David and Simon Reuben are two of the richest people in the United Kingdom, with a net worth of £18 billion according to the Sunday Times Rich List 2023. The brothers are well-known for their property investments and internet ventures, which have helped them amass their vast wealth.
Born in Bombay, India, the brothers started their careers in the carpet industry before moving into property investment in the 1980s. They have since built a vast portfolio of commercial and residential properties, including the Millbank Tower in London and the John Lewis Partnership’s flagship store on Oxford Street. Their property empire spans across the UK, Europe, and the United States.
In addition to their property investments, the Reuben brothers have also made significant investments in the internet and technology sectors. They own a stake in the online auction site BidX1 and have invested in several fintech startups. Their internet ventures have helped them diversify their wealth and stay ahead of the curve in an ever-changing business landscape.
Early Life and Education
David and Simon Reuben were born in Bombay, India, to a Baghdadi Jewish family. Their parents were David Sassoon Reuben and Nancy Reuben. The brothers grew up in humble beginnings and poverty. They attended a state school in Islington, London.
Despite their modest upbringing, the Reuben brothers showed an early interest in art and business. They began their careers in the scrap metal trade, buying and selling scrap metal to dealers in London. Their business acumen and hard work paid off, and they soon became successful scrap metal merchants.
The Reuben brothers’ parents played a significant role in their success. Their father was a successful businessman and entrepreneur, and their mother was a talented artist. They instilled in their sons a strong work ethic and a passion for success.
David and Simon Reuben’s education is not well-documented. However, they are known to have attended a state school in Islington, London. It is not clear whether they went on to attend university or pursue any further education.
Despite their lack of formal education, the Reuben brothers’ business success has made them one of the wealthiest families in the UK. Their net worth is estimated to be £16 billion, according to the Sunday Times Rich List.
The Reuben Brothers
The Reuben Brothers, David and Simon, are British billionaires known for their vast property and internet net worth. They were born in Bombay, British India, to a Baghdadi Jewish family. The brothers have a combined net worth of £22.265 billion as of 2022, according to the Sunday Times Rich List.
David Reuben, born in 1941, is the elder brother. He is a chartered accountant by profession and has been involved in various businesses throughout his career. Simon Reuben, born in 1944, is the younger brother. He is a graduate of Imperial College London and started his career as a scrap metal dealer.
The Reuben Brothers have made their fortune through a range of industries, including real estate, metal trading, and private equity. They own a vast property portfolio that includes prime properties in London, New York, and Monaco. They also have a significant stake in several companies, including Global Switch, a data center provider, and Metro Bank, a UK-based retail bank.
In addition to their property and business interests, the Reuben Brothers are also known for their philanthropy. They have donated millions of pounds to various charities and causes, including education, healthcare, and the arts.
The Reuben Brothers are also known for their love of yachts. They own several luxury yachts, including the 110-meter-long superyacht, Topaz. The yacht is estimated to be worth £400 million and is one of the largest in the world.
Overall, the Reuben Brothers are well-respected figures in the business world, known for their shrewd investments and philanthropic endeavors.
Venture into Business
David and Simon Reuben have made a name for themselves as astute businessmen with a diverse range of interests. They have ventured into various industries, including metals trading, carpets, and real estate.
The Reuben brothers started their career in the metal trading business, founding Trans-World Metals in the 1960s. They were successful in this industry, trading in tin, copper, and aluminium. Their business acumen and expertise in metals trading led them to expand their interests to other areas of business.
In addition to metals trading, the Reuben brothers also invested in the carpet industry. They acquired England’s oldest carpet company, Avena Carpets, which was established in 1750. The company is known for its high-quality carpets and rugs and has a showroom on King’s Road in London.
The Reuben brothers’ investments in the property market have also been successful. They have a vast property portfolio, including commercial and residential properties in the UK and abroad. They have invested in various high-profile projects, including the redevelopment of the Millbank Tower in London and the purchase of the iconic John Lewis building in Oxford Street.
The Reuben brothers’ business ventures have made them one of the wealthiest families in the UK. Their net worth is estimated to be around £16 billion, according to the Sunday Times Rich List. Their success can be attributed to their business acumen and investment strategy, which has allowed them to diversify their portfolio and make strategic investments in various industries.
Rise to Success
David and Simon Reuben are self-made billionaires who have amassed a fortune through their investments in property and internet technology. The brothers were born in Bombay, British India, and moved to the UK with very little. Over the years, they have built a reputation as shrewd investors with a keen eye for profitable opportunities.
The Reuben brothers’ rise to success began with their investments in the Russian aluminium industry in the 1990s. They took advantage of the privatisation of state-owned assets and acquired a stake in the country’s largest aluminium producer, UC Rusal. This investment proved to be highly profitable, and the brothers eventually sold their stake in the company for a substantial profit.
Since then, the Reuben brothers have diversified their investments and focused on property development and internet technology. They have invested heavily in prime real estate in London, including the Millbank Tower and the John Lewis Partnership headquarters. They have also invested in data centres and telecoms infrastructure, including the Global Switch data centre business.
According to the Sunday Times Rich List 2023, David and Simon Reuben and their family have a net worth of £20.3 billion, making them the second-richest family in the UK. Their wealth has been built through their investments in property and internet technology, as well as their earlier investments in the Russian aluminium industry.
The Reuben brothers’ success can be attributed to their ability to identify profitable opportunities and to take calculated risks. They have a reputation for being hands-on investors who are actively involved in the management of their investments. Their success has earned them a place on Forbes lists of self-made billionaires.
In conclusion, David and Simon Reuben’s rise to success is a testament to their entrepreneurial spirit and their ability to identify profitable opportunities. Their investments in property and internet technology have made them one of the wealthiest families in the UK, and their success is likely to continue in the years to come.
Property Investments
David and Simon Reuben are well-known for their property investments, particularly in London. The brothers have a keen eye for prime real estate and have invested in numerous properties over the years.
One of their earliest investments was on Walton Street in Chelsea, where they purchased a number of properties. They also own Connaught House on Berkeley Square, which is currently leased to the Indian government. In Victoria, they own the Millbank Tower, which was previously the headquarters of the Labour Party.
The Reuben brothers also own several properties on Piccadilly, including Cambridge House and the Burlington Arcade. In Paddington Basin, they own a large development site, which is set to become a major commercial and residential hub in the area.
Their portfolio also includes Clareville House, which is located near Sloane Square, and 100 Pall Mall, which is home to the Institute of Directors. In addition, they recently acquired the John Lewis HQ building in Victoria, which is set to be redeveloped into a mixed-use scheme.
Overall, the Reuben brothers have a strong presence in the London property market and continue to make strategic investments in key locations throughout the city. Their extensive portfolio includes some of the most prestigious and sought-after properties in the capital.
Venture into Technology
David and Simon Reuben have not limited their business interests to property alone. They have also made a foray into the technology sector. The brothers have investments in various technology companies, which include data center business GlobalSwitch.
In December 2016, the Reuben brothers sold 49% of GlobalSwitch to a consortium of Chinese investors for £2.4 billion. GlobalSwitch is a leading provider of data centers in Europe and Asia-Pacific. The company has data centers in key locations such as London, Paris, Amsterdam, Frankfurt, Sydney, Singapore, and Hong Kong.
The Reuben brothers still own a controlling stake in GlobalSwitch and are involved in its operations. GlobalSwitch has continued to expand its data center capacity and services, with the Reuben brothers’ support.
The Reuben brothers’ interest in technology is not limited to GlobalSwitch. They have also invested in other technology companies, such as the London-based fintech firm, Trussle. Trussle is an online mortgage broker that uses technology to simplify the mortgage application process.
In addition to Trussle, the Reuben brothers have invested in several other technology companies, which include:
Lumi Technologies, a digital mortgage platform that provides end-to-end mortgage solutions.
WeGift, a digital gift card platform that allows businesses to buy and send gift cards to customers and employees.
Kinteract, a learning and assessment platform for schools that uses AI and data analytics to provide personalized learning experiences for students.
The Reuben brothers’ venture into technology has been successful, and their investments in various technology companies have yielded significant returns. They continue to explore opportunities in the technology sector and are open to investing in promising technology startups.
Football Consortium
David and Simon Reuben are part of a football consortium that is involved in the takeover of Newcastle United. The Reuben brothers, along with businesswoman Amanda Staveley, are reportedly backing the takeover bid of the Premier League club from current owner Mike Ashley.
The Reuben brothers’ involvement in the consortium is not surprising given their vast wealth and investment interests in various sectors, including property and internet. The consortium’s bid for Newcastle United is believed to be worth around £300 million.
The consortium’s bid has been met with mixed reactions from Newcastle United fans. On one hand, they are excited about the prospect of new ownership and the potential for investment in the team. On the other hand, there are concerns about the consortium’s lack of experience in football ownership and the potential for the club to become a plaything for wealthy investors.
Despite these concerns, the consortium’s bid for Newcastle United has been approved by the Premier League, and the Reuben brothers and their partners are now the new owners of the club. It remains to be seen how they will manage the team and whether they will be able to bring success to the club.
It is worth noting that the Reuben brothers have been involved in football ownership before. They were previously minority shareholders in Arsenal Football Club, and they also own a stake in the Indian Super League team Mumbai City FC. However, their involvement in the Newcastle United takeover represents their biggest foray into football ownership to date.
Personal Life
David and Simon Reuben are private individuals and do not disclose much about their personal lives. However, it is known that David Reuben is married to Debra Reuben and they have children together. Simon Reuben is also married.
The Reuben brothers are known for their extravagant lifestyle and own a number of luxurious assets. They own a private jet, which they use for business and personal travel. They also own a super yacht, which is worth £54 million and is named “Capri”. The yacht is equipped with a helipad, a cinema, and a gym.
In addition, the Reuben brothers have been involved in the nightclub industry. They owned the nightclub “Studio 54” in New York City in the 1980s. They also own a number of properties around the world, including a villa in the French Riviera.
Despite their immense wealth, the Reuben brothers are known for their philanthropy. They have donated millions of pounds to various charities and causes, including education, healthcare, and the arts. They have also established the Reuben Foundation, which supports a variety of charitable initiatives around the world.
Philanthropy
The Reuben brothers have a long history of philanthropy, with a particular focus on healthcare, education, and community development. Through the Reuben Foundation, the brothers have donated millions of pounds to support various charitable causes around the world.
One of the foundation’s key areas of focus is healthcare, and it has made significant contributions to hospitals and medical research centres in the UK and beyond. For example, in 2021, the foundation donated £5 million to the Chelsea and Westminster Hospital to create a new centre for young people’s health. The centre will provide a range of services, including mental health support, sexual health advice, and substance abuse treatment.
The Reuben Foundation has also been a major supporter of education, with a particular emphasis on helping disadvantaged young people. In 2022, the foundation donated £10 million to the University of Oxford to create a new scholarship programme for students from low-income backgrounds. The programme will provide full funding for up to 50 students per year, covering tuition fees and living expenses.
In addition to these major donations, the Reuben brothers have also been involved in a range of smaller-scale philanthropic initiatives. For example, they have supported local community groups in their home city of London, providing funding for projects such as youth sports clubs and community centres.
Overall, the Reuben brothers’ philanthropic activities reflect their commitment to using their wealth and resources to make a positive difference in the world. Through their foundation and other charitable initiatives, they have demonstrated a deep and sustained commitment to supporting healthcare, education, and community development, and have made a significant impact on the lives of countless people around the world.
Controversies
David and Simon Reuben have been involved in several controversies over the years. One of the most notable controversies involved their business dealings with Russian oligarch Oleg Deripaska. In 2008, the Reuben brothers purchased a 7.4% stake in Deripaska’s aluminum company, Rusal, for £375 million. However, the investment was controversial due to Deripaska’s reputation for alleged links to organized crime and his close ties to the Russian government. The Reuben brothers eventually sold their stake in Rusal in 2012.
Another controversy involving the Reuben brothers was their business relationship with financier Nat Rothschild. In 2010, the Reuben brothers invested in Rothschild’s mining venture, Bumi Resources. However, the investment turned sour when allegations of financial irregularities and corporate governance issues surfaced. The Reuben brothers eventually sold their stake in Bumi Resources in 2013.
In 2010, the Reuben brothers were also linked to former British politician Peter Mandelson. It was reported that Mandelson had stayed on the Reuben brothers’ yacht in Corfu in 2008, while he was still a Cabinet minister. The incident caused controversy and led to accusations of a conflict of interest.
More recently, in 2021, the Reuben brothers were criticized for their involvement in the relocation of HM Revenue and Customs (HMRC) to a building in Newcastle that they owned. The building was reportedly purchased by the Reuben brothers through a tax haven in the British Virgin Islands. The move was controversial due to the Reuben brothers’ history of making large donations to the Conservative Party.
Despite these controversies, the Reuben brothers remain one of the wealthiest families in the UK, with a net worth of £18.6 billion as of 2023.
Current Status
David and Simon Reuben are British billionaires and property tycoons with a combined net worth of £16 billion, according to the Sunday Times Rich List 2023. The brothers were born in Bombay, India, to a Baghdadi Jewish family, and later moved to London where they began their business ventures.
The Reuben brothers own a vast property portfolio across the UK, including prime real estate in Chelsea, London, such as the Millbank Tower, and the John Lewis Partnership headquarters in Victoria. They also have interests in Monaco, Mumbai, and New York.
In addition to their property holdings, the Reuben brothers have also invested heavily in internet and technology companies. They were early investors in the internet auction site eBay, and have since diversified their portfolio to include investments in data centres, e-commerce, and fintech.
The Reuben brothers have been involved in several high-profile business deals in recent years. In 2023, they reworked their private credit bet on a Los Angeles real estate project, according to Bloomberg. They also made headlines for their donation to the Conservative Party in the UK, and for their ownership of a Newcastle office building leased by HM Revenue and Customs.
Despite their vast wealth, the Reuben brothers have faced criticism for their use of tax havens, including a Russian territory, to avoid paying taxes in the UK. In 2023, it was reported that the brothers paid just £20 million in tax in the UK, despite their vast fortune.
Overall, the Reuben brothers remain prominent figures in the world of business and property, with a portfolio that spans the globe.
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