A UK-based millionaire, who is a philanthropist and hedge fund tycoon by day and an avid poker player a night, has lost over £850,000 playing poker last weekend.
Talal Shakerchi, a self-made millionaire, loves player high-stakes poker in different parts of Europe. Last Saturday, he played against a few major professional poker players and lost a large sum of money.
The financier, who was born in the Midland, is widely renowned as a skilled amateur poker player. In spite of his reputation, he lost €500k in the initial phase of the game and then bought back into the game with €750k. Shakerchi played against Sam Trickett, internationally acclaimed as the biggest live poker tournament winner in the UK, having won around £13 so far, and Paul Newey, a talented amateur British poker player.
After playing for 12 hours at the high-stakes game, which was held at a Monte Carlo hotel, Shakerchi lost over €1.1 million and had only €84k left with him. A total of six poker players, including Shakerchi, were playing at this €500k buy-in tournament held as part of the European Poker Tour (EPT) finals in Monaco.
Reportedly, Shakerchi, the founder owner of a hedge fund called Meditor, has won over £1 million playing live poker tournaments during the past few years. He began playing poker as a hobby and then started taking part in live poker tournaments, but he was just not lucky in the Monte Carlo hotel. The millionaire, however, took his loss gracefully. At the end of the game, he said, “Goodbye, see you guys tomorrow” to the two players who were left at the table.
The Sunday Times Rich List says that Shakerchi is worth around £100 million and gives generously to charitable causes. A PokerStars.com commentator who was live tweeting the event, said: “While they’re playing 100k+ pots the conversation is very friendly and all 3 of them are laughing a lot.” Later, he said: “Talal seems very unlucky and running very bad – can’t seem to win a hand.”
Shakerchi is known to be addicted to commodity trading, the stock market, and playing at casinos. He is widely acclaimed as one of the top stock pickers in the world. He served at Old Mutual for a few years before founding Meditor in the late nineties.
There was over €4 million on the poker table, and experts said that this was the largest sum of money ever wagered on a game in Europe.