Things to know about the Reuben brothers, new owners of The Chesterfield Palm Beach

M.M. Cloutier
·3 min read
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The new owner of The Chesterfield isn’t just a hotel operator — far from it.

London-based Reuben Brothers is a private-equity and real estate development and investment firm that controls a global portfolio of office, retail, hotel, residential and other properties, including several holdings in London’s tony Mayfair district.

During the first two years of the COVID-19 pandemic, the company purchased or provided financing for New York and South Florida real estate assets, according to news reports.

Employees: The Chesterfield in Palm Beach is closing for renovations on Sept. 6

For subscribers: The Chesterfield boutique hotel sells for $42 million in Palm Beach, deed shows

With the recent purchase of The Chesterfield by Reuben Brothers, the fate of its iconic Leopard Lounge and Restaurant is unknown.
With the recent purchase of The Chesterfield by Reuben Brothers, the fate of its iconic Leopard Lounge and Restaurant is unknown.

It also has investments in race courses, pubs and restaurants, media and data centers, shipping and other concerns.

Its two founder-brothers are among the richest people in the United Kingdom and in 2021 they “teamed up with Saudi investors” and a British financier to buy the British football club Newcastle United, according to The Times of London.

Boutique hotel sells:The Chesterfield sells for $42 million in Palm Beach, deed shows

Here are five other things to know about Reuben Brothers:

New owners of The Chesterfield Palm Beach: British Reuben brothers were born in India

Simon Reuben, Jamie Reuben and David Reuben at a London charity ball in 2013. Brothers Simon and David Reuben founded Reuben Brothers which earlier this year bought The Chesterfield, one of Palm Beach’s historic boutique hotels, for $42 million.
Simon Reuben, Jamie Reuben and David Reuben at a London charity ball in 2013. Brothers Simon and David Reuben founded Reuben Brothers which earlier this year bought The Chesterfield, one of Palm Beach’s historic boutique hotels, for $42 million.

1. At the helm are British billionaire brothers David and Simon Reuben, who were born in Mumbai, India. Both are in their early 80s and have a personal net worth of $6.4 billion each, according to Forbes, putting them at No. 343 on Forbes’ list of the world’s richest billionaires. The brothers are known to be intensely private and rarely grant media interviews.

READ MORE: Five things to know about The Chesterfield

Reuben scion is friends with Princess Beatrice, Paris Hilton

Britain's Prime Minister Boris Johnson makes a statement outside 10 Downing Street in central London on July 7, 2022.
Britain's Prime Minister Boris Johnson makes a statement outside 10 Downing Street in central London on July 7, 2022.

2. David’s son, Jamie Reuben, is actively involved in Reuben Brothers. Described as a deal-maker, he has helped spearhead acquisitions and projects. The 34-year-old is said to be a notable London bachelor whose friends include Princess Beatrice, Paris Hilton and British Prime Minster Boris Johnson.

Florida investments include JW Marriott Turnberry Resort & Spa

3. While Reuben Brothers is known for its overseas assets, it also owns or has provided financing for several properties in the United States. They include buildings in New York City, and the JW Marriott Turnberry Resort & Spa in Aventura, in which they have a 25% stake, according to numerous news reports.

Reuben Foundation gave $101 million to Oxford University

4. Reuben College is the newest college at Britain’s esteemed Oxford University. In June, the Reuben brothers’ philanthropic arm, Reuben Foundation, whose stated mission is to benefit health care and education, gave 80 million British pounds — or $101 million — to Oxford.

London's iconic Admiralty Arch is owned by Reubens

5. Admiralty Arch — one of London’s iconic landmarks near Buckingham Palace — is a Reuben property. Reuben Brothers in June took over a delayed hotel project at the site, which formerly was a government building originally commissioned in honor of Queen Victoria. Reuben Brothers aims to transform the arch to “its former glory” with a luxe hotel, residents and private members’ club, the company’s website says.

This article originally appeared on Palm Beach Daily News: The Chesterfield Palm Beach has new owners, the Reuben brothers