How did Sir Jim Ratcliffe make his money? Ineos CEO career

Manchester United’s owners, the Glazer family, are looking to sell the Premier League club, and the billionaire is likely to make a bid for the team, according to reports.

Man United currently ranks fifth in the standings, 11 points behind league leaders and former arch-rivals Arsenal, after suffering in the first matches of the season.

According to a report by the British newspaper The Guardian, one of the people running to buy the club The Daily TelegraphHe is billionaire Ineos CEO Sir Jim Ratcliffe. But how did he make his fortune? Here’s what you need to know.

Sir Jim Ratcliffe is the majority shareholder of chemicals manufacturer Ineos (Photo: AFP/Getty Images)

Who is Jim Ratcliffe?

Jim Ratcliffe is a 69-year-old British billionaire. Born in Oldham but based in Monaco, he is the Owner, President and CEO of Ineos.

The company is a global chemical manufacturer that produces everything from packaging to smartphone cases and paint.

Despite growing up closer to Manchester City’s stadium than Old Trafford, Ratcliffe very much represents Manchester’s red half. His spokesperson told the Times on August 17 that the businessman was “definitely” interested in owning the team.

Sir Jim Ratcliffe is the principal partner of the Mercedes1 Team (Photo: AFP/Getty Images)

Ratcliffe has other sporting interests, being the owner ofrance Ligue 1 team Nice, Swissirst Division teamC Lausanne-Sport, cycling team Ineos Grenadiers (named after a new car) and Sir Ben Ainslie’s sailing team. Ineos is also a major sponsor of the Mercedes1 Team and New Zealand Rugby Union All Blacks side.

The company has previously insisted on this committed to tackling the climate crisis. Ratcliffe himself has also faced criticism for moving to a low-tax area of ​​Monaco in 2020 despite being a leading supporter of Brexit.

He was knighted in the Queen’s Birthday Honors List in 2018 for services to business and investment.

Ineos imports shale gas to its Grangemouth refinery in Scotland (Photo: Getty Images)

How did Jim Ratcliffe make his money?

Jim Ratcliffe began his career as a chemical engineer at Exxon Chemicals, after graduating from the University of Birmingham. He then studied at the London Business School, where he gained an MBA in Accounting, before moving to defunct manufacturing firm Cortauld.

In 1992, Jim Ratcliffe led the purchase of Inspec Group, a chemical company owned by BP. He then formed Ineos to acquire a portion of Inspec.

Sir Jim Ratcliffe founded Ineos in 1998 (Photo: AFP/Getty Images)

Ineos grew rapidly acquiring petrochemical companies around the world. With Jim Ratcliffe owning a large percentage of the business, the company’s rise in fortunes led to a huge rise in his personal fortune.

What is Jim Ratcliffe’s net worth?

But based on his current wealth, he would be the 10th richest person in the country. He is also the 128th richest person in the world.

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