LIFETIME OF ACHIEVEMENT

Sir Jim Ratcliffe ’ s net worth , according to the Sunday Times Rich List 2023

one , straightforward question : can we double its earnings over five years ?

The most notable such deal came in 2005 , when Ineos took over Innovene from BP for a sum of around US $ 6.25bn . Ineos ’ sales volume was immediately multiplied and its workforce doubled .

As was the case for countless businesses in manufacturing and beyond , the global financial crash resulted in a substantial decline in revenue and profitability , but Ineos emerged relatively unscathed .

“ We came out of that [ the downturn ] quite well ,” said Sir Jim , speaking back in 2011 . “ We made changes and reduced costs , and I think we came out of it better than many companies , certainly in our industry .

“ Many people did not survive that downturn – the worst , certainly , that we have seen in our lifetimes . Today , the company is in much , much better shape .”

In a bid to avoid paying extortionate taxes , Ratcliffe moved Ineos ’ headquarters from the UK to Switzerland , although a move back to British shores followed in 2016 .

Today , Ineos is a true giant of the chemical industry . While a lack of consumer products sold directly to the public means the name Ineos is not particularly well known , the firm is involved in the production of countless everyday items including medicines , household goods and even computer systems .

Sir Jim ’ s love for sport If Sir Jim was to one day buy Manchester United , they would not be alone in benefitting from his riches .

Over the past few years , Sir Jim ’ s business ventures have seen him spread his wings across the world of sport , initially with the takeover of Swiss club FC Lausanne-Sport in 2017 .

Then came a move into sailing through the formation of Ineos Team UK alongside Ben Ainslie , followed up by the purchase of the Team Sky cycling franchise made famous by riders including Bradley Wiggins and Chris Froome , renaming it Team Ineos ( now Ineos Grenadiers ).

Another ambitious foray into football came in 2019 with the takeover of French Ligue 1 outfit , Nice .

Sir Jim has been linked with various big-name English teams and was last year unsuccessful in his attempts to buy Chelsea , losing out to a consortium led by American businessman Todd Boehly .

The Ineos Group ’ s attempt to buy Man United reportedly placed a higher value on the club than that of Qatari banker Sheikh Jassim , relative to the size of the stake it intends to acquire .

If Sir Jim does eventually end up at the helm , it would surely solidify his reputation as one of the most influential businesspeople in the UK , Europe and beyond . businesschief . eu 21