Jim Ratcliffe is a well-known engineer from the United Kingdom. He was born on October 18, 1952. Sir James Arthur Ratcliffe, who was born on October 18, 1952, is a British billionaire chemical engineer who turned into a financier and a business owner. When Ratcliffe started the Ineos chemical company in 1998, he still owns two-thirds of the company.
It has been estimated that the company has a turnover of $80 billion, and Ratcliffe still owns two-thirds of the company, too. This means that he doesn’t have a lot of people who know about him. The Sunday Times called him “publicity-shy.” If you look at his net worth, you understand this makes him the richest person in the UK at the time. Astrologers say that Jim Ratcliffe’s sign is Capricorn.
Ratcliffe started with a small amount of money and used high-yield spending to make deals. He bought unwanted operations from groups like ICI and BP, choosing targets based on their ability to double their earnings over the next five years. 2006: Ineos bought the refining and petrochemical arm of BP, which was called Innovene. This meant that Ineos now had refineries and plants all over the world.
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Jim Ratcliffe: Net Worth 2022
James Ratcliffe is a British chemical engineer who turned into a financier and industrialist. James Ratcliffe has a net worth of $19 billion as of 2022, and he is worth a lot of money. James Ratcliffe used to be an engineer. Since 1998, he has been the CEO of Ineos Group, a chemical company with an estimated turnover of $44 billion. He used to be the CEO of the company, but now he is only in charge of it. It has grown through acquisitions and business partnerships.
|Net Worth:||$19 Billion|
|Born:||18 October, 1952|
|Country of Origin:||United States of America|
|Source of Wealth:||Entrepreneur|
Early Life Details
Ratcliffe is the son of a joiner father and a woman who works in an accounting office. His father ran a factory that made lab furniture. He moved with his family to Yorkshire when he was 10 years old. He went to Beverley Grammar School and lived in Hull until he was 18. During the 1970s, Ratcliffe earned a degree in chemical engineering from the University of Birmingham and moved to New York City.
It was with the oil company Esso that Ratcliffe got his start in the business world. He studied management accounting and took an MBA at London Business School to learn more about finance. Afterward, in 1989, he joined the private equity group Advent International from the United States.
His company, INSPEC, rented out a site in Antwerp, Belgium, that was used to make BP chemicals before it was shut down. He started a company in Hampshire, called Ineos, and bought out INSPEC and the freehold of the Antwerp site in 1998, so the company could stay in Antwerp and run its own business.
His move to Switzerland in 2010 cut the tax the company paid by £100 million a year.
When Ratcliffe opened up the UK headquarters of the chemicals and energy group in London’s Knightsbridge in 2015, he said he was “very happy” to be back in the UK. He also opened up gas and oil trading and other businesses.
In general, he was happy with the way the UK was run, that London was a good place to do business, and that the UK would not leave the EU. For now, it is still a company that is both English and Swiss.
Married Life Details
In 1995, Ratcliffe married Amanda Townson. They had two sons, then split up in 1995. He also has a daughter with his second wife, Alicia, and they have a child together.
When Did Jim Ratcliffe Start Ineos?
There is a chemical group called Ineos that Ratcliffe started in 1998. He is both the chairman and the CEO of this group.
From a small base in Massachusetts, he started buying up unwanted operations from big companies like BP. He used high-yield debt to fund the deals, and he chose targets based on their ability to double their earnings over the next five years.
2006: Ineos bought the refining and petrochemical arm of BP, which was called Innovene. This meant that Ineos now had refineries and plants all over the world.
Finally, in April 2010, Ratcliffe moved the head office of Ineos to the Swiss city of Rolle, which cut the company’s tax bill by £100 million a year.
It turns out that a lot of people in Britain use Ineos products without realizing it!
Use them to clean water, make toothpaste, make antibiotics, insulate homes, package food, and keep things warm and safe
The company makes about $45 billion a year and has more than 18,500 employees in 22 countries. It has 181 plants in 22 countries.
He ran the Ineos 1:59 Challenge in Vienna today and finished in 1:59:40. Eliud Kipchoge, 34, smashed his goal by 20 seconds to finish the race in that time.
People who own the company Ineos paid for the event.
When Were Jim Ratcliffe Knighted And Will He Buy Chelsea Football Club?
This happened on June 2, 2018. Ratcliffe was made a knight in the Queen’s Birthday Honours list on June 2, 2018. He was given the award for his work in business and investment. He wants to buy Chelsea Football Club from Roman Abramovich. But the Russian oligarch is said to have turned him down. It was only in July that news reports said that he was interested in taking over the club.
In a tweet, the Secret Footballer account said that Sir Jim is close to buying the Blues.
There were sources close to Chelsea, however, who quickly ruled out any sale. This is what they said:
However, in March 2019, the Times said that Ratcliffe is willing to buy Chelsea if owner Roman Abramovich lowers his asking price from £2.5bn to £1.5bn.
In 2018, Abramovich was denied a visa renewal and had to use an Israeli passport to visit the UK for six months at a time. Since then, he has reportedly become less connected to the club. One reason Sir Jim won’t buy the club for £2.5bn is that the club needs a new stadium.
Favorite Quotes By James Ratcliffe
“Unions can play a valuable role in large organizations where it is difficult to talk to a thousand people. They can negotiate annual pay awards with management, represent grievance cases, and explain and advise on complicated changes in employment or pension law.”
“It would be nice if areas could be revitalized – like places in the U.S. such as Pittsburgh, for example, which have been transformed through shale. There you have shiny cars in a shiny city because of the development of shale in an old industrial heartland.”
“Germany has great skill levels, great infrastructure, high-quality plant. If you go to the U.K., we’re very creative, and we’ve got the language, but energy costs are pretty much the most expensive in the Western world; pensions are pretty expensive, and the skills are significantly below those in Germany and the U.S.”