You’ve probably walked past their buildings a thousand times without realizing it. If you’ve ever window-shopped at the Burlington Arcade, stared up at the Millbank Tower, or grabbed a coat at the Oxford Street Primark, you’ve been on their turf. Simon and David Reuben are basically the landlords of Mayfair, yet they remain two of the most elusive figures in the high-stakes world of global finance. They don't do flashy TikTok tours of their penthouses. They don't get into Twitter spats. They just buy, hold, and wait.
Honestly, their story feels like something out of a grainy 90s thriller. It’s got everything: a childhood in Mumbai, a scrap metal start in London, and a high-risk gamble in the "Wild East" of post-Soviet Russia that nearly cost them everything—or worse. Today, their net worth is pegged at over £24.9 billion according to the 2024 Sunday Times Rich List. That’s a lot of zeros. But how does a pair of brothers go from importing carpets to owning a chunk of the New York skyline and a legendary football club?
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The "Aluminium Wars" and the Russian Gamble
Most people know the Reubens for real estate, but the foundation of their empire was built on metal. Specifically, Russian aluminium. In the early 90s, while the rest of the world was watching the Soviet Union collapse with uncertainty, the Reubens saw an opening. Through their company, Trans-World Group, they pioneered a "tolling" system.
It was brilliant, if incredibly dangerous. They’d pay for the raw materials (alumina) to be shipped to cash-strapped Russian smelters and then take the finished aluminium to sell on the global market. At its peak, Trans-World was the third-largest aluminium producer on the planet.
But Russia in the 90s wasn't exactly a playground for the faint of heart. This era was nicknamed the "Great Patriotic Aluminium War." We’re talking about a time when business disputes weren't always settled in a boardroom; sometimes they were settled with car bombs. The Reubens worked with figures who would become the ultimate oligarchs, including Roman Abramovich and Oleg Deripaska.
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"There is absolutely no truth to any of the allegations that Trans-World has been involved in any illegal activity in Russia," David Reuben once told the press, pushing back against the "gangster capitalism" labels often thrown their way.
By 2000, they saw the writing on the wall. Putin was rising, the landscape was shifting, and the brothers decided to cash out. They sold their Russian assets for a fortune and headed back to the safety of London brick and mortar. It was the ultimate pivot.
Why Simon and David Reuben Love Mayfair
If you want to understand the Reuben strategy, look at a map of W1. They didn't just buy houses; they bought "estates." They own the Piccadilly Estate, a massive 1.3-acre stretch of prime land.
Their crown jewel right now? The redevelopment of the old "In and Out" Club (Cambridge House) at 94 Piccadilly. They’re turning this Grade I-listed Palladian mansion into a 102-room ultra-luxury hotel managed by Auberge Resorts Collection. It’s a £1 billion project. Think about that for a second. While other investors are panicking about interest rates, the Reubens are spending a billion pounds to make sure a single building remains the fanciest spot in London.
A Portfolio That Never Sleeps
They aren't just London-centric anymore, though. Recently, they’ve been on a massive shopping spree in the U.S.
- W South Beach, Miami: They recently closed a deal for over $400 million to take a majority stake in this iconic hotel.
- The Surrey Hotel, New York: They snapped up this Upper East Side landmark during the pandemic when everyone else was running away from Manhattan.
- Avery Healthcare: In late 2025, they increased their stake in this UK care home operator, which now runs over 100 facilities.
It’s a mix of "trophy" assets and "boring" income. They like hotels and retail, but they also like the steady, unglamorous cash flow from elderly care and data centers.
The Newcastle United Connection
You can't talk about the Reubens without mentioning the Magpies. When the Saudi Public Investment Fund (PIF) took over Newcastle United in 2021, the Reubens were right there in the mix. Through their investment vehicle, RB Sports & Media, they took a 10% stake (which has fluctuated slightly since).
Jamie Reuben, David’s son, has become the "face" of the family at St. James' Park. It’s a smart play. The football club gives them massive cultural capital, but the real money is in the Pilgrim Street regeneration project in Newcastle. They’re basically rebuilding a whole sector of the city center. It’s classic Reuben: use the high-profile sports asset to anchor a massive, long-term real estate play.
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The Billion-Dollar Handover
The brothers are in their 80s now. Naturally, the "next gen" is stepping up. Jamie Reuben is the most visible, often seen at matches or hosting high-society events. But the family operates like a fortress. They use offshore structures—Jersey, Guernsey, the British Virgin Islands—to keep things private. It’s all perfectly legal, but it makes it incredibly hard for outsiders to see the full scope of their wealth.
They’ve also started leaning heavily into legacy. The Reuben Foundation has donated over $1 billion to date. Just recently, in late 2025, they handed over £30 million to the Courtauld Institute of Art. They’ve also funded a whole new college at Oxford—Reuben College—focused on AI and environmental change.
What You Can Learn From the Reuben Way
So, what’s the takeaway here? Is it just "be born at the right time and buy Russian aluminium"? Not really. There’s a specific logic to how they work that anyone can study:
- Asymmetrical Risk: They go where others are scared. They went to Russia in the 90s. They bought Manhattan hotels in 2020.
- Cash is King: They don't rely on massive bank loans like typical developers. They use their own "war chest." This means when the market crashes, they don't have to sell; they buy.
- The "Hold" Mentality: They aren't "flippers." They buy buildings with the intention of owning them for fifty years.
- Privacy as a Shield: By staying out of the tabloids, they avoid the "billionaire fatigue" that haunts people like Elon Musk or Jeff Bezos.
Moving Forward: Your Next Steps
If you're looking to track the Reuben influence or understand how these moves impact the market, keep an eye on the London luxury hotel sector. Their move with Auberge at Cambridge House is a "canary in the coal mine" for the ultra-prime market. If that project succeeds when it opens in late 2025 or 2026, it signals that London remains the global capital for the "super-rich" despite Brexit or economic shifts.
You might also want to look into Real Estate Investment Trusts (REITs) that focus on luxury hospitality if you want to mirror their strategy on a smaller scale. While you can't buy shares in "Reuben Brothers Ltd" (it’s private), you can follow where their capital flows. When they move into a sector—like they did with Avery Healthcare—it usually means they see a 20-year growth curve that everyone else is missing.
Check the planning permissions in Mayfair or the North East of England. Usually, if there’s a massive crane and a lot of secrecy, there’s a good chance a Reuben is involved.