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David Reuben and Simon Reuben Net worth [wpdts-years]

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Who are David Reuben and Simon Reuben?

Who are David Reuben (born 1941) and Simon Reuben (born 1944) are India-born British businessmen with a net worth of $7.5 billion as of 2022. They have various businesses across the Indian Subcontinent. Their business activities mainly involve real estate, both in the UK and abroad, venture capital, and private equity. 

As of 2022, David and Simon Reuben and their combined family had an estimated net worth of $7.5 billion. This made them Britain’s second wealthiest family behind Leonard Blavatnik

What do you know about David Reuben and Simon Reuben? Read on as we tell you more about this wealthy Briton family, their personal lives, source of wealth, net worth and 

Personal Details:

Full name

  • David Reuben
  • Simon Reuben

Age

  • 81
  • 78

Date of Birth

  • 1941
  • 1944

Place of Birth

Mumbai, India

Source of Wealth

Entrepreneurs: Real Estate and Technology

Residence

London, United kingdom

Citizenship

United States

Marital Status

Married

Spouse (s)

  • Simon – Joyce
  • David – Debra

Children

  • Simon – Lisa (1)
  • David – David Jnr.; Jamie (2)
Foundation

Reuben Foundation

Net Worth

$7.5B

Parents

  • David Sassoon Reuben (father)
  • Nancy Reuben (née Jiddah) (mother)

Early Life And Education

David Reuben  and Simon Reuben were born in 1941 and 1944 respectively. The brothers were born in Bombay, British India. Their parents are David Sassoon Reuben and Nancy Reuben, a Baghdadi Jewish family. They arrived in London in the 1950s with their mother, Nancy, and lived in Islington. However, they have both ran various businesses across the Indian Subcontinent from their bases in Bombay and Baghdad. The brothers attended state schools, with Simon never completing his formal education

How old are David Reuben and Simon Reuben?

  • David Reuben        81 years
  • Simon Reuben       78

Who are David Reuben and Simon Reuben and How much do they worth in 2022?

Career

The brothers have a rather humble beginning. David joined a scrap metals business while Simon started out in carpets. Later, 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. His early investments was in Walton Street and the King’s Road in Chelsea. The brothers increased their wealth  and built a fortune in real estate and technology.

In December 2016, they sold 49% of their data center business, GlobalSwitch, to a consortium of Chinese investors for nearly $3 billion.

Metals business

David Reuben and Simon Reuben started their investment in metals market in Russia in the early 1990s. When Russian aluminum smelters were bankrupt, Reuben company 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. As at then, the company’s investment in Russia stood at US$1.5 billion (GB£870 million), and global sales rose above US$8 billion in 1995.

The brothers were involved with several members of the country’s new oligarchy, including Roman Abramovich. They settled a multimillion-pound legal dispute with Oleg Deripaska with a settlement being awarded to Reuben Brothers.

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.

Going forward, the brothers sold all their assets in Russia and focused their business activities mainly in the UK property market, They have been involved in financing a number of acquisitions and have investments in technology companies . Beginning from 2016, their business focused further narrowed to real estate, both in the UK and abroad.  They own venture capital and private equity.

Real estate

Reuben Brothers own several properties in the UK. Their array of properties include Millbank Tower, the John Lewis Partnership (Headquarters: Victoria); the American Express (Victoria); Carlton House SW1; Academy House on 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, 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 1,800,000 sq ft (170,000 m2) 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 and London Heliport. In 2006, the Reuben Brothers formed a partnership that injected private equity into the FTSE-listed McCarthy & Stone, a retirement home construction company, exiting from that investment in 2013.

Other investments

The Reuben Brothers also have a number of other investments, including sports. They are  investors in luxury leisure group Belmond Ltd., Travelodge Hotels; D2 Jeans and Blue Inc clothing retailers, with retailer Sir Stuart Rose.

Takeover of Newcastle United

On 14 April 2020, Reuben Brothers were involved in a deal to transfer ownership of Newcastle United Football Club from the incumbent owner Mike Ashley to prospective buying consortium. The prospective buyers included the Reuben Brothers, Amanda Staveley’s PCP Capital Partners, and the Public Investment Fund of Saudi Arabia. Although the deal was initially refused by  the premier league, the buy-out was finally approved on October 7, 2021. The buy-out deal saw 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

The Reuben Foundation and Philanthropy

The family owns a foundation called Reuben Foundation. Their Foundation funds health care and educational causes, focusing on the advancement of healthcare and education.

The family also founded the Nancy Reuben Primary School, an independent Jewish day school in Hendon in honour of their mother.

The foundation has donated £80 million to support the creation of Reuben College, Oxford, originally named Parks College. It will be a post-graduate college focused on climate change, artificial intelligence and cellular life.

Conclusion

David Reuben (born 1941) and Simon Reuben (born 1944) are India-born British businessmen with a net worth of $7.5 Billion in 2022. David and Simon Reuben and their combined family had an estimated net worth of $7.5 billion as at 2022. This made them Britain’s second wealthiest family behind Leonard Blavatnik according to Forbes

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