Net Worth Ranker
What Is Mike Sexton’s Net Worth
At the time of his passing on September 6, 2020, at the age of 72, Mike Sexton, a prominent American professional poker player, had an estimated net worth of $10 million. This net worth primarily stemmed from his successful poker career, endorsements, and business ventures within the poker industry.
Sources of Mike Sexton’s Net Worth
Mike Sexton’s $10 million net worth was accumulated through various avenues, primarily centered around his poker career. He earned over $5.8 million in live tournament winnings throughout his career, including a World Series of Poker bracelet. However, his total earnings extended beyond tournament wins, encompassing cash game profits, endorsements, and business ventures. His role as the host of the World Poker Tour (WPT) and his association with PartyPoker contributed significantly to his overall wealth. He also received income from commentary gigs and personal appearances.
Sexton’s association with PartyPoker was particularly significant, both in terms of his role as a spokesman and his initial ownership stake. Though precise details of his spokesman contract with PartyPoker remain private, individuals in similar roles often receive substantial compensation packages, including salary, bonuses, and stock options. While he made $15 million from selling his PartyPoker shares, it is essential to realize he likely had other investments in stocks, bonds, or real estate that contributed to his wealth.
Mike Sexton’s Poker Career and Earnings
Mike Sexton’s poker journey began recreationally before transitioning to a professional career in 1977. His early career involved playing regionally while balancing his commitments as a Little League baseball coach. In 1985, he fully dedicated himself to poker, relocating to Nevada to pursue it full-time. Over his career, he amassed over $5.8 million in live tournament winnings. Some of his notable achievements include winning a World Series of Poker bracelet and securing numerous high-profile finishes in major tournaments.
While his recorded tournament earnings amounted to over $5.8 million, it’s crucial to acknowledge that this figure doesn’t encompass his earnings from cash games, endorsements, or other poker-related ventures. High-stakes cash games, often played privately, can generate substantial income for successful players, and Sexton’s involvement in these games likely contributed significantly to his overall wealth. Furthermore, his role as a commentator and spokesperson for PartyPoker provided a steady stream of income over many years.
PartyPoker Stock Sale
One notable event in Mike Sexton’s financial history was his decision to sell his shares in PartyPoker for $15 million approximately a year and a half before the company went public. While this transaction resulted in a significant payout, it’s widely known that the value of those shares would have increased substantially had he held onto them until the company’s initial public offering (IPO). At the time of the IPO, PartyPoker was valued at $9 billion, implying that Sexton’s shares would have been worth well over $500 million. While Sexton expressed some regret over this decision, it’s important to note that $15 million was still a substantial sum of money, and it likely played a role in his overall net worth.
Early Life and Career Beginnings
Born in Shelby, Indiana, Mike Sexton pursued gymnastics in college and graduated from Ohio State University with a degree in Public Recreation. Subsequently, he served as a paratrooper in the U.S. Army. Before dedicating himself to poker, he balanced his passion for the game with his responsibilities as a Little League baseball coach. This early life shaped his work ethic and discipline, which would prove invaluable in his poker career.
World Poker Tour (WPT)
Mike Sexton’s role as the host and commentator for the World Poker Tour (WPT) significantly contributed to his fame and financial success. He, alongside Vince Van Patten, provided insightful commentary and analysis of the televised poker tournaments, reaching a wide audience and further establishing Sexton as a prominent figure in the poker community. While the exact details of his WPT contract remain confidential, it likely included a combination of salary, bonuses, and potential profit-sharing arrangements. His long-term presence on the WPT contributed substantially to his overall income and net worth.
