Rise and rise of Reuben, friend to Boris and Paris
Entrepreneur has a playboy reputation but has emerged as a key figure in reshaped St James’ Park boardroom
While the Saudis faced the furore, a billionaire heir with close links to Boris Johnson went quietly about his business to play a key part in the Newcastle takeover.
Slipping under the radar has been a hallmark of a family empire ranked the second richest in Britain and, true to form, Jamie Reuben took up his position as a St James’ Park director with relatively little fuss. His father, David, one half of the Reuben Brothers empire worth £21 billion, steers clear of publicity. “Brothers Who Let the Money Do the Talking”, is among headlines on the company’s website.
Jamie, however, has an easier relationship with the trappings of fame. The 34-year-old was declared by one broadsheet newspaper as among the nation’s most eligible bachelors. He has also set tongues wagging by attending parties with Paris Hilton, Kim Kardashian and Princess Beatrice.
The glitzy headlines have failed to deter Newcastle’s consortium from the belief that Reuben may prove to be one of the most astute brains – and best connected – of all the new executives involved.
His network extends well beyond his many celebrity friends, including Justin Bieber. It is his previous experience on the board at Queens Park Rangers and his links with the Prime Minister that his associates see as a greater asset as he begins life in Premier League ownership.
His family’s 10 per cent investment in the club brings with it a sharp instinct for business that extends beyond his inherited family fortune. He founded the investment firm Melbury Capital in
2011 but has enjoyed more financial success in recent years investing in real estate for the family firm. He is in the process of developing a proposed luxury hotel in Piccadilly.
Jamie has already started pressing the right buttons with the fans. “We will build a true community club, based upon our family’s knowledge of the city and in line with our plans that have been worked on closely with Newcastle City Council to
He may be one of the most astute brains – and best connected – of all the new executives
deliver long-term sustainable growth for the area,” he said after the takeover went through. However, after the Premier League gave its approval on the basis of no state interference by Saudi Arabia, there are fair questions to be asked about the extent of his relationship with UK leaders. He has previously dabbled in politics, becoming committee chairman for Boris Johnson’s re-election as London Mayor in 2012. However, the Reuben family has categorically denied there was any contact with Johnson relating to the Newcastle deal. Downing Street has also distanced itself from the takeover, clarifying that the Prime Minister had not spoken to Mohammed bin Salman, the Crown Prince of Saudi Arabia, for “some time”. Nigel Huddleston, the sports minister, repeated his position that it was a “matter for football to decide”. The Reuben family, meanwhile, will be keen to keep Jamie as low profile as possible at Newcastle. Simon Reuben, his uncle, once said: “It goes against all my instincts to talk to a journalist.”
“I also like to keep a low profile,” Jamie told The Times during a rare interview in February last year. “I think that’s an approach that has worked well for us.” Despite dodging publicity, Reuben Brothers continues to be one of the largest investors in luxury leisure group Belmond Ltd. Other holdings include Travelodge Hotels. David, his father, was born in Mumbai, India, and came to Britain in the 1950s. After starting his career at Mount Star Metals, a Ukbased scrap-metals business, David joined Trans-continental, a subsidiary of Metal Traders Inc. In 1977, he left and formed Trans-world Group, and in 1986, along with his brother, Simon, he restructured the firm, bought out his partners, and took control of the business.
In 2000, the brothers wound down Transworld’s operations to sharpen their focus on Reuben Brothers, which is a global leader in private equity, real estate investment and development, and debt financing.
For a dynasty with such a track record of success, navigating a difficult diplomatic situation by going into business with the Saudis at Newcastle may rank as the most daunting challenge of the lot.