From scrap metal and carpets to the second-richest family in British history
In short: Born in Bombay and raised in North London, the Reuben brothers built a multi-billion pound empire through metals, property, and high-stakes international trade. Their journey from state schools to the heights of the Sunday Times Rich List is a masterclass in aggressive global investment.
The ascent of David and Simon Reuben is marked by a transition from niche commodities to massive real estate holdings. After starting in scrap metals and carpets, the brothers expanded their wealth during the 1970s and 1980s through metals and property trading. By 2026, the Sunday Times Rich List named them the second-richest family in British history, with a net worth of £27.9 billion.
Their expansion into the Russian metals market in the early 1990s brought both immense profit and significant controversy. Through their company, Trans-World, they invested US$1.5 billion in Russia, achieving global sales above US$8 billion in 1995. However, this era was fraught with tension; the company faced accusations of involvement in illegal activities, and the brothers were linked to the country's new oligarchy. In 1997, Russia's Interior Minister Anatoly Kulikov even linked the brothers to the Izmaylovskaya mafia.
Despite these turbulent years, the brothers pivoted away from Russian assets by 2000 to focus on the UK property market and private equity. Their portfolio now includes iconic London landmarks like the Millbank Tower, the Primark store on Oxford Street, and the John Lewis Partnership headquarters. Beyond real estate, their reach extends to travel, technology, and even professional sports, notably through their 10% stake in Newcastle United.
The family's influence also extends to philanthropy and politics. Through the Reuben Foundation, they have donated £80 million toward the creation of Reuben College, Oxford, a postgraduate institution dedicated to studying artificial intelligence, cellular life, and climate change. While their use of offshore tax havens has drawn scrutiny from The Times, the brothers maintain that their businesses fully comply with UK tax laws.
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- Summary by Intellect · source: David and Simon Reuben
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