UK’s richest man thrust into the limelight
Ratcliffe amassed wealth through unlisted company
London — Reclusive titan of industry Jim Ratcliffe has found himself under unusual scrutiny after being declared Britain’s wealthiest man, with his political leanings and tax affairs coming under the microscope. The 65-year-old head of the Ineos chemicals group has assets worth an estimated £21bn, putting him top of the 2018 Sunday Times rich list. He was only 18th on the 2017 list but the value of his company, of which he owns 60%, soared in 2017, propelling him up the ranks and earning him a knighthood from Queen Elizabeth II. It is a long way from his humble beginnings, growing up in social housing in Manchester, northern England. After earning a chemistry degree from the University of Birmingham and an MBA from the London Business School, Ratcliffe began his 40-year career at investment company Advent International before creating Ineos in 1998.
The company went on to become an industrial juggernaut in a country increasingly dominated by the service sector. The group now h...
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