Net worth

An eye on his career earnings, personal life and much more!

Chemical engineer and businessman, Sir James Arthur Ratcliffe is a British millionaire.

Chemical company Ineos, which Ratcliffe founded in 1998 and currently two-thirds controls, is run by Ratcliffe as chairman and chief executive. The group is expected to generate $15 billion in revenue in 2019. Its public persona is modest and the Sunday Times called it “publicity shy”.

Early life

On October 18, 1952, in Manchester, Sir James Arthur Ratcliffe was born.

Ratcliffe is the son of a carpenter and an office worker who works in accounting.

Later, his father ran a factory that produced furniture for laboratories. When he was eleven, his family moved to Yorkshire. Ratcliffe attended Beverley Grammar School and remained in Hull until the age of eighteen. In 1974 Ratcliffe graduated in chemical engineering from the University of Birmingham.

James Ratcliffe net worth

James Ratcliffe’s total wealth is $19 billion. Since 1998, James Ratcliffe, a former engineer, has been chairman of the Ineos group, a chemical giant whose annual revenue forecast is $44 billion. He is no longer CEO of any other company; only one that has grown through partnerships and acquisitions.

Ratcliffe, who is among the wealthiest people in the UK today, prefers to keep a low profile. Shortly after accepting his first job with the multinational oil company Esso, Ratcliffe made the decision to deepen his knowledge of finance. He enrolled at London Business School to study management accounting and pursue an MBA.

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After a while he became one of the founders of INSPEC, which leased the former site of BP Chemicals in Antwerp, Belgium. To buy INSPEC and full ownership of the Antwerp site, Ratcliffe founded Ineos in Hampshire in 1998.

Since then, among other purchases, Ineos has formed a joint venture with Germany’s BASF and paid $110 million for Belgian company Tessenderlo’s European chlor-vinyls business.

The $8.7 billion purchase of BP Group’s Innovene division in 2005 is considered the company’s biggest profit. It is currently one of the leading manufacturers of polystyrene and styrene monomers in the world. Ratcliffe still owns a two-thirds stake in the business that generates the majority of his revenue.

Career

Net worth of Jim Ratcliffe

Ratcliffe’s first job was with multinational oil company Esso, but he later wanted to deepen his financial knowledge by specializing in management accounting and earning an MBA from London Business School. In 1989, he finally joined the American private equity firm Advent International.

He was one of the founding members of INSPEC, which leased the BP Chemicals plant in Antwerp, Belgium. In order to acquire INSPEC and full ownership of the Antwerp site, Ratcliffe created Ineos in Hampshire in 1998.

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He moved Ineos’ headquarters from Hampshire to Rolle, Switzerland, in 2010, reducing the tax the company had to pay by £100million a year.

Ratcliffe said he was “quite happy to be back in the UK” when he opened the chemical and energy group’s UK headquarters in Knightsbridge, London, in 2015.

He was happy with British politics, liked London as a place of business and was not concerned about the UK leaving the EU. It is still an Anglo-Swiss company “for now”.

Private life:

They have two children, George and Samuel, from Ratcliffe’s 1985 marriage to Amanda Townson. In 1995, they divorced. From a previous union, he has a daughter with Maria Alessia Maresca, an Italian tax lawyer. Catherine Polli is his current companion.

Ratcliffe resides in Hampshire, England and Monaco. Building a ‘luxury residence’ at Thorns Beach, near Beaulieu on the Hampshire coast, to replace an existing two-bedroom bungalow was the aim of his fifth concept, less ambitious than the first four.

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Ratcliffe is said to have saved £4billion in tax by officially moving his tax domicile from Hampshire to Monaco in September 2020.

Net worth of Jim Ratcliffe

Alongside Michael Schumacher, he also has an opulent home in the Swiss village of Gland on the beaches of Lake Geneva. In the imperial domain of Napoleon Bonaparte, where his palace is located, Princess Alix Napoleon also has a residence.

As a lover of physical challenges, Ratcliffe undertook trips to the North and South Poles as well as a three-month motorcycle tour through South Africa.

He completed the 2013 Marathon des Sables through the Sahara Desert, and he started the charity “Go Run for Fun” to motivate children to exercise by organizing races led by celebrities.

Ratcliffe, a eurosceptic, said Ineos “supports the single market, but not a United States of Europe” from a business perspective. He is against the “layers and layers” of European regulations which he says are making these nations’ economies increasingly complicated and inefficient.

He openly expressed his contempt for politicians, criticizing them for the way they negotiated the Brexit Withdrawal Agreement and for their propensity to ‘lunch with bankers’ while showing less interest in engaging in economic talks with industrialists and business leaders.

The super yachts Hampshire and Hampshire II were both owned by Ratcliffe. Feadship built its first boat, which was called Barbara Jean. He received the 78-metre (256 ft) long Feadship Hampshire II built by Royal van Lent in 2012, and he still owns it.