The scenes of students smashing up Millbank Tower are quite extraordinary. They did make me wonder who owns the building. After all, it will not be the Tory party picking up the bill for the damage.
The owners are in fact the Reuben brothers, two property tycoons who made their fortune in Russian aluminium during the chaotic 1990s.
We’ve written about them on this blog before, particularly after Jim discovered that they had donated almost £200,000 to the Conservative party through various obscure companies. Other donations include £5,000 to Liam Fox and £22,000 to Zac Goldsmith, in the form of an auction prize.
This post gives a reasonable potted summary of their business in Russia. One interesting fact is that the Reuben Brothers gave Oleg Deripaska, of yachtgate fame, his first big break, offering funding to buy his first aluminium plant.
The brothers will now be facing a hefty bill to sort out the mess these students leave behind. Their insurance policy will probably cover most of it. But I don’t expect the Reubens will worry too much about taking a financial hit for a policy — and party — they believe in.
Jim Pickard
Kiran Stacey