Sir James Arthur Ratcliffe, normally referred to as Jim Ratcliffe, is a British billionaire, chemical engineer, and businessman. As the founder, chairman, and CEO of the INEOS chemical compounds organization, Ratcliffe has constructed one of the world’s biggest chemical corporations.
Beyond his business ventures, he has made giant investments in the automobile area and diverse sports activities, together with soccer, biking, and sailing. As of May 2023, his internet really well worth has become anticipated at £29.688 billion, making him one of the wealthiest people in the UK.
Early Life and Education
Born on October 18, 1952, in Failsworth, Lancashire (now Greater Manchester), Ratcliffe’s upbringing become modest. His father labored as a joiner earlier than handling a manufacturing facility that produced laboratory furniture, even as his mom became hired in a bill’s office.
Their own circle of relatives lived in a council residence till Ratcliffe became ten, and then they moved to East Yorkshire. He attended Beverley Grammar School and later pursued chemical engineering on the University of Birmingham, graduating in 1974 with a 2:1 degree.
Career Beginnings
After university, Ratcliffe briefly labored at BP however became disregarded after 3 days because of a clinical condition. He then joined a prescribed drugs corporation as a trainee accountant and later worked for Esso. Between 1978 and 1980, Esso subsidized his MBA research at the London Business School. Post-MBA, Ratcliffe labored for Courtaulds and later joined the U.S. personal fairness organization Advent International.
Founding of INEOS
In 1998, Ratcliffe based INEOS in Hampshire, UK, to gather Inspec’s ethylene oxide facility in Antwerp, Belgium. The £84 million buy became financed through an aggregate of investments and high-yield bonds.
Under Ratcliffe’s leadership, INEOS was elevated unexpectedly with the aid of obtaining commodity chemical groups from most important agencies like BP, ICI, and BASF. By 2018, INEOS had grown right into a conglomerate of approximately 30 corporations working over 170 web sites worldwide.
INEOS’s Global Expansion
INEOS’s increase approach concerned obtaining underperforming chemical belongings and turning them profitable. Notable acquisitions covered BP’s refining and petrochemical arm Innovene in 2006, which supplied INEOS with refineries and vegetation in Scotland, Italy, Germany, France, Belgium, and Canada.
The corporation additionally obtained Norsk Hydro’s polymers commercial enterprise in 2007, strengthening its function in the European polymers market, in particular in polyvinyl chloride (PVC) manufacturing.
Financial Challenges
Despite its fast expansion, INEOS confronted giant economic challenges, in particular throughout worldwide financial downturns. The COVID-19 pandemic and the worldwide electricity disaster following Russia’s invasion of Ukraine critically impacted the chemical compounds enterprise, leading to a drastic drop in INEOS’s earnings.
The corporation’s earnings earlier than tax plummeted in 2023, resulting in brilliant losses and great debt accumulation. Credit corporations have expressed worries approximately INEOS’s destiny economic health.
INEOS Automotive and the Grenadier
Ratcliffe’s project into the automobile enterprise started out together with his choice to construct a successor to the Land Rover Defender. After Jaguar Land Rover declined to promote the tooling for the Defender, Ratcliffe initiated “Projekt Grenadier” to layout and manufacture a comparable vehicle.
Named after his favored pub, The Grenadier in Belgravia, London, the INEOS Grenadier will be unveiled in July 2020. The vehicle’s manufacturing started in October 2022 at the previous Smart manufacturing facility in Hambach, France, after INEOS obtained the power from Daimler.
Sports Investments
Ratcliffe’s ardour for sports activities is clear thru his severa investments:
Football
Lausanne-Sport: In November 2017, Ratcliffe obtained the Swiss Super League membership Lausanne-Sport.
OGC Nice: Through INEOS, he bought the French Ligue 1 membership OGC Nice in 2019, aiming to raise the membership’s overall performance in home and European competitions.
Manchester United: A lifelong supporter of Manchester United, Ratcliffe expressed interest in obtaining the membership in August 2022. After a chain of negotiations, INEOS obtained a 25% stake in Manchester United on December 24, 2023, with the acquisition finalized in February 2024. This acquisition granted INEOS Sport control over the membership’s soccer operations.
Cycling
In 2019, Ratcliffe bought the Team Sky cycling franchise, rebranding it as Team INEOS. The crew completed giant successes, together with prevailing the 2019 Tour de France and the 2021 Giro d’Italia with Colombian rider Egan Bernal.
Sailing
Partnering with famed sailor Ben Ainslie, Ratcliffe fashioned INEOS Team UK to compete in the 36th America’s Cup in 2021. Although the crew did now no longer win, Ratcliffe reportedly invested over £110 million in the project. INEOS Britannia is ready to symbolize the Royal Yacht Squadron Ltd because of the British Challenger of Record for the 37th America’s Cup, scheduled in Barcelona in October 2024.
Formula 1
In 2020, INEOS have become a predominant accomplice of the Mercedes-AMG Petronas Formula One Team, marking a giant access into motorsport. This partnership has been instrumental in preserving the crew’s aggressive aspect in the championship.
Personal Life
Ratcliffe’s private lifestyles displays his adventurous spirit and various interests:
Marriages and Children: In 1985, he married Amanda Townson, with whom he has sons, George and Samuel. The couple divorced in 1995. He additionally has a daughter together with his modern accomplice, Italian tax legal professional Maria Alessia Maresca. Ratcliffe is presently married to Catherine Polli.
Residences: He continues houses in Monaco and Hampshire, England. In September 2020, he formally modified his tax house from Hampshire to Monaco, a pass anticipated to store him £4 billion in taxes.
Adventurous Pursuits: An avid adventurer, Ratcliffe has undertaken expeditions to each the North and South Poles and launched into a 3-month motorbike trek in South Africa. He additionally based the charity “Go Run for Fun,” encouraging bodily hobbies amongst kids elderly 5 to 10 thru celebrity-led events.
Honours and Awards
Ratcliffe’s contributions to enterprise and enterprise had been diagnosed via numerous accolades:
Honorary Fellowship: In May 2009, he was granted an honorary fellowship through the Institution of Chemical Engineers for his management in constructing the INEOS Group.
Petrochemical Heritage Award: He acquired this award in 2013, acknowledging his big effect at the petrochemical enterprise.
Knighthood: Ratcliffe became appointed Knight Bachelor in the 2018 Birthday Honours for offerings to enterprise and funding.
Recent Developments
As of March 2025, Ratcliffe’s tenure at Manchester United has been marked through big demanding situations and controversies:
Critique of Player Signings: Ratcliffe overly criticized 5 Manchester United players—Antony, Casemiro, Andre Onana, Rasmus Hojlund, and Jadon Sancho—labeling them as “now no longer excellent enough” and highlighting the monetary burdens their signings have imposed at the club.
Financial Transparency: He addressed the club’s monetary struggles, attributing them to immoderate spending and negative funding choices made previous to his involvement. Ratcliffe emphasised the need of cost-slicing measures, which includes team of workers redundancies and restructuring, to stabilize the club’s finances.
Debate with Gary Neville: In a heated discussion, former Manchester United participant Gary Neville criticized Ratcliffe’s perspectives at the Glazer family’s ownership, accusing them of negligence because of their lack of private monetary funding in the club. Ratcliffe defended his stance, underscoring the want for unpopular choices to make certain the club’s destiny success.
Support for Management: Despite the demanding situations, Ratcliffe expressed optimism about the club’s path and reiterated his guide for modern-day supervisor Ruben Amorim, maintaining that there aren’t any plans to promote younger abilities like Alejandro Garnacho and Kobbie Mainoo.
How much did Jim Ratcliffe pay for Man Utd?
Sir Jim Ratcliffe, via his organisation INEOS, received a 27.7% stake in Manchester United for approximately £1.31 billion ($1.65 billion). This funding consists of an initial £158 million ($200 million) allotted for infrastructure enhancements at Old Trafford, with an additional £79 million ($100 million) anticipated through the give up of the year.
Jim Ratcliffe Net worth
Sir Jim Ratcliffe’s net worth has been adjusted to various estimates over recent years. According to the Sunday Times Rich List 2023, his wealth became expected at £29.688 billion, making him the second wealthiest man or woman in the UK at that time. However, extra current statistics from Forbes’ 2024 listing of British billionaires places his net worth at $15.9 billion.
In summary
Sir Jim Ratcliffe’s adventure from a modest upbringing to turning into one of the UK’s wealthiest people is a testimony to his entrepreneurial acumen and resilience. Through strategic acquisitions and an ambitious vision, he converted INEOS right into a worldwide chemical powerhouse.
FAQs
How did Jim Ratcliffe make his fortune?
Ratcliffe founded INEOS in 1998 and improved it into one of the world’s biggest chemical businesses via strategic acquisitions of underperforming chemical belongings from principal corporations.
What is the INEOS Grenadier?
The INEOS Grenadier is a rugged 4×4 automobile evolved through INEOS Automotive, stimulated through the traditional Land Rover Defender. Production started in October 2022 at the Hambach plant in France.
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