Stephen Rubin
Robert Rubin | |
|---|---|
| Born | Template:Birth year and age United Kingdom |
| Occupation(s) | Entrepreneur, businessman |
| Known for | Chairman and co-owner of Pentland Group |
Robert Stephen Rubin (born December 1937) is a British billionaire entrepreneur, serving as chairman and co-owner of Pentland Group, a holding company headquartered in Finchley, north London, specializing in sporting goods. As of May 2021, his wealth was valued at approximately £6.4 billion.
Early life
Rubin was born in December 1937 and attended Canford School. He earned a law degree from University College London in 1958, with initial plans to pursue a career as a barrister.
Career
At age 21, Rubin made an unsuccessful attempt to enter Parliament in 1959 as a Liberal candidate. Subsequently, he joined the Liverpool Shoe Company, established by his immigrant parents, Berko and Minnie Rubin. He held the position of joint managing director alongside his father until 1969, after which he assumed the role of chairman. The firm was rebranded as Pentland Group in 1973 and expanded to become the leading sportswear and footwear company in the UK, owning notable brands including Berghaus, Brasher, Ellesse, Hunter, Mitre, and Speedo. Pentland is also the principal shareholder of JD Sports Fashion plc.
A pivotal moment for Pentland was acquiring a 55% stake in Reebok in August 1981 for £77,500. By the fiscal year 1983/84, Reebok represented 70% of Pentland's revenue. The share price surged from 55p at the start of 1984 to £10 by 1985, with profits escalating from £1 million in 1983 to £12.9 million in 1985. Rubin divested Pentland's Reebok shares for £770 million in 1991.
He maintained the roles of chairman and CEO until 1998, when he appointed his son Andrew as CEO while continuing as chairman. In 1999, Rubin took Pentland private to concentrate on long-term investment strategies, despite dissatisfaction from City investors due to underwhelming performance since its public listing in 1989.
Rubin held the position of World Chairman of the Textile Institute from 1994 to 2006 and served as president of the World Federation of the Sporting Goods Industry during two terms: 1995–1998 and 1999–2001. Additionally, he sits on the board of CEJI – A Jewish Contribution to an Inclusive Europe.
In January 2019, Rubin was recognized by the Sunday Times as Britain's highest taxpayer with a tax contribution of £181.6 million; he ranked second in 2020 after paying £143.9 million.
Honours and awards
In recognition of his contributions to business and human rights, Rubin was appointed an OBE in the 2003 New Year's Honours List. The International Jewish Sports Hall of Fame honored him with their Lifetime Achievement Award in 2008. On 21 July 2010, Nottingham Trent University conferred upon him an honorary Doctorate of Art (DArt).
Personal life
Rubin is married to Angela; together they have four children and reside in London.
According to the Sunday Times Rich List for 2021, Rubin's net worth increased by £2.169 billion from the previous year, reaching £6.394 billion.