Newcastle United takeover: Who are the Reuben Brothers? The big-spending billionaires forming part of the £300m Saudi deal
With the Newcastle United takeover to go through today, we take a closer look at the key players behind the deal.
WHO ARE DAVID AND SIMON REUBEN AND HOW DID THEY MAKE THEIR MONEY?
The brothers were born in Bombay, but made their money on English shores.
They initially began out in separate industries, with David focusing on scrap metal and Simon investing in the carpet business. Their initial returns allowed them to begin investing in real estate – which is where the majority of their fortune continues to come from.
Investments in the metal industry also paid substantial dividends for the pair, but it is from their property ownership and development that they have garnered most of their substantial wealth.
WHAT WILL THEIR ROLE BE AT NEWCASTLE UNITED?
The pair are set to take a ten per cent stake in the club – but little is yet known about how involved, or otherwise, they will be.
Given they have lived a low-key lifestyle for the majority of their business lives, it is unlikely that they would want to be featured in the public eye too heavily.
HAVE THEY INVESTED IN SPORT BEFORE?
The Reuben Brothers hold an interest in racing channel ‘At The Races’, but don’t hold shareholdings in any other sporting clubs.
It’s an industry they are yet to really venture into – although that could all be about to change.
HOW MUCH ARE THEY WORTH?
According to the Sunday Times Rich List – which was most recently published in May 2019 – the Reuben Brothers are worth £18.66billion.
That places them as the second richest family in the United Kingdom.