What is James Ratcliffe’s Net Worth?
| net worth: | $19 billion |
|---|---|
| age: | 71 |
| date of birth: | October 18, 1952 |
| gender: | male |
| high: | unknown |
| country of origin: | USA |
| Source of wealth: | entrepreneur |
| Last updated: | July 30, 2024 |
introduce
James Ratcliffe is a British billionaire chemical engineer turned financier and industrialist.
Ratcliffe is chairman and CEO of INEOS Chemicals, the group he founded in 1998 and in which he still owns two-thirds of the company, which has an estimated turnover of $80 billion.
He has little public visibility and was described by The Sunday Times as “publicity-shy”.
As of July 2024, James Ratcliffe’s net worth is estimated to be $19 billion.
early life
Sir James Arthur Ratcliffe was born on October 18, 1952 in Manchester.
Ratcliffe’s father was a carpenter and his mother was an accounting office clerk.
His father eventually ran a factory that produced laboratory furniture.
At the age of ten, his family moved to Yorkshire, where Ratcliffe attended Beverley Grammar School and lived in Hull until he was 18.
Ratcliffe graduated from the University of Birmingham in 1974 with a degree in chemical engineering.
Profession
In 1978, while studying for his MBA at London Business School, James Ratcliffe got his first job at oil company Esso.
In 1989 he joined US private equity group Advent International and co-founded Inspec, which leased a plant from BP Chemicals in Antwerp.
A few years later he founded INEOS in Hampshire and acquired Inspec and the ethylene oxide plant in Belgium.
The company has grown rapidly after acquiring the chemical businesses of giants such as BASF and BP.
Although he is not yet one of the richest men in the world, Ratcliffe is already on the road to success due to the rapid development of his business!
Billionaire
James Ratcliffe used his company to begin buying unwanted businesses from other businesses, targeting those with the greatest potential.
In 2006 he bought BP’s petrochemical and refining business, Innovene, giving him control of its plants in Scotland, Germany, Canada, Belgium and France.
The following year, he acquired Norsk Hydro’s polymer business, which gave INEOS entry into the European polymer market.
Ratcliffe moved INEOS headquarters to Rohr, Switzerland in 2010, a move praised by Donald Trump.
This reduced his annual tax bill by more than £100 million, allowing him to make more profits.
Five years later, however, he did open new headquarters in London for his chemicals and energy group.
In 2018, he was named the richest man in the UK with a net worth of £21.05 billion thanks to his keen business strategies.
Despite this, his company has been criticised for its poor environmental record and has been convicted of discharging caustic soda into Manchester Canal.
Although Ratcliffe paid a £166,650 fine, no further action was taken by authorities in response to the discovery, though he has begun to get involved in green initiatives.
Ratcliffe’s recent business activities
In February 2019, INEOS announced that it would invest £1 billion in the UK’s chemical and oil sectors, including transforming the country’s pipeline system.
That same year, Ratcliffe spoke out against a law that would have required a moratorium on hydraulic fracturing operations in the UK if a 0.5 magnitude earthquake was detected.
He also founded INEOS Automotive and worked with Magna Steyr and BMW to design new station wagons.
In 2021, Ratcliffe announced that it would invest more than £1.7 billion in electrolysis projects to help produce zero-carbon hydrogen across Europe.
The project will start in Norway and will be followed by other projects in Belgium and Germany.
Additionally, Ratcliffe has used his business to support his love of sport, purchasing a minority stake in Manchester United in February 2024.
Now that he owns a stake in one of the richest football teams in the world, fans are very interested in what the businessman has planned.
In addition to this, Ratcliffe also funds the ENEOS Grenadiers cycling team through INEOS and owns part of OGC NICE and FC Lausanne-Sport.
INEOS also supports the Daily Mile Foundation and is a partner of the New Zealand Rugby League’s All Blacks.
James Ratcliffe Net Worth
As of July 2024, James Ratcliffe’s net worth is $19 billion.
How does James Ratcliffe spend his money?
James Ratcliffe spent some of his money on real estate.
James Ratcliffe’s House and Other Purchases
Ratcliffe lives in Monaco and Hampshire.
In 2017, he built another mansion at Thorns Beach near Beaulieu on the Hampshire coast to replace an existing two-bedroom bungalow. Ratcliffe owns two superyachts, Hampshire and Hampshire II. His first yacht was built by Feadship and was named Barbara Jean.
emphasize
Here are some highlights from James Ratcliffe’s career:
- Chairman and CEO, Ineos Chemicals
James Ratcliffe’s Favorite Quotes
“Unions have a valuable role to play in large organisations where it’s hard to talk to a thousand people. They can negotiate annual pay awards with management, represent grievance cases and explain and advise on complex changes to employment or pensions laws.” – Jim Ratcliffe
“It would be great if some areas could be revitalised – like Pittsburgh in the US, which was transformed through shale gas. A shiny city with shiny cars emerged as a result of shale gas development in the old industrial heartland.” – Jim Ratcliffe
“Germany has a high level of technology, first-class infrastructure and high-quality factories. If you go to the UK, you will find that we are very creative and the language is very good, but the energy costs are almost the highest in the Western world; pensions are quite expensive, and the level of technology is significantly lower than that of Germany and the United States.” – Jim Ratcliffe
“I think the UK will be very successful as an independent country, part of the European market like Norway and Switzerland, but without the expensive EU bureaucracy.” – Jim Ratcliffe
“Brussels is inefficient and bureaucratic, which slows things down. The concept of a United States of Europe will never work.” – Jim Ratcliffe
3 life lessons from James Ratcliffe
Now that you know about James Ratcliffe’s net worth and how he achieved his success; let’s look at some of the lessons we can learn from him:
1. Go your own way
There are two kinds of people who will tell you that you can’t change the world: those who are afraid to try, and those who are afraid of your success.
2. Failure
We may encounter many failures, but we must never be defeated.
3. Settle down
If you’re not willing to take risks, you’ll have to settle for mediocrity.
Frequently Asked Questions
How much is James Ratcliffe worth?
James Ratcliffe’s net worth is estimated to be $19 billion.
How old is James Ratcliffe?
James Ratcliffe was born on October 18, 1952 and is 71 years old.
How tall is James Ratcliffe?
James Ratcliffe’s height is not known.
Summary
James Ratcliffe is a British chemical engineer who later became a financier and industrialist and has served as chairman of INEOS Group.
Ratcliffe is one of the richest men in Britain today, but he likes to keep a low profile.
He is Chairman and CEO of Uneos Chemical Group, which he founded in 1998.
As of July 2024, James Ratcliffe’s net worth is approximately $19 billion.
What do you think about James Ratcliffe’s net worth? Leave a comment below.
Categories: Net Worth
Source: svlsf.edu.vn