- David and Simon Reuben
David and Simon Reuben are well known British businessmen and philanthropists. In the Forbes magazine List of billionaires 2011, ranking of the wealthiest people in the UK, the brothers were placed second with an estimated fortune of £5.5 billion ($8.5 billion). They are joint Chief Executives of Reuben Brothers.
Early life and career
The brothers were born in Mumbai to a Jewish business family. The brothers increased their fortune during the 1970s and 1980s in both metals trading and property. Nearly half their fortune is in liquid assets such as cash and bonds. They are not keen on publicity, but provide some details about their many interests on their personal website.
In the early 1990s the brother invested in the Russian metals market, financing significantly the production and distribution of metals. The Reubens became the world's third-biggest producer of a metal.
At its peak, their company, Trans-World Metals, and its associates controlled five percent of the world's aluminium output. When Russian aluminium smelters were incapacitated by debt. Trans World entered into tolling arrangements with factories in which they paid for and delivered raw materials in return for finished aluminium, which it then sold for profit. The company's investment in Russia was $1.5 billion (£870 million), with global sales in 1995 topping $7 billion.
Their former status as Russia's biggest foreign investors means they are forced to endure more press scrutiny than they would like to. During their 10 years in the country, the Reuben's did business with some unconventional characters. They also came across several members of the country's new oligarchy, including Roman Abramovich, now owner of Chelsea F.C.
In 2005 they settled a multi-million pound legal dispute with Oleg Deripaska which resulted in a substantial settlement being awarded to the Reubens.
Other Business and Activities
By 2000, the Russian business environment was turning sour for them and they sold all their Russian assets and focused their business activities mainly in the UK property market, where they have a substantial portfolio of debt free assets. With others, they have been involved in financing a number of major acquisitions and also have investments in technology companies. They are always looking out for new investments, increasingly across Europe.
The Wellington Pub Company (the largest free-of-tie pub estate in the UK with approximately 850 tenanted pubs) and Global Switch, (the data centre business) form part of the Reuben Brothers group of companies.
More recently Reuben Brothers returned to the metals business acquiring the metal trading company Metalloyd. Since then Reuben Brothers have moved to expand their mining interests around the world.
The regeneration of the Paddington area of London involves a 1,800,000 sq ft (170,000 m2) development scheme of offices and flats. They will include a 43-story residential tower - the tallest in the West End, where traditionally it has been hard to obtain planning permission for skyscrapers. Called Merchant Square, it will have 559 flats and more than 600,000 sq ft (56,000 m2) of office space. The project is part of an estimated 8 m sq ft of development round the railway station, much of which has already been built. An estimated 30,000 people will eventually work there.
Aldersgate Investments Limited, a Reuben Brothers vehicle, entered a 50:50 joint venture with Park Plaza Hotels Limited to develop a new apart-hotel under the 'art'otel' brand in Hoxton, in the City of London.
The Reuben Brothers have been given the go-ahead to build three towers opposite Tate Britain. The development features a mix of apartments and an apart-hotel on the River Thames next to the Riverbank Park Plaza hotel. The development, designed by Foster & Partners, will see 1960s office building Hampton House demolished and replaced with the three towers, the highest of which stands at 27 stories.
Some of the Reuben's more significant UK Property's include: Millbank Tower; the John Lewis headquarters in Victoria; the American Express offices in Victoria; Carlton House SW1; Academy House on Sackville Street; Connaught House on Berkeley Square; Market Towers; and prime Sloane Street shops.
Reuben Brothers purchased the iconic Piccadilly estate, better known as the In and Out club, which comprises six freehold buildings, which have a planning consent for a six-star hotel and private members’ club
The centres currently total around 3,000,000 sq ft (280,000 m2) of floor space and are occupied by a broad range of customers, global and national, large and small including government organisations, financial institutions, enterprises, global systems integrators, telecommunication carriers, managed service providers and other hosting businesses. Various initiatives are underway which will increase the overall floor space to around 4,000,000 sq ft (370,000 m2). Global Switch's chairman is John Corcoran, a former Multiplex executive, who has been with the company since 2007.
The family are well known for philanthropy and have a charitable wing, The Reuben Foundation, which donates mainly in the healthcare and education sectors through a initial endowment of $100 million. The family are active in the running of the foundation.
> 2004 The Reuben Foundation completed a multimillion pound project to build a school in North London, the school is called the N.Reuben primary school named after their mother. N Reuben School has over 250 students currently enrolled and was given a "stellar" report by Ofsted
> 2005 The Reuben Foundation opened the largest breast cancer unit in the Meir hospital in Israel servicing both the Jewish and Arab community.
> 2010 The Reuben Foundation together with Virgin Unite launched 'The Haiti Project' which raised substantial funds for the relief effort.
> 2011 The Reuben Foundation together with the Mayor of London and Mayor of New York launched the Team London programme through a multi-million pound endowment, to encourage volunteering across London
The Reuben Foundation also contributes to the Royal Marsden and The Princess Royal Trust for Carers. The foundation also sponsored the Daily Telegraph spirit of the community awards and are patrons of Tickets For Troops. The Foundation also actively supports the Prince's Trust and the Royal Parks Fund
The Reuben brothers cling tightly to their privacy. Simon Reuben, three years younger than his brother David, has given only one interview to a British publication in his entire career and that was more a case of finding himself in a room with a journalist and having to make polite conversation.
One friend, who spends time with Simon at the Isle de France Hotel in St Barts, said they are "trustworthy and really rather shy." And an executive who works closely with them said: "People often say that they are secretive but it's more a case of being very private. They are just not ostentatious people. David is the trader and Simon is the investor. They work brilliantly together. They are quite different. For example, David is a technophile and loves gadgets while Simon is completely the opposite. But I have been with them when they finish sentences for each other. In a business sense, they are incredibly smart and have a reputation for never having overpaid for anything."
In 2005, they won the Variety Club 'entrepreneurs of the year' award.
Both Reuben brothers are married with children. They both follow Chelsea FC.
- ^ "Report of an investigation under section 59 of the Local Government Act 2000 by Peter Keith-Lucas, acting as investigating officer, into an allegation concerning Mr. Ken Livingstone, the Mayor of London" (PDF). http://www.london.gov.uk/assembly/stndsmtgs/2006/stdjun27/item04a.pdf.
- ^ "Reuben Brothers official website". http://www.reubenbrothers.com.
- David and Simon Reuben
- Profile in The Guardian
Wikimedia Foundation. 2010.
Look at other dictionaries:
Reuben — or Ruben may refer to: *Reuben sandwich *Reuben (band), a British rock band *Reuben (Bible), *Reuben ( Lilo Stitch ), a character in Lilo Stitch: The Series * Reubens, Idaho *Reuben, a character from Final Fantasy Mystic Quest People with the… … Wikipedia
Reuben Noble-Lazarus — Personal information Full name Reuben Courtney Noble Lazarus Date of birth 16 August 1993 … Wikipedia
Simon Kapwepwe — Simon Mwansa Kapwepwe (12 April 1922 ndash; 26 January 1980) was the first vice president of Zambia from 1967 to 1970. Early life Simon Kapwepwe was born on 12 April 1922 in the Chinsali district of the Northern Province of Northern Rhodesia… … Wikipedia
Victoria and Albert Museum — Coordinates: 51°29′48″N 0°10′19″W / 51.496667°N 0.171944°W / 51.496667; 0.171944 … Wikipedia
Calvin and Hobbes — took many wagon ride … Wikipedia
MEDICINE AND LAW — This article is arranged according to the following outline: introduction Judicial Decision – A Value Determination the values of a jewish and democratic state in the image of god PHYSICIAN S DUTIES AND PATIENTS RIGHTS the physician and the judge … Encyclopedia of Judaism
TRAVELERS AND EXPLORERS — In the ninth century Jewish traders known as Radaniya traded between Western Europe and China, by land and sea. They were fluent in several languages and dealt in female and boy slaves, eunuchs, brocades, furs such as beaver and marten, and… … Encyclopedia of Judaism
Recurring characters of Home and Away — The following is a list of recurring characters that appear or have appeared on the Seven Network soap opera Home and Away. Recurring characters who later became regular characters are not included, neither are characters that were regular and… … Wikipedia
List of Home and Away characters (2011) — The following is a list of characters that first appeared or will appear in the Australian soap opera Home and Away in 2011, by order of first appearance. All characters are introduced by the shows series producer Cameron Welsh. The 24th season… … Wikipedia
List of fictional clergy and religious figures — Clergy and other religious figures have generally represented a popular outlet for pop culture, although this has tapered in recent years. Some of the more popular clergy, members of religious orders and other religious personages featured in… … Wikipedia