Jim Ratcliffe - Revision history

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	{{Infobox person		{{Infobox person
	\| name = Sir Jim Ratcliffe		\| name = Sir Jim Ratcliffe
	\| image =		\| image = Jim_Ratcliffe_2022.jpg
	\| image_size = 300px		\| image_size = 300px
	\| caption =		\| caption =

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	\| nationality = British		\| nationality = British
	\| education = [[University of Birmingham]] (BEng)<br>[[London Business School]] (MBA)		\| education = [[University of Birmingham]] (BEng)<br>[[London Business School]] (MBA)
			\| alma_mater = [[University of Birmingham]]<br>[[London Business School]] (MBA)
	\| occupation = Businessman, industrialist		\| occupation = Businessman, industrialist
	\| title = Chairman & CEO of [[INEOS]]		\| title = Chairman & CEO of [[INEOS]]

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	\| birth_name = James Arthur Ratcliffe		\| birth_name = James Arthur Ratcliffe
	\| birth_date = ~~{{Birth date and age\|~~1952~~\|10\|18}}~~		\| birth_date = October 18, 1952
	\| birth_place = [[Failsworth]], [[Lancashire]], England		\| birth_place = [[Failsworth]], [[Lancashire]], England
	\| nationality = British		\| nationality = British

Maintenance script: Created comprehensive article: INEOS founder and chairman, Manchester United 28.94% owner (2024), UK's former richest person, council house to billionaire, OGC Nice, Ineos Grenadiers 7x Tour de France, Monaco tax controversy, Grangemouth closure, environmental criticism, knighted 2018

2025-12-08T11:35:44Z

Created comprehensive article: INEOS founder and chairman, Manchester United 28.94% owner (2024), UK's former richest person, council house to billionaire, OGC Nice, Ineos Grenadiers 7x Tour de France, Monaco tax controversy, Grangemouth closure, environmental criticism, knighted 2018

New page

{{Infobox person
| name = Sir Jim Ratcliffe
| image =
| image_size = 300px
| caption =
| birth_name = James Arthur Ratcliffe
| birth_date = {{Birth date and age|1952|10|18}}
| birth_place = [[Failsworth]], [[Lancashire]], England
| nationality = British
| education = [[University of Birmingham]] (BEng)<br>[[London Business School]] (MBA)
| occupation = Businessman, industrialist
| title = Chairman & CEO of [[INEOS]]
| spouse = {{marriage|Amanda Townson|1985|1995|end=div}}<br>Maria Alessia Maresca (previous relationship)
| children = 3
| residence = [[Monaco]]
| net_worth = US$22.7 billion (May 2025)
| awards = [[Knight Bachelor]] (2018)
}}

'''Sir James Arthur Ratcliffe''' (born October 18, 1952) is a British billionaire businessman and industrialist who serves as chairman and chief executive officer of [[INEOS]], a multinational [[chemical industry|chemicals]] company he founded in 1998. In February 2024, he acquired a minority stake in [[Manchester United F.C.|Manchester United]] football club and gained control over its sporting operations. As of May 2025, the ''[[Sunday Times Rich List]]'' estimates his net worth at £17.05 billion (approximately US$22.7 billion), making him one of the wealthiest people in the United Kingdom.<ref name="sundaytimes-2025">{{cite news |url=https://centredevils.co.uk/news/sir-jim-ratcliffe-net-worth-revealed-in-sunday-times-rich-list-2025/ |title=Sir Jim Ratcliffe net worth revealed in Sunday Times Rich List 2025 |work=CentreDevils |access-date=December 8, 2025}}</ref>

Ratcliffe's business empire includes significant holdings in sports, including [[OGC Nice]] and [[FC Lausanne-Sport]] football clubs, the [[Ineos Grenadiers]] cycling team, and a stake in the [[Mercedes-AMG Petronas F1 Team]]. He was [[Knight Bachelor|knighted]] in 2018 for his contributions to business and investment.

== Early life and education ==

James Arthur Ratcliffe was born on October 18, 1952, in [[Failsworth]], [[Lancashire]] (now part of [[Greater Manchester]]), England.<ref name="wikipedia">{{cite web |url=https://en.wikipedia.org/wiki/Jim_Ratcliffe |title=Jim Ratcliffe |work=Wikipedia |access-date=December 8, 2025}}</ref> His father worked as a joiner and later ran a factory that manufactured laboratory furniture, while his mother worked in an accounts office. The family lived in a [[council house]] until Ratcliffe was ten years old.<ref name="lovemoney">{{cite web |url=https://www.lovemoney.com/gallerylist/76215/sir-jim-ratcliffe-his-journey-from-council-house-to-britains-richest-man |title=Sir Jim Ratcliffe: his journey from council house to Britain's richest man |work=lovemoney.com |access-date=December 8, 2025}}</ref>

After the family moved to [[Yorkshire]], Ratcliffe attended [[Beverley Grammar School]] in the market town of [[Beverley]], where he developed an interest in science and engineering. He lived in [[Kingston upon Hull|Hull]] until age 18.<ref name="headspace">{{cite web |url=https://www.headspacegroup.co.uk/from-zero-to-hero-sir-jim-ratcliffe/ |title=From Zero to Hero: Sir Jim Ratcliffe |work=Headspace Group |access-date=December 8, 2025}}</ref>

Ratcliffe studied [[chemical engineering]] at the [[University of Birmingham]], graduating in 1974. Between 1978 and 1980, he earned an [[Master of Business Administration|MBA]] from [[London Business School]], funded by his employer [[Esso]].<ref name="bloomberg-bi">{{cite web |url=https://www.bloomberg.com/billionaires/profiles/james-a-ratcliffe/ |title=Jim Ratcliffe |work=Bloomberg Billionaires Index |access-date=December 8, 2025}}</ref>

== Career ==

=== Early career ===

After graduating from Birmingham, Ratcliffe was hired by oil company [[BP]] but was dismissed after just three days. The reason given was that he had [[eczema]], which made him unfit to work around toxic chemicals—a medical condition BP had overlooked during the hiring process.<ref name="lovemoney" />

He subsequently took a position as a trainee accountant at a pharmaceuticals company before joining [[Esso]], which funded his MBA at London Business School. Following his MBA, Ratcliffe worked for [[Courtaulds]], a fabric and chemicals manufacturer, remaining there until his mid-thirties.<ref name="headspace" />

In 1989, Ratcliffe joined [[Advent International]], a U.S. private equity firm. He became chief executive officer and led a series of acquisitions. The resulting company, Inspec, listed on the [[London Stock Exchange]] in 1994. He departed Inspec in 1998.<ref name="wikipedia" />

=== Founding INEOS ===

In 1998, Ratcliffe led a [[management buyout]] of Inspec's Belgian chemicals plant for £84 million. He named the new company [[INEOS]].<ref name="bbntimes">{{cite web |url=https://www.bbntimes.com/companies/sir-jim-ratcliffe-s-net-worth-ethnicity-and-business-ventures |title=Sir Jim Ratcliffe's Net Worth, Ethnicity and Business Ventures |work=BBN Times |access-date=December 8, 2025}}</ref>

Using [[high-yield debt]] to finance acquisitions, Ratcliffe pursued a strategy of acquiring unwanted chemical operations from larger conglomerates, selecting targets based on their potential to double earnings over a five-year period. He purchased operations from companies including [[Imperial Chemical Industries|ICI]] and [[BP]].<ref name="wikipedia" />

A transformative deal came in 2005 when INEOS acquired [[BP]]'s refining and petrochemical division, Innovene, for US$8.7 billion. The acquisition gave INEOS refineries and plants across Scotland, Italy, Germany, France, Belgium, and Canada.<ref name="fortune-ineos">{{cite news |url=https://fortune.com/europe/2024/02/03/manchester-united-takeover-new-owners-ineos-sir-jim-ratcliffe/ |title=Manchester United revenue soaring despite sinking results—but billionaire investors INEOS see cracks developing |work=Fortune |date=February 3, 2024 |access-date=December 8, 2025}}</ref>

By 2011, INEOS had become one of the world's ten largest chemical enterprises, with annual sales reaching US$43 billion. Today, the company operates across 29 countries, employs over 26,000 people, and produces products ranging from plastics and synthetic oils to solvents used in pharmaceuticals.<ref name="bbntimes" />

=== Grangemouth refinery closure ===

In 2023, [[Petroineos]]—a joint venture between INEOS and Chinese state-owned [[PetroChina]]—announced it would cease refining operations at [[Grangemouth refinery|Grangemouth]], Scotland's only oil refinery. Refining operations ended on April 29, 2025, with the site converting to a fuel import terminal.<ref name="stv-grangemouth">{{cite news |url=https://news.stv.tv/scotland/all-oil-refining-in-scotland-ends-as-grangemouth-operation-ceases |title=All oil refining in Scotland ends as Grangemouth operations cease |work=STV News |access-date=December 8, 2025}}</ref>

The closure resulted in approximately 400 job losses. Ratcliffe blamed the UK's "lack of energy strategy" and high energy costs, warning that the country's chemicals industry faced "extinction."<ref name="scotsman-extinction">{{cite news |url=https://www.scotsman.com/news/politics/sir-jim-ratcliffe-accuses-ministers-of-overseeing-industry-extinction-as-plant-closes-4940183 |title=Sir Jim Ratcliffe warns of industry 'extinction' as Grangemouth plant closes |work=The Scotsman |access-date=December 8, 2025}}</ref>

== Sports investments ==

=== Manchester United ===

In February 2024, Ratcliffe acquired a 25% stake in [[Manchester United F.C.]] for approximately £1.03 billion, along with operational control over all football-related decisions at the club.<ref name="fortune-mufc">{{cite news |url=https://fortune.com/europe/2023/12/24/manchester-united-25-percent-stake-ineos-billionaire-jim-ratcliffe/ |title=Ineos billionaire Jim Ratcliffe buys 25% stake in Manchester United at $5.4 billion valuation |work=Fortune |date=December 24, 2023 |access-date=December 8, 2025}}</ref>

In December 2024, Ratcliffe invested a further US$100 million into the club as part of a US$300 million commitment toward infrastructure improvements. This increased his stake to approximately 28.94%.<ref name="sportico-stake">{{cite news |url=https://www.sportico.com/leagues/soccer/2024/jim-ratcliffe-manchester-united-stake-investment-1234821196/ |title=Ratcliffe Boosts Manchester United Stake With $100M Investment |work=Sportico |access-date=December 8, 2025}}</ref>

Ratcliffe transferred his Manchester United holdings to INEOS, where he serves as controlling shareholder. His investment coincided with a challenging period for the club both on and off the pitch.<ref name="sportico-stake" />

=== Football clubs ===

Through INEOS, Ratcliffe owns [[OGC Nice]] in French [[Ligue 1]] (acquired in 2018) and [[FC Lausanne-Sport]] in the [[Swiss Super League]] (acquired in 2017).<ref name="ineos-football">{{cite web |url=https://www.ineos.com/sports/football/ |title=Football |work=INEOS |access-date=December 8, 2025}}</ref>

In 2025, reports indicated Ratcliffe was seeking to sell OGC Nice for approximately €250 million, having engaged investment bank [[Lazard]] to find a buyer. Ratcliffe told ''[[The Times]]'' that he did not "particularly enjoy going to watch Nice" and acknowledged that "the best season that Nice has had is this one where we've not been allowed to get involved because of multi-club ownership rules."<ref name="getfrenchfootball">{{cite news |url=https://www.getfootballnewsfrance.com/2025/theyve-been-so-much-better-without-our-interference-jim-ratcliffe-opens-up-on-ineos-owned-nice/ |title='They've been so much better without our interference' - Jim Ratcliffe opens up on INEOS-owned Nice |work=Get French Football News |access-date=December 8, 2025}}</ref>

=== Cycling: Ineos Grenadiers ===

In May 2019, INEOS became title sponsor of [[Team Sky]], the British professional cycling team, renaming it [[Team Ineos]]. In 2020, the team was rebranded as [[Ineos Grenadiers]].<ref name="ineos-grenadiers-wiki">{{cite web |url=https://en.wikipedia.org/wiki/Ineos_Grenadiers |title=Ineos Grenadiers |work=Wikipedia |access-date=December 8, 2025}}</ref>

The team has been one of the most successful in professional cycling, winning the [[Tour de France]] seven times, the [[Giro d'Italia]] twice, and the [[Vuelta a España]] twice. Notable victories include those by [[Bradley Wiggins]] (2012), [[Chris Froome]] (2013, 2015, 2016, 2017), [[Geraint Thomas]] (2018), and [[Egan Bernal]] (2019).<ref name="ineos-grenadiers">{{cite web |url=https://www.ineosgrenadiers.com/ |title=INEOS Grenadiers |access-date=December 8, 2025}}</ref>

=== Formula One ===

Ratcliffe holds a one-third stake in the [[Mercedes-AMG Petronas F1 Team]], alongside [[Daimler AG]] and team principal [[Toto Wolff]].<ref name="wikipedia" />

== Controversies ==

=== Tax residence and Brexit ===

Ratcliffe is a prominent [[Euroscepticism|Eurosceptic]] who publicly supported the UK's departure from the [[European Union]]. In 2019, he stated: "As a business, INEOS supported the common market, but not a United States of Europe."<ref name="wikipedia" />

In September 2020, Ratcliffe officially changed his tax residence from [[Hampshire]], England, to [[Monaco]]—a move estimated to save him approximately £4 billion in tax.<ref name="theweek-monaco">{{cite news |url=https://theweek.com/95735/why-has-britain-s-richest-man-sir-jim-ratcliffe-moved-to-monaco |title=Why has Britain's richest man, Sir Jim Ratcliffe, moved to Monaco? |work=The Week |access-date=December 8, 2025}}</ref>

The move drew criticism given his outspoken support for Brexit, with commentators noting the irony of an advocate for British sovereignty relocating to a tax haven. The UK's [[Honours Forfeiture Committee]] subsequently inserted what has been termed a "Ratcliffe clause" into the [[British honours system|honours system]], reserving the right to reclaim honours from individuals who collect knighthoods and subsequently move their fortunes offshore.<ref name="tortoise">{{cite web |url=https://www.tortoisemedia.com/audio/a-very-british-business/ |title=A very British business |work=Tortoise Media |access-date=December 8, 2025}}</ref>

=== Environmental concerns ===

INEOS is one of Europe's largest producers of plastics and petrochemicals, and the company has faced persistent criticism from environmental groups.<ref name="corporatewatch">{{cite web |url=https://corporatewatch.org/jim-ratcliffe-billionaire-boss-of-ineos/ |title=Jim Ratcliffe: billionaire boss of INEOS |work=Corporate Watch |access-date=December 8, 2025}}</ref>

The company's Grangemouth facility in Scotland has been repeatedly cited as one of the country's worst air polluters, emitting over 3.2 million tonnes of carbon dioxide in 2019. An analysis by the [[Environment Agency]] found the plant had recorded 176 permit violations between 2014 and 2017.<ref name="greenpeace-pollution">{{cite news |url=https://unearthed.greenpeace.org/2019/03/23/ineos-chemicals-environment-pollution-eu-lobbying/ |title=INEOS threatens to close UK plant unless it can dodge EU pollution rules |work=Greenpeace Unearthed |access-date=December 8, 2025}}</ref>

[[Greenpeace]] has targeted INEOS over plastic pollution and the company's opposition to the Global Plastics Treaty. INEOS is the UK's largest plastics manufacturer, producing pellets daily at Grangemouth sufficient to make 60 million plastic bottles.<ref name="greenpeace-plastic">{{cite news |url=https://www.greenpeace.org.uk/news/greenpeace-plastic-protesters-stand-down-after-blocking-ineos-mega-tanker-for-24-hours/ |title=Greenpeace plastic protesters stand down after blocking INEOS mega tanker for 24 hours |work=Greenpeace UK |access-date=December 8, 2025}}</ref>

Environmental campaigners have criticized INEOS's acquisition of the Team Sky cycling team as "[[greenwashing]]," given the apparent contradiction between sponsoring a sport associated with health and fitness while operating inherently polluting businesses.<ref name="energytransition">{{cite web |url=https://energytransition.org/2020/09/ineosvthepeople-the-relatively-unknown-chemicals-giant-from-the-world-of-plastic/ |title=#IneosVthePeople: The relatively unknown chemicals giant from the world of plastic |work=EnergyTransition.org |access-date=December 8, 2025}}</ref>

=== "Project One" petrochemical plant ===

INEOS has faced criticism for its "Project One" petrochemical plant in Antwerp, Belgium, which will import fracked [[shale gas]] from the United States to produce [[ethylene]]—a building block for plastics—at a rate of 1,450 kilotons per year. Environmental campaigners have labeled the project a "carbon bomb."<ref name="leftfootforward">{{cite news |url=https://leftfootforward.org/2024/03/who-is-jim-ratcliffe-the-pro-brexit-billionaire-promised-e700m-from-uk-government-to-build-carbon-bomb-in-europe/ |title=Who is Jim Ratcliffe, the pro-Brexit billionaire promised €700m from UK government to build 'carbon bomb' in Europe? |work=Left Foot Forward |access-date=December 8, 2025}}</ref>

== Personal life ==

Ratcliffe married Amanda Townson in 1985. The couple had two sons—George and Samuel—before divorcing in 1995.<ref name="goodreturns">{{cite web |url=https://www.goodreturns.in/james-ratcliffe-net-worth-and-biography-blnr130.html |title=James Ratcliffe Net Worth and Biography |work=Goodreturns |access-date=December 8, 2025}}</ref>

He has a daughter, Julia, from a subsequent relationship with Maria Alessia Maresca, an Italian tax lawyer.<ref name="thecityceleb">{{cite web |url=https://www.thecityceleb.com/biography/people/who-is-maria-alessia-maresca-sir-jim-ratcliffes-wife-bio-age-children-parents-net-worth-height-husband/ |title=Who is Maria Alessia Maresca? |work=The City Celeb |access-date=December 8, 2025}}</ref>

Ratcliffe splits his time between Monaco and Hampshire. He has described himself as an adventurer, having traveled to both the [[North Pole]] and [[South Pole]], completed a three-month motorcycle trip across South Africa, and finished the [[Marathon des Sables]] across the [[Sahara Desert]] in 2013.<ref name="wikipedia" />

== Honors and awards ==

Ratcliffe was made a [[Knight Bachelor]] in 2018 for his contributions to business and investment.<ref name="wikipedia" />

== Net worth ==

As of May 2025, the ''[[Sunday Times Rich List]]'' estimates Ratcliffe's net worth at £17.05 billion (approximately US$22.7 billion). This represents a decline of £6.5 billion (approximately US$8.7 billion, or 28%) from the previous year, attributed to challenges in the chemicals industry and at Manchester United. Ratcliffe fell from fourth to seventh place on the list.<ref name="sundaytimes-2025" />

The [[Bloomberg Billionaires Index]] provides a lower estimate of approximately US$15 billion.<ref name="fortune-networth">{{cite news |url=https://fortune.com/europe/2025/05/16/sir-jim-ratcliffe-manchester-unitednet-worth-plunge-chemicals-extinction/ |title=Sir Jim Ratcliffe sees net worth plunge by reported $8.7 billion |work=Fortune |date=May 16, 2025 |access-date=December 8, 2025}}</ref>

In May 2018, Ratcliffe briefly became the richest person in the UK, with a net worth of £21.05 billion.<ref name="wikipedia" />

== References ==
{{reflist}}

== External links ==
* [https://www.ineos.com/ INEOS official website]
* [https://www.ineosgrenadiers.com/ Ineos Grenadiers official website]
* [https://www.bloomberg.com/billionaires/profiles/james-a-ratcliffe/ Bloomberg Billionaires profile]

{{DEFAULTSORT:Ratcliffe, Jim}}
[[Category:Chief executive officers]]
[[Category:Living people]]
[[Category:1952 births]]
[[Category:British billionaires]]
[[Category:Knights Bachelor]]
[[Category:Alumni of the University of Birmingham]]
[[Category:Alumni of London Business School]]
[[Category:British chemical engineers]]
[[Category:Manchester United F.C. owners]]
[[Category:People from Failsworth]]
[[Category:People from Monaco]]

← Older revision		Revision as of 07:51, 22 December 2025
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	{{Infobox person		{{Infobox person
	\| name = Sir Jim Ratcliffe		\| name = Sir Jim Ratcliffe
	\| image = Jim_Ratcliffe_2022.jpg		\| image = Jim_Ratcliffe_2022.jpg
	\| image_size = 300px		\| image_size = 300px
	\| caption =		\| caption =
	\| birth_name = James Arthur Ratcliffe		\| birth_name = James Arthur Ratcliffe
	\| birth_date = October 18, 1952		\| birth_date = October 18, 1952
	\| birth_place = [[Failsworth]], [[Lancashire]], England		\| birth_place = [[Failsworth]], [[Lancashire]], England
	\| nationality = British		\| nationality = British
	\| education = [[University of Birmingham]] (BEng)<br>[[London Business School]] (MBA)		\| education = [[University of Birmingham]] (BEng)<br>[[London Business School]] (MBA)
	\| alma_mater = [[University of Birmingham]]<br>[[London Business School]] (MBA)		\| alma_mater = [[University of Birmingham]]<br>[[London Business School]] (MBA)
	\| occupation = Businessman, industrialist		\| occupation = Businessman, industrialist
	\| title = Chairman & CEO of [[INEOS]]		\| title = Chairman & CEO of [[INEOS]]
	\| spouse = {{marriage\|Amanda Townson\|1985\|1995\|end=div}}<br>Maria Alessia Maresca (previous relationship)		\| spouse = {{marriage\|Amanda Townson\|1985\|1995\|end=div}}<br>Maria Alessia Maresca (previous relationship)
	\| children = 3		\| children = 3
	\| residence = [[Monaco]]		\| residence = [[Monaco]]
	\| net_worth = US$22.7 billion (May 2025)		\| net_worth = US$22.7 billion (May 2025)
	\| awards = [[Knight Bachelor]] (2018)		\| awards = [[Knight Bachelor]] (2018)
	}}		}}

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	=== Early career ===		=== Early career ===

	After graduating from Birmingham, Ratcliffe was hired by oil company [[BP]] but was dismissed after just three days. The reason given was that he had [[eczema]], which made him unfit to work around toxic ~~chemicals—a~~ medical condition BP had overlooked during the hiring process.<ref name="lovemoney" />		After graduating from Birmingham, Ratcliffe was hired by oil company [[BP]] but was dismissed after just three days. The reason given was that he had [[eczema]], which made him unfit to work around toxic chemicals - a medical condition BP had overlooked during the hiring process.<ref name="lovemoney" />

	He subsequently took a position as a trainee accountant at a pharmaceuticals company before joining [[Esso]], which funded his MBA at London Business School. Following his MBA, Ratcliffe worked for [[Courtaulds]], a fabric and chemicals manufacturer, remaining there until his mid-thirties.<ref name="headspace" />		He subsequently took a position as a trainee accountant at a pharmaceuticals company before joining [[Esso]], which funded his MBA at London Business School. Following his MBA, Ratcliffe worked for [[Courtaulds]], a fabric and chemicals manufacturer, remaining there until his mid-thirties.<ref name="headspace" />

	In 1989, Ratcliffe joined [[Advent International]], a U.S. ~~private~~ equity firm. He became chief executive officer and led a series of acquisitions. The resulting company, Inspec, listed on the [[London Stock Exchange]] in 1994. He departed Inspec in 1998.<ref name="wikipedia" />		In 1989, Ratcliffe joined [[Advent International]], a U.S. Private equity firm. He became chief executive officer and led a series of acquisitions. The resulting company, Inspec, listed on the [[London Stock Exchange]] in 1994. He departed Inspec in 1998.<ref name="wikipedia" />

	=== Founding INEOS ===		=== Founding INEOS ===
Line 47:		Line 47:
	Using [[high-yield debt]] to finance acquisitions, Ratcliffe pursued a strategy of acquiring unwanted chemical operations from larger conglomerates, selecting targets based on their potential to double earnings over a five-year period. He purchased operations from companies including [[Imperial Chemical Industries\|ICI]] and [[BP]].<ref name="wikipedia" />		Using [[high-yield debt]] to finance acquisitions, Ratcliffe pursued a strategy of acquiring unwanted chemical operations from larger conglomerates, selecting targets based on their potential to double earnings over a five-year period. He purchased operations from companies including [[Imperial Chemical Industries\|ICI]] and [[BP]].<ref name="wikipedia" />

	A transformative deal came in 2005 when INEOS acquired [[BP]]'s refining and petrochemical division, Innovene, for US$8.7 billion. The acquisition gave INEOS refineries and plants across Scotland, Italy, Germany, France, Belgium, and Canada.<ref name="fortune-ineos">{{cite news \|url=https://fortune.com/europe/2024/02/03/manchester-united-takeover-new-owners-ineos-sir-jim-ratcliffe/ \|title=Manchester United revenue soaring despite sinking ~~results—but~~ billionaire investors INEOS see cracks developing \|work=Fortune \|date=February 3, 2024 \|access-date=December 8, 2025}}</ref>		A transformative deal came in 2005 when INEOS acquired [[BP]]'s refining and petrochemical division, Innovene, for US$8.7 billion. The acquisition gave INEOS refineries and plants across Scotland, Italy, Germany, France, Belgium, and Canada.<ref name="fortune-ineos">{{cite news \|url=https://fortune.com/europe/2024/02/03/manchester-united-takeover-new-owners-ineos-sir-jim-ratcliffe/ \|title=Manchester United revenue soaring despite sinking results - but billionaire investors INEOS see cracks developing \|work=Fortune \|date=February 3, 2024 \|access-date=December 8, 2025}}</ref>

	By 2011, INEOS had become one of the world's ten largest chemical enterprises, with annual sales reaching US$43 billion. Today, the company operates across 29 countries, employs over 26,000 people, and produces products ranging from plastics and synthetic oils to solvents used in pharmaceuticals.<ref name="bbntimes" />		By 2011, INEOS had become one of the world's ten largest chemical enterprises, with annual sales reaching US$43 billion. Today, the company operates across 29 countries, employs over 26,000 people, and produces products ranging from plastics and synthetic oils to solvents used in pharmaceuticals.<ref name="bbntimes" />
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	=== Grangemouth refinery closure ===		=== Grangemouth refinery closure ===

	In 2023, [[Petroineos]]—a joint venture between INEOS and Chinese state-owned [[PetroChina]]~~—announced~~ it would cease refining operations at [[Grangemouth refinery\|Grangemouth]], Scotland's only oil refinery. Refining operations ended on April 29, 2025, with the site converting to a fuel import terminal.<ref name="stv-grangemouth">{{cite news \|url=https://news.stv.tv/scotland/all-oil-refining-in-scotland-ends-as-grangemouth-operation-ceases \|title=All oil refining in Scotland ends as Grangemouth operations cease \|work=STV News \|access-date=December 8, 2025}}</ref>		In 2023, [[Petroineos]] - a joint venture between INEOS and Chinese state-owned [[PetroChina]] - announced it would cease refining operations at [[Grangemouth refinery\|Grangemouth]], Scotland's only oil refinery. Refining operations ended on April 29, 2025, with the site converting to a fuel import terminal.<ref name="stv-grangemouth">{{cite news \|url=https://news.stv.tv/scotland/all-oil-refining-in-scotland-ends-as-grangemouth-operation-ceases \|title=All oil refining in Scotland ends as Grangemouth operations cease \|work=STV News \|access-date=December 8, 2025}}</ref>

	The closure resulted in approximately 400 job losses. Ratcliffe blamed the UK's "lack of energy strategy" and high energy costs, warning that the country's chemicals industry faced "extinction."<ref name="scotsman-extinction">{{cite news \|url=https://www.scotsman.com/news/politics/sir-jim-ratcliffe-accuses-ministers-of-overseeing-industry-extinction-as-plant-closes-4940183 \|title=Sir Jim Ratcliffe warns of industry 'extinction' as Grangemouth plant closes \|work=The Scotsman \|access-date=December 8, 2025}}</ref>		The closure resulted in approximately 400 job losses. Ratcliffe blamed the UK's "lack of energy strategy" and high energy costs, warning that the country's chemicals industry faced "extinction."<ref name="scotsman-extinction">{{cite news \|url=https://www.scotsman.com/news/politics/sir-jim-ratcliffe-accuses-ministers-of-overseeing-industry-extinction-as-plant-closes-4940183 \|title=Sir Jim Ratcliffe warns of industry 'extinction' as Grangemouth plant closes \|work=The Scotsman \|access-date=December 8, 2025}}</ref>
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	Ratcliffe is a prominent [[Euroscepticism\|Eurosceptic]] who publicly supported the UK's departure from the [[European Union]]. In 2019, he stated: "As a business, INEOS supported the common market, but not a United States of Europe."<ref name="wikipedia" />		Ratcliffe is a prominent [[Euroscepticism\|Eurosceptic]] who publicly supported the UK's departure from the [[European Union]]. In 2019, he stated: "As a business, INEOS supported the common market, but not a United States of Europe."<ref name="wikipedia" />

	In September 2020, Ratcliffe officially changed his tax residence from [[Hampshire]], England, to [[Monaco]]—a move estimated to save him approximately £4 billion in tax.<ref name="theweek-monaco">{{cite news \|url=https://theweek.com/95735/why-has-britain-s-richest-man-sir-jim-ratcliffe-moved-to-monaco \|title=Why has Britain's richest man, Sir Jim Ratcliffe, moved to Monaco? \|work=The Week \|access-date=December 8, 2025}}</ref>		In September 2020, Ratcliffe officially changed his tax residence from [[Hampshire]], England, to [[Monaco]] - a move estimated to save him approximately £4 billion in tax.<ref name="theweek-monaco">{{cite news \|url=https://theweek.com/95735/why-has-britain-s-richest-man-sir-jim-ratcliffe-moved-to-monaco \|title=Why has Britain's richest man, Sir Jim Ratcliffe, moved to Monaco? \|work=The Week \|access-date=December 8, 2025}}</ref>

	The move drew criticism given his outspoken support for Brexit, with commentators noting the irony of an advocate for British sovereignty relocating to a tax haven. The UK's [[Honours Forfeiture Committee]] subsequently inserted what has been termed a "Ratcliffe clause" into the [[British honours system\|honours system]], reserving the right to reclaim honours from individuals who collect knighthoods and subsequently move their fortunes offshore.<ref name="tortoise">{{cite web \|url=https://www.tortoisemedia.com/audio/a-very-british-business/ \|title=A very British business \|work=Tortoise Media \|access-date=December 8, 2025}}</ref>		The move drew criticism given his outspoken support for Brexit, with commentators noting the irony of an advocate for British sovereignty relocating to a tax haven. The UK's [[Honours Forfeiture Committee]] subsequently inserted what has been termed a "Ratcliffe clause" into the [[British honours system\|honours system]], reserving the right to reclaim honours from individuals who collect knighthoods and subsequently move their fortunes offshore.<ref name="tortoise">{{cite web \|url=https://www.tortoisemedia.com/audio/a-very-british-business/ \|title=A very British business \|work=Tortoise Media \|access-date=December 8, 2025}}</ref>
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	=== "Project One" petrochemical plant ===		=== "Project One" petrochemical plant ===

	INEOS has faced criticism for its "Project One" petrochemical plant in Antwerp, Belgium, which will import fracked [[shale gas]] from the United States to produce [[ethylene]]—a building block for ~~plastics—at~~ a rate of 1,450 kilotons per year. Environmental campaigners have labeled the project a "carbon bomb."<ref name="leftfootforward">{{cite news \|url=https://leftfootforward.org/2024/03/who-is-jim-ratcliffe-the-pro-brexit-billionaire-promised-e700m-from-uk-government-to-build-carbon-bomb-in-europe/ \|title=Who is Jim Ratcliffe, the pro-Brexit billionaire promised €700m from UK government to build 'carbon bomb' in Europe? \|work=Left Foot Forward \|access-date=December 8, 2025}}</ref>		INEOS has faced criticism for its "Project One" petrochemical plant in Antwerp, Belgium, which will import fracked [[shale gas]] from the United States to produce [[ethylene]] - a building block for plastics - at a rate of 1,450 kilotons per year. Environmental campaigners have labeled the project a "carbon bomb."<ref name="leftfootforward">{{cite news \|url=https://leftfootforward.org/2024/03/who-is-jim-ratcliffe-the-pro-brexit-billionaire-promised-e700m-from-uk-government-to-build-carbon-bomb-in-europe/ \|title=Who is Jim Ratcliffe, the pro-Brexit billionaire promised €700m from UK government to build 'carbon bomb' in Europe? \|work=Left Foot Forward \|access-date=December 8, 2025}}</ref>

	== Personal life ==		== Personal life ==

	Ratcliffe married Amanda Townson in 1985. The couple had two ~~sons—George~~ and ~~Samuel—before~~ divorcing in 1995.<ref name="goodreturns">{{cite web \|url=https://www.goodreturns.in/james-ratcliffe-net-worth-and-biography-blnr130.html \|title=James Ratcliffe Net Worth and Biography \|work=Goodreturns \|access-date=December 8, 2025}}</ref>		Ratcliffe married Amanda Townson in 1985. The couple had two sons - George and Samuel - before divorcing in 1995.<ref name="goodreturns">{{cite web \|url=https://www.goodreturns.in/james-ratcliffe-net-worth-and-biography-blnr130.html \|title=James Ratcliffe Net Worth and Biography \|work=Goodreturns \|access-date=December 8, 2025}}</ref>

	He has a daughter, Julia, from a subsequent relationship with Maria Alessia Maresca, an Italian tax lawyer.<ref name="thecityceleb">{{cite web \|url=https://www.thecityceleb.com/biography/people/who-is-maria-alessia-maresca-sir-jim-ratcliffes-wife-bio-age-children-parents-net-worth-height-husband/ \|title=Who is Maria Alessia Maresca? \|work=The City Celeb \|access-date=December 8, 2025}}</ref>		He has a daughter, Julia, from a subsequent relationship with Maria Alessia Maresca, an Italian tax lawyer.<ref name="thecityceleb">{{cite web \|url=https://www.thecityceleb.com/biography/people/who-is-maria-alessia-maresca-sir-jim-ratcliffes-wife-bio-age-children-parents-net-worth-height-husband/ \|title=Who is Maria Alessia Maresca? \|work=The City Celeb \|access-date=December 8, 2025}}</ref>
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	[[Category:Alumni of London Business School]]		[[Category:Alumni of London Business School]]
	[[Category:British chemical engineers]]		[[Category:British chemical engineers]]
	[[Category:Manchester United F.C. ~~owners~~]]		[[Category:Manchester United F.C. Owners]]
	[[Category:People from Failsworth]]		[[Category:People from Failsworth]]
	[[Category:People from Monaco]]		[[Category:People from Monaco]]