Billionaires

Plastic Cup Billionaire Shifts Fortune to New ‘Sin Stock’ Bets

Flutter has faced increased pressure from prediction markets firms including Kalshi and Polymarket.
Photographer: Jason Alden/Bloomberg

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By Dylan Sloan

December 1, 2025 at 10:00 AM UTC

Billionaire Kenneth Dart, the reclusive, Cayman Islands-based heir to his family’s eponymous plastic-cup fortune, made $4 billion from a contrarian bet on Big Tobacco. Now, he’s turned his attention to another vice.

Since April, the 70-year-old investor has unloaded billions in tobacco stocks and bought a major stake in sportsbook operator Flutter Entertainment Plc. That complements a position in Swedish online casino firm Evolution AB that he began building last year, currently worth about $2.9 billion.