Arc owners fortune surges in Rich List
BY GRAHAM GREEN 12:32PM 26 APR 2015
BROTHERS David and Simon Reuben, owners of Britain's largest racecourse operator Arena Racing Company, have added another £700 million to their fortune over the last 12 months to further cement their standing as the sport's most successful businessmen.
The pair rose two places to fifth in the Sunday Times Rich List, the annual guide to wealth in the UK and Ireland, which estimates their combined worth at £9.7 billion.
David, 76 and Simon, 73, made their fortune in the 1990s through the restructuring of the Russian aluminium industry, and have since become established as major players in the property, internet and investment markets. Arc tracks are responsible for around 40 per cent of Britain's fixture list.
Father and daughter Peter and Denise Coates' continuing success with bet365 online betting company has put further daylight between themselves and Betfred bosses Fred and Peter Done at the top of the league table of gambling operators.
The Coates family are now valued at £2.35 billion - an increase of £1.15 billion, or 96 per cent up on 2014 calculations - making them the fifth biggest risers on the list in climbing from 78th to 44th. The move follows the group reporting an 81.5 per cent surge in profits to £320.9 million in July last year. Meanwhile the growth in the Dones' wealth was more modest, at £50 million, although this enabled them to hit £1 billion.
The gambling industry high rollers are headed by online gaming's Mark Scheinberg with £2.76 billion, while Coolmore Stud partner Michael Tabor, who last year acquired Victor Chandler's BetVictor online gambling operation, is ranked fifth on the list with £600 million, David Power of Paddy Power is seventh with £236 million, and Betfair founders Ed Wray and Andrew Black are ninth and 13th respectively with £222 million and £135 million respectively.
Betdaq founder Dermot Desmond is rated the fifth-richest person in Ireland with £1.47 billion, with John Magnier 15th with £804 million, one place ahead of J P McManus on £803 million. Derrick Smith, another of Magnier's bloodstock partners, is estimated to have dropped £5 million to £590 million.
Racehorse owner and breeder Kirsten Rausing, bracketed with her brother Jorn, still occupies eighth place in the Rich List although the Sunday Times has shaved £100 million off the valuation which is now put at £8.7 billion, while investment banker Michel de Carvalho, whose wife Charlene inherited the fortune of brewer Freddy Heineken and owns the George Baker-trained Refreshestheparts, is in twelfth spot with £7.14 billion, and Jockey Club member Earl Cadogan climbs a place to 18th with £4.8 billion.
Others featured on the list include Lord Bamford and family on £3.1 billion, Peter Hargreaves (£1.89 billion), Wafic Said (£1.5 billion), Duke of Devonshire (850 million), Trevor Hemmings (£675 million), former trainer Peter Harris (£650 million) Cheveley Park Stud owner David Thompson (£490 million), Jim and Fitri Hay (£300 million) , Bill Gredley (£164 million), Graham Wylie (£185 million) and Jeff Smith (£130 million).
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