Reuben brothers' extraordinary wealth revealed as Newcastle United owner Mike Ashley adds £789m to personal fortune
Mike Ashley’s personal fortune has soared during the coronavirus pandemic, according to the Sunday Times’s Rich List.
Ashley – who is trying to push through a £300million sale of Newcastle United to a consortium led by financier Amanda Staveley and backed by Saudi Arabia’s sovereign wealth fund – is the founder and majority owner of the Frasers Group retail empire.
And the Sunday Times claim that his personal fortune has risen £769million to £2.718billion over the past 12 months. This puts him No.61 on the list of the country’s wealthiest people, up 14 places from last year.
Meanwhile, David and Simon Reuben, part of Staveley’s takeover consortium, have increased their wealth by £5.465billion to £21.465billion over the same period.
The Reuben brothers – who embarked on a buying spree during the pandemic, and snapped up undervalued properties and hotels – are second in the list. They hope the takeover of United can be resurrected.