Investment company Reuben Brothers Ltd. Brothers David and Simon Reuben, who made their fortune in Russia in the 1990s, bought a five-star hotel at £W South Beach in Miami Beach for $400 million. Bloomberg.
The hotel consists of 348 rooms and apartments. Billionaires bought it from the owners of Tricap and RFR.
According to the agency, the Rubens family became rich by selling metal in Russia in the 1990s. After the collapse of the USSR, the brothers took an active part in the “aluminum wars”, when the media began to call the struggle for ownership of the largest metallurgical enterprises in Russia. In 1997, after the state began to tighten control over the situation in the aluminum industry, Rubens began to sell Russian assets.
The Reuben brothers were born in India but moved to London when they were young. They traded metals through Trans-World Group companies. Businessmen sold it in 2000. According to Bloomberg, Rubens’ total wealth is estimated at $16.4 billion.
Formerly Bosch announced It’s about the biggest transaction in history.