Who is Jim Ratcliffe?
He is the founder and CEO of Ineos. Ineos is one of the largest petrochemical companies in the world. Ratcliffe was born on October 18, 1952. He is married to Alicia. He has 3 children, 2 sons, and a daughter. He started working at Esso as a chemicals engineer.
In 1998 he formed Ineos. Jim Ratcliffe acquired unwanted operations from companies as BP and Imperial Chemical Industries. ICI is now part of Akzo Nobel. He used high yield debt to finance the deals.
Ratcliffe’s biggest acquisition was the GBP 5 billion purchase of BP’s Innovene petrochemical operation. Which was giving him refineries in Scotland, Italy, Germany, France, Belgium, and Canada.
The INEOS Group is active with fracking and shale gas in the UK.
Nowadays Ineos has 15,000 employees. And realizes sales of US$ 40 billion with 60 manufacturing sites in 13 countries. In 2010 Ratcliffe moved Ineos to Switzerland, saving £100m a year in tax.
Jim Ratcliffe Net Worth
His net worth is US$ 11 billion. He is considered to be the richest man in the UK. In 2018 he was number 1 on the UK rich list.
He resides with his wife Alicia Ratcliffe in Switzerland. But recently announced to move to tax-free Monaco. He is said to avoid up to US$ 5 billion in taxes by moving.
Ratcliffe has made trips to both the North and South poles. And in 2015 he went on a month-long motorbike trip in South Africa.
He is the founder of Go Run for Fun. It is a charity inspiring children in the UK to be more active through running events. The GO Run For Fun program has a very simple aim. To get as many kids between the age of 5 and 10 running as possible.