Newcastle United co-owners top North East rich list after £578m boost

Watch more of our videos on Shots! 
and live on Freeview channel 276
Visit Shots! now
The Reuben brothers have topped the list once again.

Newcastle United’s part owners have retained their top spot as the richest people in the North East on The Sunday Times Rich List 2024.

David and Simon Reuben and family are the richest people in the region, increasing their wealth by £578m this year to a staggering £24.977bn.

Hide Ad
Hide Ad
Newcastle United co-owner Jamie Reuben.  (Photo by Stu Forster/Getty Images)Newcastle United co-owner Jamie Reuben.  (Photo by Stu Forster/Getty Images)
Newcastle United co-owner Jamie Reuben. (Photo by Stu Forster/Getty Images) | Getty Images

At the time of the club’s takeover in 2021, the Reuben Brothers owned 10% of shares. This year this has increased to 14.3% whilst co-owner Amanda Staveley’s has decreased.

David’s son, Jamie Reuben, serves as a director at Newcastle United.

The India-born brothers initially made their millions in metals trading but now focus on the likes of private equity, real estate investment and development.

Their firm is behind the redevelopment of Pilgrim Street including the new HMRC building.

Hide Ad
Hide Ad

Coming in second on the North East’s rich list is Middlesbrough FC owner Steve Gibson, while Barbour owners Dame Margaret and Helen Barbour come in third.

Mark Fenwick and family are in fourth place with £526m and The Duke of Northumberland comes in fifth.

But in 2024, The Sunday Times Rich List reveals the largest fall in the billionaire count in the guide’s 36-year history.

Robert Watts, compiler of the Sunday Times Rich List, said: “This year’s Sunday Times Rich List suggests Britain’s billionaire boom has come to an end. Many of our home-grown entrepreneurs have seen their fortunes fall and some of the global super rich who came here are moving away. 

Hide Ad
Hide Ad

 “Thousands of British livelihoods rely on the super-rich to some extent. We’ll have to wait and see whether we have now reached peak billionaire, and what that means for our economy. 

 “These may be harder times to create wealth, but The Sunday Times Rich List continues to unearth entrepreneurs building fortunes in diverse and often surprising ways. This year’s new entries include people who have made money from artificial intelligence and virtual worlds as well as plumbing supplies and teaching aides.  

 “We know many of our readers find such people — especially those from humbler backgrounds — very inspiring.” 

You can read the full list here.

Comment Guidelines

National World encourages reader discussion on our stories. User feedback, insights and back-and-forth exchanges add a rich layer of context to reporting. Please review our Community Guidelines before commenting.