David and Simon Reuben: Difference between revisions - Wikipedia
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| caption = Simon & David Reuben, pictured in 2009
| birth_name =
| birth_date = Simon{{spaced endash}}{{birth year and age|1941}}<br />David{{spaced endash}}{{birth year and age|1944}}
| birth_place = Bombay, British India
| death_date = <!-- {{Death date and age|YYYY|MM|DD|YYYY|MM|DD}} (death date then birth date) -->
| death_place =
| citizenship =
| nationality = [[British people|British]]
| other_names =
| occupation = Property investors
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| mother = Nancy Reuben (née Jiddah)
}}
'''David Reuben''' (born 1941) and '''Simon Reuben''' (born 1944) are [[British people|British]] [[businessmen]]. In 20232024, they were named as the fourth third-richest family in the UK by the ''[[Sunday Times Rich List]]'', with a net worth of £24.4 9 billion.<ref name=":0">{{Cite news |date=2023 |title=UKThe RichSunday ListTimes 2021Rich revealed - who's made billions more during thelist pandemic?2024 |website=[[The Sunday Times]] |url=https://www.thetimes.co.uk/sunday-times-rich-list |access-date=2927 NovemberMay 20212024}}</ref>
==Early life and background==
The brothers were born in [[Bombay]], [[British India]], the sons of David Sassoon Reuben and Nancy Reuben,<ref name="rfdn-nancy">{{cite web |url=http://www.reubenfoundation.com/nancy-reuben-primary-school/ |title=Nancy Reuben Primary School|publisher=[[Reuben Foundation]] |date=2014 |access-date=10 June 2016 }}</ref> a [[Baghdadi Jewish]] family.<ref name=tatler>{{cite web|url=http://www.reubenbrothers.com/mayfairs-first-family/|title=Mayfair's First Family |work=[[Tatler]] |publisher=reproduced in the Reuben Brothers website |date=October 2013 }}</ref> Their father went to Bombay from Iraq to secure work in the textile industry.<ref>{{Cite web |title=Reuben brothers: The super-rich, Mumbai-born entrepreneurs you probably haven't heard of |url=https://www.moneycontrol.com/news/trends/features/brothers-reuben-the-super-rich-mumbai-born-entrepreneurs-you-probably-havent-heard-of-8045651.html |access-date=2023-01-16 |website=Moneycontrol |date=6 February 2022 |language=en}}</ref> Following their parents' separation, the brothers moved to London in the 1950s with their mother, and due to the change in financial circumstances, the brothers attended state schools and lived in [[London Borough of Islington|Islington]], North London,<ref>{{Cite web |date=2022-05-21 |title=Inside The Reuben Brothers' Aviation Empire! {{!}} International Aviation HQ |url=https://internationalaviationhq.com/2022/05/21/reuben-brothers-aviation/ |access-date=2023-01-16 |language=en-US}}</ref> with Simon never completing his formal education.<ref name="yahoo2014">{{cite news |work=[[Yahoo!|Yahoo! Finance]] |title=How Britain's richest brothers made billions from nothing |url=https://uk.finance.yahoo.com/news/how-britain-s-richest-brothers-made-billions-from-nothing-180004118.html |archive-url=https://web.archive.org/web/20140315023618/http://uk.finance.yahoo.com/news/how-britain-s-richest-brothers-made-billions-from-nothing-180004118.html |url-status=dead |archive-date=15 March 2014 |date=12 March 2014 |access-date=10 June 2016 |author=Lunn, Emma }}</ref>
==Careers==
David joined a [[scrap metal]]s business while Simon started out in carpets. Simon went on to buy out England's oldest carpet company from the receivers and made enough money from it to start investing in property, with early investments on [[Walton Street, London|Walton Street]] and the King's Road in [[Chelsea, London|Chelsea]].<ref name="yahoo2014"/>https://web.archive.org/web/20140315023618/http://uk.finance.yahoo.com/news/how-britain-s-richest-brothers-made-billions-from-nothing-180004118.html {{deadBare linkURL inline|date=NovemberAugust 20212024}}</ref> The brothers increased their wealth during the 1970s and 1980s in metals- and property trading.{{citation needed|date=June 2020}}
===Metals business===
In the early 1990s, the brothers invested in the Russian metals market.<ref name=russia>{{cite news |url=https://www.theguardian.com/business/2004/jun/27/russia |title=Pack up your roubles ...|work=[[The Guardian]] |author=Robinson, James |date=27 June 2004 |access-date=13 November 2021}}</ref> When Russian [[aluminum]] [[smelter]]s were incapacitated by debt, Reuben's company [[Trans-World Group|Trans -World]] entered into tolling arrangements with factories in which they paid for and delivered raw materials in return for finished aluminum, which it then sold for profit.<ref name=BeharFortune>{{cite news |last=Behar |first=Richard |author-link=Richard Behar |url=https://archivemoney.fortunecnn.com/magazines/fortune/fortune_archive/2000/06/12/281972/index.htm |title=Capitalism in a cold climate|language=en |work=[[Fortune (magazine)|Fortune]] |date=12 June 2000 |access-date=13 November 2021 |archive-date=19 October 2014 |url-status=live |archive-url=https://web.archive.org/web/20141019043548/https://archive.fortune.com/magazines/fortune/fortune_archive/2000/06/12/281972/index.htm |quote=The story of Trans World's aluminum empire is filled with bribes, shell companies, profiteers, and more than a few corpses. Then again, in today's Russia, that's pretty much par for the course.}}</ref> The company's investment in Russia was {{USD}}1.5 billion ({{GBP}}870 million), with global sales in 1995 above {{USD}}8 billion.<ref name=russia/> TransWorld was accused of involvement in illegal activities, including several murders.<ref name="ciacc">{{cite news |date=12 June 2000 |title=Capitalism In A Cold Climate |url=https://money.cnn.com/magazines/fortune/fortune_archive/2000/06/12/281972/index.htm#update |url-status=live |archive-url=https://web.archive.org/web/20141019043548/http://archive.fortune.com/magazines/fortune/fortune_archive/2000/06/12/281972/index.htm#update |archive-date=2014-10-19 |access-date=8 October 2018 |work=Fortune Magazine}}</ref><ref name="latynina01">{{cite news |last1=Latynina |first1=Yulia |date=14 November 2001 |title=Parachute Accident Marks End of an Era |url=http://old.themoscowtimes.com/sitemap/free/2001/11/article/parachute-accident-marks-end-of-an-era/250314.html/ |url-status=live |archive-url=https://web.archive.org/web/20190202041651/http://old.themoscowtimes.com/sitemap/free/2001/11/article/parachute-accident-marks-end-of-an-era/250314.html/ |archive-date=2 February 2019 |accessdate=8 October 2018 |work=The Moscow Times}}</ref><ref name="barker08">{{cite news |last1=Barker |first1=Alex |date=2008-10-21 |title=Osborne on the Oligarchs |url=https://www.ft.com/content/55fc29ca-1d20-3932-9bb1-ef66b1e1ce97 |url-status=live |archive-url=https://web.archive.org/web/20220824101609/https://www.ft.com/content/55fc29ca-1d20-3932-9bb1-ef66b1e1ce97 |archive-date=2022-08-24 |access-date=24 August 2022 |work=Financial Times}}</ref> The brothers were involved with several members of the country's new [[oligarchy]], including [[Roman Abramovich]].<ref name=russia/> They settled a multimillion-pound legal dispute with [[Oleg Deripaska]] with a settlement being awarded to [[Reuben Brothers]].
In 1997, Russia's Interior Minister [[Anatoly Kulikov]] linked both the [[Michael Cherney|Cherney]] brothers and Reuben brothers to the [[Izmaylovskaya gang|Izmaylovskaya mafia]] led by [[:ru:Малевский, Антон Викторович|Anton Malevsky]] in Israel. In March 1998, [[Boris Yeltsin]] replaced Kulikov as minister.<ref name=BeharFortune/>
In 2008, the Reuben brothers returned to the commodity business, expanding their mining interests with a portfolio of mines in [[Morocco]], [[Indonesia]], and [[South Africa]].<ref name="yahoo2014"/>{{dead link|date=November 2021}}
===Present activities===
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UK properties owned by the Reuben Brothers include: [[Millbank Tower]]; the [[John Lewis Partnership]] headquarters in [[Victoria, London|Victoria]]; the [[American Express]] offices also in Victoria; Carlton House [[SW postcode area|SW1]]; Academy House on [[Sackville Street (London)|Sackville Street]]; Connaught House on [[Berkeley Square]]; Market Towers; the London Primark store on Oxford Street; [[Sloane Street]] shops; and [[Cambridge House]], the former premises of the [[Naval and Military Club]],<ref name="yahoo2014"/>{{dead link|date=November 2021}} which comprises six freehold buildings which have a planning consent for a six-star hotel and private members' club.
Other investments and developments include Merchant Square, a {{convert|1800000|sqft|m2|abbr=on}} development scheme of offices and flats, in the [[Paddington]] area of London; [[Park Plaza Hotels & Resorts]], a 50/50 joint venture in a new apart-hotel under the 'art'otel' brand in [[Hoxton]], [[City of London]]; Hampton House, demolition and redevelopment of the 1960s office block opposite [[Tate Britain]] that was designed by [[Foster & Partners]] and features a mix of apartments and an apart-hotel on the [[River Thames]] next to the Park Plaza London Riverbank hotel; airports at [[London Oxford Airport|London Oxford]] and [[London Heliport]].<ref name="yahoo2014"/>{{dead link|date=November 2021}} In 2006, the Reuben Brothers formed a partnership that injected private equity into the [[FTSE 100 Index|FTSE]]-listed [[McCarthy & Stone]], a [[retirement home]] construction company, exiting from that investment in 2013.<ref>{{cite news|url=http://www.theconstructionindex.co.uk/news/view/new-mccarthy-and-stone-boss-wields-the-axe|title=New McCarthy & Stone boss wields the axe|work=Construction Index|date= 6 March 2014|access-date=10 February 2016}}{{failed verification|date=November 2021}}</ref>{{failed verification|date=November 2021}}
====Aldergate Investments====
{{BLP unsourcedunreferenced section|date=November 2021}}
The Reuben Brothers invested in luxury leisure group [[Belmond (company)|Belmond Ltd]] in 2007, and sold their share in 2019 for £233 million.<ref>{{Cite web |last=Hodgson |first=Joanna |date=2019-01-16 |title=Payday for Reuben brothers after selling out of Belmond |url=https://www.standard.co.uk/business/payday-for-reuben-brothers-after-selling-out-of-belmond-a4040556.html |access-date=2023-01-16 |website=Evening Standard |language=en}}</ref> Other holdings include [[Travelodge Hotels]]; D2 Jeans and [[Blue Inc]] clothing retailers, with retailer [[Sir Stuart Rose]]; Luup and [[Metro Bank (UK)|Metro Bank]]; The Wellington Pub Company, the largest free-of-tie pub estate in the UK with approximately 850 tenanted pubs; Global Switch, the carrier data centre provider in [[Europe]] and the [[Asia-Pacific]] region; and a joint venture with [[British Marine]], that in 2014 had eight vessels with plans to double the fleet size.<ref name="yahoo2014"/>{{dead link|date=November 2021}}
====Sport====
=====Takeover of Newcastle United=====
{{Main|2021 takeover of Newcastle United}}
On 14 April 2020, it emerged that a deal to transfer ownership of [[Newcastle United Football Club]] had been agreed between incumbent owner [[Mike Ashley (businessman)|Mike Ashley]] and a prospective buying consortium consisting of Reuben Brothers, [[Amanda Staveley|Amanda Staveley's PCP Capital Partners]], and the [[Public Investment Fund|Public Investment Fund of Saudi Arabia]].<ref>{{cite news|url=https://www.bbc.co.uk/sport/football/52284645 |title= Newcastle United takeover deal worth £300m close |work= BBC Sport |accessdate=2020-08-14}}</ref> The [[Premier League]] initially refused to ratify the deal, and Mike Ashley engaged in legal proceedings against the Premier League in order to complete the takeover.<ref>{{cite web|url=https://www.skysports.com/amp/football/news/11678/12071622/newcastle-hire-lawyers-in-dispute-with-premier-league-over-failed-saudi-led-takeover |title= Newcastle hire lawyers in dispute with Premier League over failed Saudi-led takeover|publisher= Sky Sports |accessdate=2020-09-21}}</ref><ref>{{cite web|url= https://www.bt.com/sport/news/2021/may/newcastle-take-premier-league-to-competition-tribunal-over-takeover-collapse |title= Newcastle take Premier League to competition tribunal over takeover collapse |publisher= BT Sport |accessdate=2021-08-08}}</ref> On 7 October 2021, the Premier League approved the buy-out, stating that it has "received legally binding guarantees that the Kingdom of Saudi Arabia will not control the Newcastle United club".<ref name=app>{{cite news |date=8 October 2021 |title=English Premier League approves Saudi buyout of Newcastle United|url=https://www.euronews.com/2021/10/07/english-premier-league-approves-saudi-buyout-of-newcastle-united |work=[[Euronews]] |access-date=2021-10-17}}</ref> The buy-out deal involved the Saudi Public Investment Fund taking up 80% of Newcastle United shares, while the Reuben Brothers and PCP Capital Partners each took 10% of the remaining shares.<ref>{{cite web|url=https://www.nufc.co.uk/news/latest-news/pif-pcp-capital-partners-and-rb-sports-media-acquire-newcastle-united-football-club/ |title=PIF, PCP Capital Partners and RB Sports & Media acquire Newcastle United Football Club |access-date=7 October 2021 |website=Newcastle United|date=7 October 2021 }}</ref>
=====Arena Racing Company=====
{{Main|Arena Racing Company}}
'''Arena Racing Company''', also called '''ARC Racing and Leisure Group''' is a UK [[private company]], created in 2012 by the merger of [[Arena Leisure]] and [[Northern Racing]].<ref name=Tele>
{{cite news|url-access=subscription |title=The shadow behind the British Horseracing Authority's good news on prize money |author=Brooks, Charlie |url=https://www.telegraph.co.uk/sport/horseracing/9701534/The-shadow-behind-the-Britsh-Horseracing-Authoritys-good-news-on-prize-money.html |newspaper=[[The Daily Telegraph]] |date=25 November 2012 |access-date=22 April 2013}}</ref> It owns and operates 16 [[racecourse]]s in [[Great Britain]], accounting for 39% of British racing fixtures.<ref name=ARC/> It operates hotels at [[Doncaster Racecourse]], [[Wolverhampton Racecourse]] and [[Lingfield Park Racecourse]], and [[golf course]]s at Lingfield, [[Southwell Racecourse|Southwell]] and [[Newcastle Racecourse|Newcastle]].<ref name=ARC>
{{cite web |url=http://www.arenaracingcompany.co.uk/our-company/ARC |title=Arena Leisure Company |publisher=Arena Leisure Company |access-date=22 April 2013}}</ref>
==== Entertainment ====
On 19 August 2024, Reuben Brothers acquired a strategic stake in [[EDGLRD]], an entertainment company founded by filmmaker [[Harmony Korine]].<ref>{{Cite news |last=Hellier |first=David |date=19 August 2024 |title=Reuben Brothers Agree to Buy Stake in Media Studio EDGLRD |newspaper=Bloomberg |url=https://www.bloomberg.com/news/articles/2024-08-19/reuben-brothers-agree-to-buy-stake-in-media-studio-edglrd}}</ref>
==Controversial statement by London mayor==
In 2006 [[Ken Livingstone]], the [[Mayor of London]] at the time, used a press conference to accuse Simon and David Reuben of jeopardising the £4 billion [[Queen Elizabeth Olympic Park|Olympic City]] development, in which the Reuben brothers held a 50% stake. Livingstone controversially told the media conference, referring to the Reuben brothers, that "If they're not happy here, they can go back to [[Iran]] and try their luck with the [[ayatollah]]s, if they don't like the planning regime or my approach." [[Conservative Party (UK)|Conservative]] members of the [[London Assembly]] stated the brothers were not Iranian, but had been born in British India of Iraqi-Jewish parents.<ref>{{cite news |url=http://news.bbc.co.uk/2/hi/uk_news/england/london/4830878.stm |title=Mayor in fresh Jewish controversy |work=[[BBC News]] |date=21 March 2006 |access-date=10 June 2016 }}</ref> After a public complaint and a subsequent official investigation into Livingstone's comments, the investigating officer dismissed the complaint and concluded that Livingstone had reason to be strongly critical of the Reuben brothers' conduct, and that his criticism, whilstwhile "robust," was "reasonable" in the circumstances.<ref name="livingston1">{{cite news |date=20 June 2006 |title=Livingstone cleared of anti-semitism |work=[[The Guardian]] |agency=Press Association |location=United Kingdom |url=https://www.theguardian.com/politics/2006/jun/19/london.london |access-date=10 June 2016}}</ref>
==The Reuben Foundation==
The family's [[philanthropy|philanthropic]] vehicle, the [[Reuben Foundation]], is focused on the advancement of healthcare and education.<ref name="forbes2016">{{cite news|url=https://www.forbes.com/profile/david-simon-reuben/?list=billionaires|title=#60 David & Simon Reuben|date=October 2010|work=[[Forbes]]}}</ref>
The family founded the '''Nancy Reuben Primary School''', an independent Jewish day school in [[Hendon]] in honour of their mother.<ref>{{cite web |title=Who is Nancy Reuben? |url=http://www.nrps.co.uk/about-us/who-is-nancy-reuben |website=Nancy Reuben Primary School}}</ref>
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==Personal life==
According to the ''[[Sunday Times Rich List]]'' 20202023, David and Simon Reuben and their combined family had an estimated net worth of £16 billion, a decrease of £224.664 4 billion on the previous year. This made them Britain's secondfourth wealthiest family.<ref name=":0" />
''[[The Times]]'' has reported that the brothers' businesses make extensive use of offshore [[tax haven]]s. A spokesperson said that their businesses "fully comply with UK tax laws".<ref name="et">{{cite web|url=https://economictimes.indiatimes.com/nri/nris-in-news/india-born-reuben-brothers-in-uks-new-tax-haven-elite-list/articleshow/68304464.cms|title=India-born Reuben brothers in UK's new Tax Haven Elite list|work=Economic Times|date=7 May 2019|access-date=16 June 2020}}</ref>
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{| class="wikitable"
! rowspan=2 | Year
! colspan=2 width=40% | ''[[Sunday Times]]''<br />[[Sunday Times Rich List|Rich List]]
! colspan=2 width=40% | ''[[Forbes]]''<br />{{nowrap|[[The World's Billionaires]]}}
|-
! Rank
! [[Net worth]]<br />({{GBP}}) [[1,000,000,000|bn]]
! Rank
! [[Net worth]]<br />({{USD}}) [[1,000,000,000|bn]]
|-
| 2006<ref name="Forbes-2006">{{cite news |url=https://www.forbes.com/lists/2006/10/IWRB.html |title=#185 David & Simon Reuben |work=[[Forbes]] |date=2006 |access-date=9 June 2015 }}{{failed verification|date=November 2021}}</ref>{{failed verification|date=November 2021}}
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| align="right" | $4.50 {{increase}}
|-
| 2008<ref name="strl2008">{{cite news |url=http://business.timesonline.co.uk/tol/business/specials/rich_list/article3822711.ece |archive-url=https://archive.today/20080518033830/http://business.timesonline.co.uk/tol/business/specials/rich_list/article3822711.ece |url-status=dead |archive-date=18 May 2008 |title=Rich List reveals wealthy reap profits under Labour |work=[[The Sunday Times]] |date=27 April 2008 |editor1=Beresford, Philip |editor1-link=Philip Beresford|url-access=subscription }}</ref><ref name="Forbes-2008">{{cite news |url=https://www.forbes.com/lists/2008/10/billionaires08_David-Simon-Reuben_IWRB.html |title=#178 David & Simon Reuben |work=[[Forbes]] |date=5 March 2008 |access-date=9 June 2015 }}{{failed verification|date=November 2021}}</ref>{{failed verification|date=November 2021}}
| align="center" | {{nts|10}} {{decrease}}
| align="right" | £4.30 {{increase}}
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| align="right" | $5.50 {{increase}}
|-
| 2009<ref name="strl2009">{{cite news|url-access=subscription |url=http://business.timesonline.co.uk/tol/business/specials/rich_list/article6169048.ece |archive-url=https://web.archive.org/web/20090502101049/http://business.timesonline.co.uk/tol/business/specials/rich_list/article6169048.ece |url-status=dead |archive-date=2 May 2009 |title=Sunday Times Rich List: Bonfire of the billionaires wipes out £155bn fortune |work=[[The Sunday Times]] |date=26 April 2009 |editor1=Beresford, Philip |editor1-link=Philip Beresford }}</ref><ref name="Forbes-2009">{{cite news |url=https://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_David-Simon-Reuben_IWRB.html |title=#98 David & Simon Reuben |work=[[Forbes]] |date=11 March 2009 |access-date=9 June 2015 |archive-date=9 March 2016 |archive-url=https://web.archive.org/web/20160309195529/http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_David-Simon-Reuben_IWRB.html |url-status=dead }}</ref>
| align="center" | {{nts|9}} {{increase}}
| align="right" | £2.50 {{decrease}}
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| align="right" | $5.00 {{decrease}}
|-
| 2010<ref name=Rubble>{{cite news |url=http://business.timesonline.co.uk/tol/business/specials/rich_list/article7107182.ece |archive-url=https://web.archive.org/web/20110611214558/http://business.timesonline.co.uk/tol/business/specials/rich_list/article7107182.ece |url-status=dead |archive-date=11 June 2011 |title=The Sunday Times Rich List 2010: Rising from the rubble |work=[[The Sunday Times]] |date=25 April 2010 }}</ref><ref name="Forbes-2010">{{cite news |url=https://www.forbes.com/lists/2010/10/billionaires-2010_David-Simon-Reuben_IWRB.html |title=#93 David & Simon Reuben |work=[[Forbes]] |date=10 March 2010 |access-date=9 June 2015 }}{{failed verification|date=November 2021}}</ref>{{failed verification|date=November 2021}}
| align="center" | {{nts|5}} {{increase}}
| align="right" | £5.53 {{increase}}
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==References==
{{Reflist|30em|refs=
<!--unused<ref name="israeltimes2016">{{cite news |url=http://www.timesofisrael.com/jewish-brothers-top-britains-2016-rich-list/|title=Jewish brothers top Britain’sBritain's 2016 Rich List|work=[[The Times of Israel]]|date=24 April 2016 |access-date=10 June 2016 }}</ref>-->
}}
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{{DEFAULTSORT:Reuben, David And Simon}}
[[Category:ReubenDavid Brothersand Simon Reuben|*]]
[[Category:Living people]]
[[Category:Year of birth missing (living people)]]
[[Category:British billionaires]]
[[Category:British expatriates in Monaco]]
[[Category:British businesspeople in real estate businesspeople]]
[[Category:British Jews]]
[[Category:British people of Iraqi-Jewish descent]]
[[Category:Businesspeople from London]]