Fred and Peter Done are two prominent names that will forever be linked to the UK betting industry. From the slums of Salford, the Done brothers rose to billionaire status, establishing one of the most successful betting companies in the country.
The Done brothers are British billionaires who have made a significant mark in the gambling industry. They grew up in what Fred Done’s brother, Peter Done, described as the “slums of Salford,” where they shared a modest home with two siblings.
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Fred, the elder brother, was born in March 1943, and Peter arrived four years later in 1947. They were raised in Oddsall, a rough neighborhood in Salford, Manchester, and this humble upbringing was marked by financial struggles.
At 15, both boys left school without qualifications to join their father’s illegal bookmaking business. Notably, Fred had already begun working as an illegal bookmaker runner at 12 while still in school. So, by the time he left school at 15, Fred Done betting runs had already earned him £1,000.
In 1966, Fred officially entered the bookmaking scene after winning £1600 from a £200 bet on England’s World Cup victory. Together with his brother Peter, they used the winnings to purchase their first bookie shop and named it “Done Bookmakers.” In 2004, it became Betfred, growing to 1,650 shops and recording a £10 billion turnover by 2018.
While running Betfred, the Done brothers founded another major business, the Peninsula, in 1983. This business was eventually delegated to Peter Done, the Betfred bookie co-founder, as it needed someone’s full-time attention at the time. Interestingly, the brothers decided who would run Peninsula with a coin toss. Peter’s focus on Peninsula led him to step back from active Betfred management but remained a significant shareholder. Under his leadership, Peninsula expanded globally, reaching a valuation of over £1 billion.
As of 2023, the Sunday Times Rich List estimates that the Done brothers have a combined net worth of over £1.25 billion, which puts them 117th on the list. Precisely, Fred Done net worth was estimated at £1.87 billion. This substantial wealth places them among notable figures in the UK’s financial landscape, particularly within the gambling industry.
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As businessmen, Fred and Peter’s political affiliations are partly motivated by business interests. A precise instance is their 2011 non-cash donation of nearly £5,000 to Philip Davies, who served as a Member of Parliament in Shipley. Davies was known to be a vocal advocate for the gambling industry at the time.
The brothers have also recently shown significant affiliation with the Conservative Party. In fact, since 2016, they have generously contributed a total of £375,000 to the party through their holding company, Rainy City Investments.
The Peter and Fred Done family are known for their occasional contributions to charity. A considerable part of their philanthropic contributions is channeled towards supporting welfare and healthcare for children. One outstanding example is their donation of a day’s worth of Betfred’s profits to the Royal Manchester Children’s Hospital.
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Specifically, in March 2021, Peninsula raised a total of £1 million for the Royal Manchester Children’s Hospital charity. This was later increased to a whopping £2 million due to the Covid-19 pandemic. Additionally, the brothers support various children’s hospitals and charities, such as the Jessie May Children’s Charity.
The Done brothers’ story is a classic rags-to-riches tale. In contrast to other figures in the UK betting industry, like Victor Chandler, who inherited a substantial estate, the Done brothers had to start from the ground up and build their success from scratch. From their humble beginnings in the slums of Salford, they have remarkably ascended to billionaire status, becoming influential figures in the UK’s betting industry.
Today, they are estimated to be worth over £1.25 billion. This positions them as a prominent figure in the UK financial landscape, particularly within the gambling sector. Despite their success, the Done brothers are not solely focused on wealth accumulation. Beyond their business achievements, Fred Done, the Betfred bookmaker founder and his brother, Peter, have also shown a dedication to philanthropy, making substantial contributions to children’s welfare and healthcare.
