Mumbai-born brothers David and Simon Reuben held on to their rank as the second-richest in the UK with an estimated net worth of £21.465 billion in the annual Sunday Times Rich List, topped by Russian-origin UK-US dual national Sir Leonard Blavatnik with an estimated fortune of £23 billion. In a preview to the rankings in The Times on Friday, the Hinduja brothers — who had shared the second spot with the Reubens last year – slipped to third place with an estimated d net worth of £17 billion. They are followed by British inventor-entrepreneur Sir James Dyson and family, who dropped from the top spot in 2020 to number four with a fortune estimated at £16.3 billion.
In fifth place is steel tycoon Lakshmi N Mittal, who added £7.899 billion to his fortune over the past year to climb several spots from his 19th rank in 2020. “He is spending nearly £290 million on a pilot project to slash its [ArcelorMittal Group] carbon footprint, no small endeavour for a company that mined 58 mt of iron ore and made 71.5 mt of crude steel during 2020,” noted the listing for Rajasthan born Mittal.
The Reubens have been found to have embarked on a buying spree during the pandemic, snapping up undervalued hotels and other properties. “The Reubens have been buying US buildings to upmarket brands that are unlikely to be damaged by the pandemic, such as Tiffany, Armani and Alexander McQueen. There have also been significant investments in Mallorca and Spain, where the brothers plan to build hundreds of luxury retreats,” noted the Rich List.
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