Mark Scheinberg

Early Life and Immigration to Canada

Mark Scheinberg was born in Israel in 1973, and he moved with his family to Toronto, Ontario, Canada when he was 13 years old. The family settled in the suburban town of Richmond Hill during the 1980s, integrating into the Greater Toronto Area's diverse community. This early experience in Canada provided the backdrop for his future entrepreneurial pursuits, though his initial business ventures would emerge in the digital sphere rather than traditional Canadian industries. His father, Isai Scheinberg, was a computer programmer who would later become his business partner in their most famous venture.

Founding and Leading PokerStars

In 2001, Mark Scheinberg co-founded the online gambling company PokerStars alongside his father, Isai Scheinberg, who brought computer programming expertise to the venture. Scheinberg served as the company's chief executive officer, guiding its rapid expansion during a period of explosive growth for online poker. Under his leadership, PokerStars grew to become the world's largest online poker business, a position it solidified by hosting the planet's largest online tournament series. A major strategic acquisition occurred in 2012 when PokerStars purchased the rival brand Full Tilt Poker, further consolidating its market dominance. The company's parent entity, Oldford Group Ltd, was ultimately sold to the Canadian publicly listed firm Amaya Gaming Group in August 2014 for a monumental US$4.9 billion. Following the completion of this landmark sale, Scheinberg fully exited the PokerStars organization, concluding his direct involvement in the online gambling sector.

Establishing Mohari Hospitality

After departing from PokerStars, Scheinberg channeled his capital and business acumen into the luxury sector by founding Mohari Hospitality. Established as a private investment firm, Mohari focuses exclusively on high-end real estate and hospitality projects around the globe. The firm quickly assembled a portfolio of prestigious assets and developments, signaling Scheinberg's serious commitment to this new field. A key early hire was J. Allen Smith, the former chief executive officer of Four Seasons Hotels & Resorts, who joined Mohari as its managing partner. This appointment brought decades of luxury hospitality expertise directly into the firm's leadership, guiding its investment strategy and project selection for future acquisitions and developments.

Mohari Hospitality's investment strategy targets a mix of development projects, brand partnerships, and outright acquisitions. Its portfolio is international in scope, with significant holdings in North America and Europe. The firm invests in landmark properties such as the Centro Canalejas Madrid project, which involves restoring seven historic buildings. It partners with elite hotel brands like Four Seasons, The Ritz-Carlton Yacht Collection, and Waldorf Astoria to ensure quality and prestige. In 2023, the firm acquired a 66.9 percent stake in Tao Group Hospitality. It also purchased the Thompson Toronto hotel in 2017.

• Peninsula Resort in Papagayo, Costa Rica
• The Ritz-Carlton Yacht Collection
• Waldorf Astoria Miami
• Four Seasons Private Residences in Washington, DC
• Thompson Toronto hotel (acquired 2017)
• Majority stake in Tao Group Hospitality (acquired 2023)

Major Real Estate and Hospitality Projects

Mohari Hospitality's projects are characterized by their scale, luxury positioning, and significant impact on prime locations. One of the firm's most ambitious European undertakings is the Centro Canalejas Madrid project in Spain. In early 2017, Scheinberg, through Mohari, became a major investor by purchasing a 50 percent stake for €225 million from development partners. The project involved the meticulous restoration and redevelopment of seven adjacent historic buildings in the heart of Madrid. Slated to open in 2019, the mixed-use complex was designed to include residential units, extensive retail space, and the first Four Seasons hotel in Spain, ultimately creating approximately 4,800 jobs and establishing a new luxury destination in the city.

In Canada, Mohari made a notable entry into the Toronto market in September 2017 when a Canadian subsidiary acquired the Thompson Toronto hotel. This boutique property, located in the city's downtown core, features 105 guest rooms along with event spaces, restaurants, and lounges. The acquisition represented a strategic foothold in Scheinberg's adoptive country's most important urban market. A later and even larger transaction was finalized in April 2023, when Mohari Hospitality acquired a 66.9 percent controlling stake in Tao Group Hospitality from Madison Square Garden Entertainment for $550 million. Tao Group is a leading global operator of renowned restaurant and nightlife brands, marking Mohari's expansion beyond traditional hotel management into experiential hospitality and entertainment.

Philanthropy and The Scheinberg Relief Fund

In March 2020, as the COVID-19 pandemic created a global crisis, Mark Scheinberg and his family established The Scheinberg Relief Fund. The fund was created with a specific mandate to help tackle the direct impact of the coronavirus pandemic. It was initially allocated $50 million to support organizations and initiatives in geographic regions where the Scheinberg family has a business or personal presence, ensuring aid was directed to communities connected to them. Beyond pandemic relief, Scheinberg has demonstrated a personal interest in conservation and animal welfare. In September 2020, the Scheinberg Relief Fund announced it would match all public donations to the Wildlife Ranger Challenge, a major conservation fundraiser supporting charities like the Save the Rhino Trust. This commitment highlights a philanthropic focus that extends from immediate humanitarian aid to longer-term environmental stewardship and support for wildlife protection efforts.

Personal Life and Residency

Mark Scheinberg is single and has maintained a residence on the Isle of Man for many years. His financial success led to him being identified as the richest person on the Isle of Man as of May 2017. While he holds Canadian citizenship and built his foundational business from Canada, his primary residence and much of his investment activity are internationally focused. He maintains a notably private personal life, with public information largely confined to his business dealings and philanthropic activities. His family's mobility and global business interests are reflected in the geographically broad scope of both Mohari Hospitality's investments and the charitable work of the Scheinberg Relief Fund, which operates in multiple countries.

Wealth and Business Impact

The sale of PokerStars in 2014 for US$4.9 billion formed the substantial foundation of Mark Scheinberg's wealth. His subsequent investments through Mohari Hospitality have further diversified and likely grown his asset base. According to the Forbes real-time billionaire list, his net worth was estimated at US$5.6 billion as of 2024. This financial standing places him among the wealthiest individuals with strong ties to Canada. Scheinberg's business impact is twofold: first, as a co-architect of the online poker industry's modern landscape through PokerStars, and second, as a significant investor reshaping segments of the global luxury hospitality market. His journey from immigrant teenager to billionaire investor exemplifies a trajectory of leveraging digital innovation to generate capital, which is then deployed into tangible, high-profile real estate assets worldwide.

Questions about Mark Scheinberg

How did Mark Scheinberg make his money?

Mark Scheinberg's primary wealth originated from co-founding the online poker company PokerStars with his father in 2001. He served as its CEO as it grew to become the world's largest online poker business. The vast majority of his fortune was realized in 2014 when the parent company of PokerStars was sold to Canadian firm Amaya Gaming for US$4.9 billion. Following this exit, he has further grown his wealth through his investment firm Mohari Hospitality, which holds a large portfolio of luxury hotels and real estate projects.

What is Mohari Hospitality?

Mohari Hospitality is a private investment firm founded and principally owned by Mark Scheinberg after he left PokerStars. The firm focuses exclusively on investments in the luxury hospitality and real estate sectors worldwide. Its portfolio includes developments like the Centro Canalejas Madrid in Spain, ownership of the Thompson Toronto hotel, and a majority stake in Tao Group Hospitality. Mohari is known for partnering with elite brands such as Four Seasons, The Ritz-Carlton, and Waldorf Astoria on its projects.

What is Mark Scheinberg's connection to Canada?

Mark Scheinberg immigrated to Canada with his family at age 13, settling in Richmond Hill, Ontario, a suburb of Toronto. He is a Canadian citizen. While his primary residence is now on the Isle of Man, he maintains business ties to Canada. Notably, his firm Mohari Hospitality owns the Thompson Toronto hotel, and the company that purchased PokerStars in 2014, Amaya Gaming, was a Canadian publicly listed company.

What did Mark Scheinberg do after selling PokerStars?

After selling PokerStars in 2014, Mark Scheinberg founded the investment firm Mohari Hospitality. The firm focuses on the luxury and hospitality sectors. Its investments include the Peninsula Resort in Costa Rica, The Ritz-Carlton Yacht Collection, the Waldorf Astoria Miami, and the Four Seasons Private Residences in Washington, DC. In 2017, it became a major investor in the Centro Canalejas Madrid project. In 2023, Mohari Hospitality acquired a majority stake in Tao Group Hospitality.

Is Mark Scheinberg involved in philanthropy?

Yes, Mark Scheinberg is involved in philanthropy. In March 2020, he and his family founded The Scheinberg Relief Fund to help tackle the direct impact of COVID-19. The fund was allocated 50 million dollars. It supports organisations and initiatives in locations where the family has a business or personal presence. In September 2020, the fund announced it would match every donation to the Wildlife Ranger Challenge, a conservation fundraiser that works with charities like the Save the Rhino Trust.

What is Mark Scheinberg's net worth?

According to Forbes, his net worth is estimated at $5.6 billion as of 2024. This wealth largely originates from the 2014 sale of PokerStars, the online gambling company he co-founded, for US$4.9 billion. Following that sale, he exited the PokerStars group and focused on his investment firm, Mohari Hospitality. His financial status was notable as of May 2017 when he was reported to be the richest person on the Isle of Man, where he resides. His continued investments in luxury real estate and hospitality ventures through Mohari contribute to his substantial net worth.

Sources and further reading

• Mark Scheinberg (Wikipedia)
• Lessons from Mark Scheinberg (antoinebuteau.com)
• Mark Scheinberg (moharihospitality.com)
• Mark Scheinberg: Billionaire Who Made His Fortunes F... (highstakesdb.com)

Checked by the Yadude Books desk. Last updated 2026-11-02.