The chairman and owner of the Saracens rugby club, Nigel Wray, saw that his stake in YOLO Leisure and Technology, which is his investment firm, shoots up by £3.3million, after the YOLO Leisure and Technology soared in value.
YOLO, the name of the company is taken from the phrase ‘you only live once’ rose to 65 percent, since one of its music-streaming service Electric Jukebox, investments, said next year, it would list the name of the company on the London Stock Exchange.
YOLO holds 41 percent of Electric Jukebox and it is also backed by the celebrities including Robbie Williams and Sheryl Crow. The company, was also seen the growth after the launch of its entertainment device which was its second entertainment device. The device was the karaoke machine; this is also called as Roxi.
As the biggest shareholder of YOLO with a 23 per cent stake, Wray, who is now 69-years-old has got a big advantage in terms of finances.
However, it is not like Wary is the first one who has made this amount of profit by investing in the YOLO, Chris Akers the former Leeds United chief executive has also received this kind of profits, he received £303,000 when his 2.1 percent holding in YOLO jumped in value.
YOLO at the present time is headed by eCommerce expert Simon Robinson, the company aims to invest and identify with potentially lucrative tech people and also turnaround chances at the larger firms.
The company invests in TV broadcaster TVPlayer, video streaming site Simplestream, and podcast firm Audioboom and sports specialist Gfinity.
However, this new profit is really awesome for the chairman and owner of the Saracens rugby club, Nigel Wray. On one hand, he has received such a tremendous profit and on the other hand, the team has performed really well in this season.