Ruth Parasol
Encyclopedia
Ruth Parasol founded PartyGaming
in 1997, the parent company of online poker site PartyPoker.com, which floated on the London Stock Exchange in June 2005. In 2006, Parasol was ranked #197 on Forbes
' 400 Richest Americans. Subsequently in 2007, she dropped off the Forbes
' 400 Richest Americans rankings, due to the 75% drop in value of PartyGaming shares. Parasol and husband Russ DeLeon
were ranked #97 on the Sunday Times Rich List 2008. In 2010, The Economist
magazine ranked her 15th of the world's richest self-made women.
, Ruth is the eldest daughter of Jewish Polish born Holocaust survivor Richard Parasol and Swedish mother Guna Parasol. She grew up in Mill Valley, California
, and graduated from Marin Academy High School
in 1984. She received a BA in Business from University of San Francisco in 1988.
After graduating from Western State University College of Law
in 1992 she embarked on a short career in business with her entrepreneurial father, initially in his real estate management business, and his audiotex business, which provided horoscope, tarot, trivia, chat and adult services over the telephone.
Ruth Parasol and Russ DeLeon were married in California in 2003. Since January 2004, they have lived in Gibraltar
where they now have three children.
In addition, Parasol also supports community-related causes in Israel, Poland, and Spain, including Tel Aviv University, The Museum of The History of Polish Jews in Warsaw, and the Prodean Animal Rescue Center in La Linea, Spain.
and in 1998 met and partnered with software engineer, Anurag Dikshit
. At the time, she made Dikshit a partner in her online casino
business, which later became known as PartyGaming Plc, and in turn Anurag made Parasol a partner in his IT services business in India
. Parasol's expertise is electronic payment processing, website content management, online gaming regulations and international taxation.
In 2001, after launching PartyPoker.com, PartyGaming Plc grew dramatically to over $500 million in annual profits by 2005. In June 2005, PartyGaming Plc floated on the London Stock Exchange
at a value of £4.64 billion ($8.46 billion) and in September was admitted to the FTSE 100 list of companies.
In October 2006, PartyGaming pulled out of the US market after the passage of anti-gambling legislation by the U.S. Congress in the SAFE Port Act
, and the company’s share price dropped 60% as a result. The company then exited the FTSE 100. Parasol remained a consultant to PartyGaming Plc until December 2006. She remains a major shareholder.
PartyGaming
bwin.Party Digital Entertainment Plc is an online gambling company, formed by the March 2011 merger of PartyGaming plc and bwin. The world's largest publicly traded online gambling firm, it is best known for its online poker room PartyPoker.com and its sports betting brand Bwin. It is...
in 1997, the parent company of online poker site PartyPoker.com, which floated on the London Stock Exchange in June 2005. In 2006, Parasol was ranked #197 on Forbes
Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
' 400 Richest Americans. Subsequently in 2007, she dropped off the Forbes
Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
' 400 Richest Americans rankings, due to the 75% drop in value of PartyGaming shares. Parasol and husband Russ DeLeon
Russ DeLeon
Russ DeLeon pioneered PartyGaming with his wife Ruth Parasol.Born in 1965 in Sacramento, California, DeLeon received a Bachelor of Arts degree in Philosophy from the University of California, Berkeley in 1987. He then worked on Capitol Hill in Washington D.C. for his local congressman the late...
were ranked #97 on the Sunday Times Rich List 2008. In 2010, The Economist
The Economist
The Economist is an English-language weekly news and international affairs publication owned by The Economist Newspaper Ltd. and edited in offices in the City of Westminster, London, England. Continuous publication began under founder James Wilson in September 1843...
magazine ranked her 15th of the world's richest self-made women.
Personal life
Born in 1967 in San Francisco, CaliforniaSan Francisco, California
San Francisco , officially the City and County of San Francisco, is the financial, cultural, and transportation center of the San Francisco Bay Area, a region of 7.15 million people which includes San Jose and Oakland...
, Ruth is the eldest daughter of Jewish Polish born Holocaust survivor Richard Parasol and Swedish mother Guna Parasol. She grew up in Mill Valley, California
Mill Valley, California
Mill Valley is a city in Marin County, California, United States located about north of San Francisco via the Golden Gate Bridge. The population was 13,903 at the 2010 census.Mill Valley is located on the western and northern shores of Richardson Bay...
, and graduated from Marin Academy High School
Marin Academy
Marin Academy is a private college preparatory high school in San Rafael, California. Located on the campus that for decades housed the San Rafael Military Academy prior to its closure, MA was founded in 1971 with 16 faculty and a student body of 59.Marin Academy is one of the most competitive...
in 1984. She received a BA in Business from University of San Francisco in 1988.
After graduating from Western State University College of Law
Western State University College of Law
Western State University, College of Law is a private, for-profit American law school in Fullerton, California. It was the first law school established in Orange County and has over 11,000 alumni....
in 1992 she embarked on a short career in business with her entrepreneurial father, initially in his real estate management business, and his audiotex business, which provided horoscope, tarot, trivia, chat and adult services over the telephone.
Ruth Parasol and Russ DeLeon were married in California in 2003. Since January 2004, they have lived in Gibraltar
Gibraltar
Gibraltar is a British overseas territory located on the southern end of the Iberian Peninsula at the entrance of the Mediterranean. A peninsula with an area of , it has a northern border with Andalusia, Spain. The Rock of Gibraltar is the major landmark of the region...
where they now have three children.
Philanthropy
Parasol is Founding Member of the Bonita Trust’s International Advisory Board. The Bonita Trust is an independent philanthropic organization founded in Gibraltar in 2004. Bonita’s grant-making is focused on non-profit organizations in the areas of health, the environment and cultural heritage. The trust also has a special interest in using new technologies and Internet solutions to aid charitable programs.In addition, Parasol also supports community-related causes in Israel, Poland, and Spain, including Tel Aviv University, The Museum of The History of Polish Jews in Warsaw, and the Prodean Animal Rescue Center in La Linea, Spain.
Involvement in the gaming industry
In 1997, Parasol launched Starluck Casino Online in the CaribbeanCaribbean
The Caribbean is a crescent-shaped group of islands more than 2,000 miles long separating the Gulf of Mexico and the Caribbean Sea, to the west and south, from the Atlantic Ocean, to the east and north...
and in 1998 met and partnered with software engineer, Anurag Dikshit
Anurag Dikshit
Anurag Dikshit , is an Indian businessman and philanthropist. Previously the richest man in Gibraltar and the 701st richest man in the world Anurag has given away the vast majority of his wealth through his charitable organisation The Kusuma Trust...
. At the time, she made Dikshit a partner in her online casino
Online casino
Online casinos, also known as virtual casinos or Internet casinos, are online versions of traditional casinos. Online casinos enable gamblers to play and wager on casino games through the Internet....
business, which later became known as PartyGaming Plc, and in turn Anurag made Parasol a partner in his IT services business in India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
. Parasol's expertise is electronic payment processing, website content management, online gaming regulations and international taxation.
In 2001, after launching PartyPoker.com, PartyGaming Plc grew dramatically to over $500 million in annual profits by 2005. In June 2005, PartyGaming Plc floated on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
at a value of £4.64 billion ($8.46 billion) and in September was admitted to the FTSE 100 list of companies.
In October 2006, PartyGaming pulled out of the US market after the passage of anti-gambling legislation by the U.S. Congress in the SAFE Port Act
SAFE Port Act
The Security and Accountability For Every Port Act of 2006 was an Act of Congress in the United States covering port security and to which an online gambling measure was added at the last moment...
, and the company’s share price dropped 60% as a result. The company then exited the FTSE 100. Parasol remained a consultant to PartyGaming Plc until December 2006. She remains a major shareholder.