British Millionaire Gold Trader Paul Tustain Dies in Motorbike Crash in Spain

Paul Gerard Tustain, 62, was killed on a road near the northern Spanish town of Pamplona when his bike strayed onto the wrong side of the road

British millionaire and BullionVault founder Paul Gerard Tustain, 62, tragically died in a head-on collision with a van while on a motorbike holiday in northern Spain. The fatal accident occurred on Thursday afternoon on the NA-1110 road between Azketa and Iratxe, near Pamplona.

Tustain, originally from Cambridgeshire and residing in London, was riding a rented BMW motorcycle alongside his daughter, who witnessed the devastating crash. They were traveling toward the town of Logroño as part of a motorbike tour through Spain. His daughter, riding behind him, reportedly attempted to warn him with hand signals when she noticed he had drifted onto the wrong side of the road, but it was too late. He collided head-on with a van that had no opportunity to avoid the impact.

Paul Tustain, 62, was killed when his motorbike smashed into a van during a tour of Spain

Emergency services, including an air ambulance, ground medics, firefighters, and police, rushed to the scene at approximately 1:38 p.m. Despite rapid response efforts, Tustain was pronounced dead at the scene. His body was transported to the Navarra Institute of Legal Medicine for an autopsy. Authorities are investigating whether a medical emergency or a momentary distraction may have caused him to veer off course.

Images from the scene showed the crumpled remains of the motorbike and the severely damaged front of the white van involved in the crash. No injuries were reported among the van's occupants.

Tustain's bike had strayed onto the wrong side of the road

A police spokesperson described the impact as “brutal” and confirmed that an investigation is ongoing to determine the exact cause of the fatal crash.

Tustain was a respected entrepreneur and a major figure in the precious metals investment world. He founded BullionVault, now the world’s largest online bullion investment platform, allowing retail investors to buy and trade fractional gold and silver holdings. He also ran WhiskyInvestDirect.com, a platform that facilitated bulk investments in maturing Scotch whisky.

Investigators are considering that Tustain could have suffered a medical episode

Before his success in bullion trading, Tustain founded SAM Systems, which developed back-office systems for banking and stockbroking. His entry into the gold market was sparked by frustration over the UK government's sale of gold reserves under then-Chancellor Gordon Brown. Tustain once famously stated that buying three of those very bars was “probably the best purchase I ever made.”

With an initial investment of £275,000 sourced from family and angel investors, BullionVault grew into a platform managing over $1.3 billion in gold assets within a decade, earning nearly £4 million in pre-tax profits and representing roughly 11% of the UK Treasury’s reserves.

Tustain's daughter was riding behind him and saw the whole thing

A BullionVault spokesperson expressed shock at his sudden death, stating: “We are in shock at Paul’s very sudden death. We will be releasing a statement in due course, but at the moment we are still grieving. Our thoughts are very much with Paul’s family.”

Tustain leaves behind a legacy of innovation and influence in the global finance and investment community.