London’s Courtauld institute of art receives record £30 million donation
The Courtauld Institute of Art in London has received the largest donation in its 93-year history — £30 million from the Reuben Foundation. The organization was established by billionaire property developers David and Simon Reuben, two of the wealthiest businessmen in the United Kingdom.
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According to the institute, the donation marks not only an act of generosity but also the beginning of a “long-term partnership” with the foundation. The Reuben family traditionally directs its philanthropic efforts toward healthcare, education, and the arts.
As reported by The Sunday Times Rich List, the India-born Reuben brothers rank second among the UK’s richest individuals, with a combined fortune estimated at nearly £27 billion. They began their business careers in the 1990s trading Russian aluminum and later expanded into real estate, becoming major players in the London property market. The brothers are currently overseeing the transformation of the city’s historic Admiralty Arch into a luxury hotel.
The Courtauld, renowned for its collection of Impressionist masterpieces and its distinguished academic program, has long benefited from philanthropic support. Over the past decade, a fundraising campaign marking the institute’s centenary has raised around £115 million, much of which is being used to renovate its academic wing. However, according to The Art Newspaper, an additional £65 million is still required to complete the project.
Other notable benefactors of the Courtauld include art collector and Bet365 founder Denise Coates, as well as Ukrainian-born businessman and philanthropist Sir Leonard Blavatnik.
The new donation from the Reuben Foundation marks a significant milestone in the institute’s development, strengthening its position as one of the world’s leading centers for the study, preservation, and exhibition of art.
Previously, the largest donation in the UK arts sector was directed toward the expansion of the National Gallery — a £375 million project supported by the Julia Rausing Foundation, Crankstart, and the National Gallery Trust.
Cover photo: © Benedict Johnson / The Reuben Foundation
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