Sir James Arthur Ratcliffe FIChemE is a British chemical engineer and businessman who was born on October 18, 1952. Ratcliffe is the chairman and chief executive officer (CEO) of the Ineos chemicals firm, which he started in 1998 and still owns two-thirds of, and which is expected to generate $15 billion in revenue in 2019. He maintains a low public profile and has been described as “publicity shy” by The Sunday Times. With a net worth of £21.05 billion as of May 2018, he was the wealthiest individual in the United Kingdom. His net worth was assessed to be $28.2 billion by the Bloomberg Billionaires Index in April 2020, making him the 55th richest person in the world and the second richest in the United Kingdom. Ratcliffe officially relocated his tax domicile from Hampshire to Monaco in September 2020, saving him an estimated £4 billion in taxes.
.The 69-year-old created the firm in 1998, and it is most known in the athletic world for sponsoring Team Ineos, a British cycling team.
Ratcliffe, who was born in Failsworth, Lancashire, is a Manchester United fan and the owner of the Ligue 1 team Nice.
James Ratcliffe’s Net Worth Is Estimated to Be in The Millions of Dollars.
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James Ratcliffe has a net worth of $19 billion as a British chemical engineer who later became a businessman and industrialist. James Ratcliffe, a former engineer, has been the chairman of Ineos Group, a chemical behemoth with a $44 billion annual revenue, since 1998. He is now solely responsible for the company’s growth through acquisitions and partnerships.
Ratcliffe, one of the wealthiest persons in the UK today, prefers to keep a low profile. He was born in Manchester on October 18, 1952, and graduated from the University of Birmingham with a degree in chemical engineering. Ratcliffe decided to develop his abilities in finance shortly after landing his first job with the oil company Esso and enrolled at London Business School to study management accounting and earn an MBA. He was one of the founders of INSPEC, which leased the former BP Chemicals facility in Antwerp, Belgium, after a period. Ratcliffe founded Ineos in Hampshire in 1998 to purchase out INSPEC and the freehold of the Antwerp site.
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Ineos has made a number of acquisitions since then, including buying Tessenderlo’s European Chlor-vinyls business for $110 million and forming a joint venture with BASF in Germany. The $8.7 billion transactions to buy BP Group’s Innovene subsidiary in 2005 is regarded as the company’s biggest gain. As a result, it is now one of the largest manufacturers of styrene monomers and polystyrene in the world. Ratcliffe still owns two-thirds of the company that is responsible for the majority of his wealth.
Career
His first work was with the oil company Esso, but he opted to widen his horizons by studying management accounting and earning an MSc in finance from London Business Institution from 1978 to 1980 (he gave £25 million to the school in 2016). He joined Advent International, a private equity firm based in the United States, in 1989.
Ratcliffe formed the Ineos chemicals firm in 1998 and serves as its chairman and CEO.
He started buying unwanted activities from companies like BP from a small base in Hampshire, utilizing high-yield loans to fund purchases. He chose targets based on their ability to quadruple their earnings over a five-year period.
Innovene, BP’s refining, and the petrochemical branch were purchased by Ineos in 2006, providing the company with refineries and plants in Scotland, Italy, Germany, France, Belgium, and Canada.
Ratcliffe then moved Ineos’ headquarters to Rolle, Switzerland, in April 2010, lowering the company’s tax burden by £100 million per year.
Every day, millions of Britons unintentionally use Ineos goods.
They are used to purify water, create toothpaste, insulate homes, and package food.
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Personal Life
Jim Ratcliffe is a well-known and professional British billionaire chemical engineer turned banker and industrialist located in Monaco. His marital status is unknown, according to social media accounts. Catherine Polli is his partner’s name. If you want to learn more about his lifestyle, keep reading this post to learn about his family.
Those who know his family details and those who check Jim Ratcliffe Wiki will find all of his information on this page.