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British Property Tycoon David Reuben Joins Monaco’s Expanding Billionaire enclave
By Drooid · · How we work
Relocation of a UK Billionaire
David Reuben, the 88-year-old co-owner of Newcastle United and long-time property investor, moved from his Holland Park home in west London to Monaco this summer, as reported by *The Times*. His brother Simon Reuben, who has lived in the principality for roughly four decades, preceded him. The brothers rank as Britain’s second-richest family on the 2026 Sunday Times Rich List, with an estimated combined fortune of £27.971 billion.
Tax-Policy Shift Fuels a British Exodus
The migration follows the United Kingdom’s abolition of the non-domiciled tax regime in April 2025, a reform that increased the tax exposure of wealthy residents with overseas assets and income. Monaco, which does not levy personal income tax or capital-gains tax on most residents, has become an attractive low-tax base for such individuals.
Monaco’s Growing Billionaire Community
Monaco now hosts a sizable contingent of ultra-wealthy residents from Britain, Europe, the Middle East, and Africa. Robert Watts, compiler of the 2026 Rich List, noted that about £77 billion of wealth controlled by UK citizens resides in Monaco—more than 10 % of the £784 billion total held by the 350 individuals and families on the list. Prominent British figures living there include Ineos founder Sir Jim Ratcliffe, Formula One driver Sir Lewis Hamilton, and easyJet founder Sir Stelios Haji-Ioannou. Among African billionaires, Nigerian businessman Femi Otedola is frequently linked to Monaco, having hosted fellow Nigerian magnates Aliko Dangote and Mike Adenuga in the principality.
Business Interests Remain in the UK
Relocating residence does not equate to abandoning British business operations. The Reuben brothers’ investment vehicle continues to hold substantial UK property and other assets, and they remain minority owners of Newcastle United. Their move illustrates a pattern where wealthy individuals seek tax efficiency while maintaining core commercial ties to the United Kingdom.
Outlook and Significance
The Reuben brothers’ relocation underscores Monaco’s rising role as a tax-friendly hub for global billionaires, especially those affected by recent UK fiscal reforms. As more British and African ultra-wealthy individuals establish residence there, Monaco’s influence on international investment networks and tax-policy debates is likely to deepen.