How much is James Ratcliffe’s net worth?
| net worth: | $19 billion |
|---|---|
| age: | 71 |
| Birth: | October 18, 1952 |
| gender: | Male |
| Height: | unknown |
| country of origin: | United States of america |
| Sources of funds: | entrepreneur |
| Last Updated: | July 30, 2024 |
Introduction
James Ratcliffe is a British billionaire chemical engineer who later became a financier and industrialist.
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Ratcliffe is the chairman and chief executive officer of Ineos Chemicals Group, which he founded in 1998 and which he still owns two-thirds of, and which has an estimated turnover of $80 billion.
His public image is not very high and the Sunday Times has described him as “publicity-averse”.
As of July 2024, James Ratcliffe net worth is estimated to be $19 billion.
early life
Sir James Arthur Ratcliffe was born on 18 October 1952 in Manchester.
Ratcliffe is the son of a joiner father and a mother who worked in an accounts office.
His father eventually ran a factory manufacturing laboratory furniture.
At the age of ten he moved with his family to Yorkshire, and Ratcliffe was educated at Beverley Grammar School and lived in Hull until he was 18.
Ratcliffe graduated in chemical engineering from the University of Birmingham in 1974.
Livelihood
In 1978, while studying for an MBA at the London Business School, James Ratcliffe got his first job at the oil company Esso.
In 1989, he joined Advent International, an American private equity group, and co-founded Inspec, which leased a site from BP Chemicals in Antwerp.
A few years later, he formed INEOS in Hampshire and purchased Inspec and the ethylene oxide facility in Belgium.
The company grew rapidly as it acquired chemical businesses from giants such as BASF and BP.
Although he wasn’t yet one of the richest people in the world, Ratcliffe was well on his way thanks to his rapidly growing business!
a billionaire businessman
Using his company, James Ratcliffe began purchasing unwanted operations from other businesses, targeting those with the most potential.
In 2006 he bought BP’s petrochemical and refining company Innoven, giving him control of plants in Scotland, Germany, Canada, Belgium and France.
The following year, they acquired Norsk Hydro’s polymers business, giving INEOS an opportunity to enter the European polymers market.
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Ratcliffe moved INEOS’ headquarters to Rolle, Switzerland, in 2010, in a move praised by Donald Trump.
This caused it to pay over £100 million more in tax per year, allowing it to make more profits.
However, he opened a new headquarters for his chemicals and energy group in London five years later.
In 2018, due to his excellent business strategies, he was declared the richest man in the UK with a net worth of £21.05 billion.
He said his company had faced criticism for its poor environmental record, and had been found guilty of discharging caustic soda into the Manchester Ship Canal.
Although Ratcliffe paid a fine of £166,650, nothing further was done about the findings, although he has dabbled in green initiatives.
Ratcliffe’s recent business moves
INEOS announced in February 2019 that it would invest £1 billion in the UK chemicals and oil sector, including improvements to the country’s pipeline system.
The same year, Ratcliffe spoke out against legislation that would require fracking in the UK to be suspended if an earthquake of magnitude 0.5 was detected.
He also founded INEOS Automotive and partnered with Magna Steyr and BMW to design a new station wagon.
In 2021, Ratcliffe announced he would invest over £1.7 billion in electrolysis projects to help create zero-carbon hydrogen across Europe.
The project will be launched in Norway, followed by additional projects in Belgium and Germany.
Additionally, Ratcliffe has used his business to support his love of the sport, purchasing a minority stake in Manchester United in February 2024.
Now that he has a stake in one of the richest football teams in the world, fans are very interested in what this businessman plans to do next.
In addition, Ratcliffe, through INEOS, also finances the ENEOS Grenadiers cycling team and owns shares in OGC NICE and FC Lausanne-Sport.
INEOS also supports the Daily Mile Foundation and is a performance partner of New Zealand rugby union, the All Blacks.
james ratcliffe net worth
As of July 2024, James Ratcliffe net worth is $19 billion.
How does James Ratcliffe spend his money?
James Ratcliffe spends some of his money on real estate.
James Ratcliffe’s home and other purchases
Ratcliffe lives in Monaco and Hampshire.
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In 2017, he built another luxury home at Thornes Beach near Beaulieu on the Hampshire coast, replacing an existing two-bedroom bungalow. Ratcliffe owns two superyachts, Hampshire and Hampshire II. His first yacht was built by Feadship as Barbara Jean.
Highlights
Here are some of the best highlights of James Ratcliffe’s career:
- Chairman and Chief Executive Officer, Ineos Chemicals Group
Favourite quotes from James Ratcliffe
“Unions can play an important role in large organisations, where it is difficult to talk to thousands of people. They can negotiate annual pay awards with management, represent grievance cases, and explain and advise on complex changes in employment or pensions law.” – Jim Ratcliffe
“It would be great if areas could be revitalised – for example, places like Pittsburgh in the US, which has been transformed through shale. There you have shiny cars in a shiny city because of shale development in an old industrial area.” – Jim Ratcliffe
“The skills level in Germany is very good, the infrastructure is great, the plants are of high quality. If you go to the UK you will find that we are very creative, and our language is good, but energy costs are the most expensive in the western world; pensions are very expensive, and skills are much lower than in Germany and the US” – Jim Ratcliffe
“I think the UK would be perfectly successful as an independent country, part of the European market like Norway and Switzerland, but without the costly EU bureaucracy.” – Jim Ratcliffe
“Brussels has become inefficient and too bureaucratic, which leads to delays in getting things done. The concept of a United States of Europe will never work.” – Jim Ratcliffe
3 life lessons from James Ratcliffe
Now that you know all about James Ratcliffe’s net worth and his success; let’s look at some lessons we can learn from him:
1. Go your own way
There are two kinds of people who will tell you that you can’t make a difference in this world: those who are afraid to try, and those who are afraid you will succeed.
2. Necklace
We may face defeat many times, but we must not give up.
3. Compromise
If you are not willing to take the normal risks, you will have to settle for the normal.
Frequently Asked Questions
How much is James Ratcliffe’s net worth?
James Ratcliffe’s net worth is estimated at $19 billion.
How old is James Ratcliffe?
James Ratcliffe was born on 18 October 1952 and is currently 71 years old.
How tall is James Ratcliffe?
James Ratcliffe’s height is unknown.
Summary
James Ratcliffe is a British chemical engineer, now a financier and industrialist, and former chairman of the Ineos Group.
One of Britain’s richest men today, Ratcliffe prefers to stay low-key.
He is the Chairman and Chief Executive Officer of Unios Chemicals Group, established in 1998.
As of July 2024, James Ratcliffe net worth is approximately $19 billion.
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Category: Net worth