30 April 2012 – Racing Post
BILLIONAIRES David and Simon Reuben have added another accolade to their formidable array of financial achievements after being identified as Britain’s wealthiest racehorse owners.
The pair, who were nicknamed the “tsar brothers” after making a fortune during the restructuring of the aluminium industry in Russia and have since become major players in the UK property, internet, and investment markets, so far have only one horse in training, but reportedly sharing a combined worth of more than £7 billion – placing them eighth in the latest annual Sunday Times Rich List – the sport will hope it becomes the first of many.
The Reubens, who own Northern Racing and arein the process of adding Arena Leisure to their portfolio, normally shy away from publicity, but recently put their heads over the parapet when paying £20,000 to have a Zamindar colt carry their colours this season as part of a charity venture organised by Dr Marwan Koukash on behalf of Racing Welfare. Named Great Ormond, and trained in Newmarket by David Simcock, the brothers will donate any winnings to Great Ormond Street Hospital.
Father and daughter Peter and Denise Coates’s continuing success with the bet365 online betting company has seen them put further daylight between themselves and Fred (Betfred) and Peter Done at the top of the league table of gambling operators.
The Coates family are now valued at £800 million – a £50m rise on last year – while the Dones, who bought the Tote for £265m last summer, are up £40m, to £700m, the sum also apportioned to PartyGaming founders Rush Parasol and Russ DeLeon.
Michael Tabor, who owns a stake in BetVictor and a Coolmore Stud partner, is ranked fourth in the list on £550m, Chandler himself is sixth with £160m, and Betfair founders Ed Wray and Andrew Black are eighth and ninth with £123m and £110m respectively. John Magnier has slipped out of the top ten in Ireland’s rich list with the Sunday Times shaving £60m from Coolmore Stud’s value, and is now said to be worth £507m.
Derrick Smith, another of Magnier’s bloodstock partners, remains unchanged on £550m. Racehorse owner and breeder Kirsten Rausing, bracketed with brother Jorn, occupies 15th position with £3.9bn, while Earl Cadogan, whose property empire includes much of Chelsea, has enjoyed another profitable 12 months during which his coffers increased by £375m to £3.2bn.
Others to feature on the list include Nat Rothschild and Wafic Said, both on £1bn, the Duke of Devonshire (£700m), Trevor Hemmings (£575m), Cheveley Park Stud owner David Thompson (£460m), former trainer Peter Harris (£400m), Sir Robert Ogden (£200m), Jim and Fitri Hay (£200m), Graham Wylie (£180m), Bill Gredley (£105m), Jeff Smith (£105m) and Andy Stewart (£87m).
Betdaq founder Dermot Desmond is rated the fourth richest person in Ireland with £1.3bn, while J P McManus is in 14th with £479m and Michael O’Leary 19th on £355m.
With Dublin bookmaker Paddy Power going from strength to strength, the founder’s grandson, David Power, is estimated to be worth £152m, £38m more than last year.