bonuses he receives. Interestingly he doesn’t bet preferring instead a game of poker.
Other Sportpesa shareholders
1. Gene Grand (American) -21%
2. Guerassim Nikolov (Bulgarian) – 21%
3. Asenath Wacera Maina (Kenyan) – 21%
4. Paul Wanderi Ndung’u (Kenyan) -17%
5. Ronald Kamwiko Karauri (Kenyan) – 6%
6. Cellini Holdings – 5%
7. Valentina Nikolaeva (Bulgarian) – 3%
8. Robert Kenn Wanyoike Macharia (Kenyan) – 3%
9. Ivan Kalpakchiev (Bulgarian) – 2%
10. Francis Waweru Kiarie (Kenyan) – 1%
Business owned by Karauri
The Sportpesa CEO owns the high end Skylux Club in Westlands.
Reports that he owns a Gulfstream Jet
He denied reports making the heavy rotation on blogs claiming that he had acquired a Gulfstream Jet which goes for $38million (kes3.8 billion).
Cars
He owns a Maybach MercedesS600 and a Range Rover Overfinch
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