What is Jim Ratcliffe Net Worth? Find his Ineos Owner’s Career Details and Personal Life Here!!
Jim Ratcliffe used to be a chemical engineer, but now he is the founder, chairman, and majority owner of the chemical powerhouse Ineos Group. The company is based in London and makes everything from synthetic oils and plastics to solvents that make insulin and antibiotics. Jim Ratcliffe net worth is estimated to be $19 million, claimed by Celebrity Net Worth.
According to Forbes, the company has become the U.K. shale sector’s largest player. Its 600-foot “Dragon Ships” were the first to transport U.S. shale gas into Europe.
When Ratcliffe led the buyout of a BP chemicals business in 1992, he put his house up for sale so that he could lead the deal. Six years later, he bought a plant from that company to start Ineos. In the last few years, the company has continued to buy other businesses. BP sold two more chemical businesses to Ineos for $5 billion in January 2021. Ineos bought them for that amount.
Want to know more about this businessman? Keep scrolling to learn about Jim Ratcliffe net worth, personal life, and company info here.
Early Life
Sir Jim Arthur Ratcliffe was born on the 18th of October 1952 in Manchester. 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.
Jim Ratcliffe Career Info
He took a degree in chemical engineering from the University of Birmingham to help him get a job. Shortly after he got a job at the oil company Esso, Ratcliffe wanted to learn more about finance.
He went to London Business School to study management accounting and get an MBA. One of the founders of INSPEC, which took over BP Chemicals’ old site in Antwerp, Belgium, was him.
It was in 1998 that Ratcliffe formed Ineos in Hampshire to buy out INSPEC and the freehold of the Antwerp site, but that wasn’t the first time. Since, Ineos has bought Tessenderlo’s European Chlor-vinyls business for $110 million and formed a joint venture with BASF, among other things.
The biggest deal, the company made is when it bought the Innovene business from BP Group for $8.7 billion in 2005. To make things even better, it has now become one of the top producers of styrene monomers and polystyrene in the world.
His main source of wealth, the company he owns, hasn’t changed much. He owns two-thirds of it.
Jim Ratcliffe Personal Assets
Ratcliffe lives in Monaco and in Hampshire. His home was built in 2017 at Thorns Beach near Beaulieu, on the Hampshire coast. It would replace a two-bedroom bungalow that had been there.
Related: What is James Khuri Net Worth? How Rich Is This American Businessman?
In the past, Ratcliffe has owned two superyachts: the Hampshire and the Hampshire II, both of which were very large. Feadship built his first yacht, called Barbara Jean, and he used it for the first time.
Jim Ratcliffe Net Worth
Jim Ratcliffe is a British chemical engineer who turned into a financier and industrialist. He has a net worth of $19 billion. Jim Ratcliffe used to be an engineer in his early days.
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.
When did he 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 Hampshire, 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. 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.
Conclusion
That’s all about Jim Ratcliffe net worth. We hope you have enjoyed reading the article and found it worth your time and interest. For more such updates, stay tuned with us!!
