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Billionaire businessman Sir Jim Ratcliffe recently sparked controversy after making remarks about the UK being “colonised by immigrants,” comments that Prime Minister Sir Keir Starmer described as “wrong and offensive.” Following the backlash, Ratcliffe, who is also a co-owner of Manchester United, issued an apology for his choice of words but emphasized his desire to foster an open discussion on migration, skills, and investment within the country.
Sir Jim Ratcliffe ranks among the wealthiest individuals in the UK, although estimates of his exact net worth differ. While the Sunday Times Rich List values him at approximately £17 billion ($23.2 billion), Forbes offers a somewhat lower estimate of £12.8 billion ($17.5 billion). His wealth comes largely from his ownership of the chemicals conglomerate Ineos, but his assets also include shares in Manchester United, luxury properties in London and Hampshire, a hotel in the French Alps, and a 78-meter superyacht named Hampshire II.
Ratcliffe’s journey to becoming a billionaire began modestly. Raised on a council estate in Greater Manchester and the son of a joiner, he graduated from the University of Birmingham before entering the energy and chemicals industry. In 1992, he took a significant financial risk by mortgaging his home to help fund the purchase of a chemicals company that BP was selling. This investment paid off handsomely when the company, later listed on the London Stock Exchange, was valued at £100 million by 1994. Stepping away in 1998, Ratcliffe founded Ineos, which under his leadership expanded through acquisitions and growth to become a major player in producing chemicals used in everyday products from packaging to electronics. Headquartered in Switzerland, Ineos now operates 154 facilities across 27 countries, generating around £50 billion in sales and employing more than 26,000 people.
Although Ratcliffe’s business interests and sports ventures are largely UK-based, he currently resides in Monaco, having changed his tax domicile in 2020. This move, despite drawing criticism given his previous status as one of the UK’s biggest taxpayers and his vocal Brexit support, reportedly offers significant tax savings if he remains in Monaco for over half the year. Nevertheless, he maintains multiple residences across London, the Hampshire coast, the French Alps, Switzerland, and Monaco. His purchase of a controlling interest in Manchester United marks a notable milestone, with his company securing football operations while the Glazer family retains majority ownership. Ratcliffe has expressed honor in taking on this role, viewing it as a responsibility to improve the club’s fortunes. His involvement includes a substantial commitment of £237 million in future investment for redeveloping Old Trafford as part of a £4.2 billion regeneration plan aimed at transforming the stadium into a venue capable of seating 100,000 fans.
Knighted in 2018 for “services to business and investment,” Ratcliffe’s political views have evolved over time. Though supportive of Brexit, he made clear distinctions about the European Union, endorsing the common market but opposing a fully unified “United States of Europe.” In 2024, he publicly backed the Labour Party and its leader, Sir Keir Starmer, praising Starmer’s sensible approach while suggesting the Conservative Party had lost voter confidence. More recently, while reaffirming a personal liking for Starmer, Ratcliffe acknowledged the difficulties facing UK leadership and the tough decisions needed to guide the country forward. His recent comments on immigration echo past statements expressing concern that the UK’s island status limits its capacity to manage current levels of population inflow
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