Arc owners knocked off top spot in racing rich list after fortune falls £2.7bn
In a turbulent year for Britain's billionaires, prominent racing figures the Reuben brothers had £2.664 billion wiped off their fortune according to the new Sunday Times Rich List, which was published on Sunday.
David and Simon Reuben, owners of racecourse group Arena Racing Company among a multitude of businesses, which reportedly could soon include Newcastle United football club, are now joint second in the wealth table with their reputed worth of £16bn.
They have also lost their place as the richest people with a connection to British racing, with inventor Sir James Dyson, the owner of Compton Downs gallops, topping the overall list for the first time on £16.2bn.
The Reubens were far from alone in suffering losses as Rich List compiler Robert Watts reported that the number of billionaires has fallen by four to 147.
Nearly two thirds of those have seen their worth fall or flatline in the past 12 months, and the overall wealth held by all 1,000 in the list fell by 3.7 per cent.
Owner-breeder Kirsten Rausing, listed with her brother Jorn, retains her position in sixth place on the Rich List, albeit the pair sustained a reported loss of £156m.
Rausing, owner of Landwades Stud near Newmarket and a member of the Tetrapak family, recently made a "sizeable" donation to charities through her Alborada Trust, including gifting shopping vouchers worth £200 each to 600 ICU staff at Addenbrooke's Hospital in Cambridge.
Bucking the downward trend was the Coates family, whose betting company bet365 is described by Watts as "a gambling goliath".
Their wealth is estimated at £7.166bn, up £310m from 2019, with founder and joint-chief executive Denise Coates receiving £323m in salary and dividends last year.
But the report does not increase last year's valuation of bet365 itself – warning that, having had £2,044 a second wagered on its platforms in 2018-19, turnover has collapsed with sport suspended due to the Covid-19 pandemic.
The Rich List is confined to British citizens and foreigners based in Britain. It excludes foreigners based abroad, such as the Maktoum and Al Thani families, Khalid Abdullah, John Magnier, JP McManus and Michael O'Leary.
Magnier's Coolmore partners Michael Tabor (£600m) and Derrick Smith (£550m) are included because they are British citizens.
Among other well-known names on the list are bookmakers Fred and Peter Done (£1.2bn) of Betfred, leading jumps owner Trevor Hemmings (£1.025bn) and Cheveley Park Stud owners David and Patricia Thompson (£837m).
Top ten in British racing's rich list
£16.2bn Sir James Dyson & family, Household goods & technology
Owner of Compton Downs gallops
£16bn David & Simon Reuben, Property & internet
Owners of Arena Racing Company
£12.1bn Kirsten Rausing & brother, Inheritance & investment
Owner of Lanwades & St Simon Studs
£10.53bn Weston family, Retailing
Former owners with Ian Balding
£10.3bn Charlene de Carvalho-Heineken & Michel de Carvalho, Inheritance, brewing & banking
Owners with George Baker
£7.166bn Denise, John & Peter Coates, Gambling
(Denise) founder and MD of bet365
£6.817bn Earl Cadogan & family, Property
Owner of Money Market & Right Wing
£5.6bn Nicky Oppenheimer & family, Diamonds & mining
Co-sponsor of the King George 1972-2006
£4.7bn Lord Bamford, Construction equipment
Owner of Sariska & Tropbeau
£4.316bn Baroness Howard de Walden & family, Property
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