{{Short description|British engineer and businessman (born 1952)}} {{pp|small=yes}} {{Use dmy dates|date=February 2024}} {{Infobox person | honorific_prefix = Sir | name = Jim Ratcliffe | honorific_suffix = {{post-nominals|country=GBR|size=100%|FIChemE}} | image = Jim Ratcliffe PET 2013 03 25 DSC 0554.JPG | caption = Ratcliffe in 2013 | birth_name = James Arthur Ratcliffe | birth_date = {{Birth date and age|1952|10|18|df=y}} | birth_place = Failsworth, England | death_date = | death_place = | other_names = | known_for = | occupation = Chairman, CEO and founder of INEOS | alma_mater = {{ubl|University of Birmingham (BSc, MSc)|London Business School (MBA)}} | spouse = Catherine Polli | partner = | children = 3 }}
'''Sir James Arthur Ratcliffe''' (born 18 October 1952) is a British billionaire, chemical engineer, and businessman. Ratcliffe is the chairman and chief executive officer (CEO) of the INEOS chemicals group, which he founded in 1998.
In May 2018, Ratcliffe was the richest person in the UK, with a net worth of £21.05 billion.<ref name="The Sunday Times-2018">{{cite news|title=The Rich List: At last, the self-made triumph over old money|url=https://www.thetimes.com/uk/politics/article/sunday-times-rich-list-2018-at-last-the-self-made-triumph-over-old-money-0qx8tqvjp|date=13 May 2018|work=The Sunday Times|editor1=Watts, Robert|access-date=13 May 2018}}</ref> As of May 2023, the ''Sunday Times Rich List 2023'' estimated his net worth at £29.6 billion, making him the second wealthiest figure in the UK.<ref name="Sir Jim Ratcliffe net worth">{{cite news|url=https://www.thetimes.com/sunday-times-rich-list/profile/article/sir-jim-ratcliffe-net-worth-sunday-times-rich-list-f8qt9sdgj|title= Sir Jim Ratcliffe net worth — Sunday Times Rich List 2023 |website=|access-date=21 May 2023}}</ref> In September 2020, Ratcliffe officially changed his tax residence from Hampshire to Monaco, a move that it is estimated will save him £4 billion in tax.<ref name="Neate-2020">{{cite news |last1=Neate |first1=Rupert |title=Sir Jim Ratcliffe, UK's richest person, moves to tax-free Monaco |url=https://www.theguardian.com/business/2020/sep/25/sir-jim-ratcliffe-uks-richest-person-moves-to-tax-free-monaco-brexit-ineos-domicile |access-date=25 September 2020 |work=The Guardian |date=25 September 2020}}</ref>
In February 2024, Ratcliffe became a minority shareholder in the English football club Manchester United and gained control over sporting operations.
==Early life and education== Ratcliffe was born in Failsworth, Lancashire (now in Greater Manchester),<ref name=":1">{{Cite web |last1=Wood |first1=Liam |last2=Flintham |first2=Jack |date=24 December 2023 |title=Meet Sir Jim Ratcliffe – the Failsworth billionaire set for Man Utd investment |url=https://www.manchestereveningnews.co.uk/sport/football/football-news/who-sir-jim-ratcliffe-meet-28081290 |access-date=20 February 2024 |website=Manchester Evening News |language=en}}</ref><ref name=":2">{{Cite news |date=13 May 2018 |title=Jim Ratcliffe: Who is the man buying Man Utd stake? |url=https://www.bbc.com/news/business-44101223 |access-date=20 February 2024 |work=BBC News |language=en-GB}}</ref><ref>{{cite news |url=https://www.thetimes.com/sport/football/article/sir-jim-ratcliffe-may-take-over-man-united-but-his-record-is-ordinary-7xx58j0rz |title=Sir Jim Ratcliffe may take over Man United but his record is ordinary |last=Walsh |first=David |date=14 May 2023 |work=The Times |url-access=subscription |access-date=31 May 2023}}</ref> where his father worked as a joiner and went on to run a factory that made laboratory furniture. His mother worked in an accounts office. He was raised in a council house in the town until the age of 10, when the family moved to East Yorkshire. He was educated at Beverley Grammar School.<ref>{{Cite news|url=https://www.thetimes.com/business-money/article/the-deal-that-made-jim-ratcliffe-britains-richest-man-9fznvb9hd|title=The deal that made Jim Ratcliffe Britain's richest man|date=3 June 2018|via=www.thetimes.co.uk}}</ref><ref>{{Cite web|url=http://www.manchestereveningnews.co.uk/business/meet-billionaire-ineos-boss-jim-10026213|title=Meet billionaire Ineos boss Jim Ratcliffe, one of Manchester's most successful entrepreneurs of all time|first=Alex|last=Bell|date=10 September 2015|website=men}}</ref> In 1974, he graduated with a 2:1 in chemical engineering from the University of Birmingham.<ref>{{Cite web |date=2012-07-06 |title=Notable Alumni |url=https://www.beverleygrammar.co.uk/history-notable-alumni/notable-alumni/ |access-date=2024-05-19 |website=Beverley Grammar School |language=en-GB}}</ref>
==Career== After graduating, Ratcliffe worked at the oil firm BP but was fired after 3 days.<ref name="Watts">{{Cite news |last=Watts |first=Robert |date=2024-05-19 |title=Jim Ratcliffe interview: the head of chemical giant Ineos and Britain's richest man on his disdain for George Osborne |newspaper=The Times |url=https://www.thetimes.com/sunday-times-rich-list/article/sunday-times-rich-list-2018-jim-ratcliffe-interview-ineos-uk-richest-man-net-worth-f0ctmwzwb |access-date=2024-05-19 |language=en |issn=0140-0460}}</ref> The reason given for his dismissal was that he had eczema, which made him unfit to work around toxic chemicals.<ref name="Watts"/> This was a medical condition that BP had overlooked prior to Ratcliffe joining.<ref name="Watts"/> After leaving BP he took up a position as a trainee accountant at a pharmaceuticals company.<ref name="Watts"/>
A few years later, Ratcliffe joined oil giant Esso. From 1978 to 1980, Esso funded his MBA at the London Business School (he donated £25 million to the school in 2016).<ref name="Pfeifer-2014">{{cite news |last1=Pfeifer |first1=Sylvia |date=20 November 2014 |title=Jim Ratcliffe |url=https://www.ft.com/content/9318986c-8ec2-11e3-b6f1-00144feab7de |access-date=30 May 2023 |work=Financial Times}}</ref>{{failed verification|date=May 2026}} Ratcliffe went on to work for the fabric and chemicals producer Courtaulds,<ref>{{Cite web |title=Our Leadership {{!}} INEOS Group |url=https://www.ineos.com/about/our-leadership/ |access-date=2024-06-21 |website=www.ineos.com |language=en}}</ref><ref>{{Cite news |date=2018-05-13 |title=Jim Ratcliffe: Who is the man buying Man Utd stake? |url=https://www.bbc.com/news/business-44101223 |access-date=2024-06-21 |work=BBC News |language=en-GB}}</ref> where he stayed until his mid-thirties.<ref>{{Cite web |last=Watts |first=Robert |date=2024-06-21 |title=Jim Ratcliffe interview: the head of chemical giant Ineos and Britain's richest man on his disdain for George Osborne |url=https://www.thetimes.com/article/sunday-times-rich-list-2018-jim-ratcliffe-interview-ineos-uk-richest-man-net-worth-f0ctmwzwb |access-date=2024-06-21 |website=www.thetimes.com |language=en}}</ref> In 1989, he joined US private equity group Advent International.<ref>{{cite web |url=http://www.liverpooldailypost.co.uk/business/business-news/quiet-entrepreneur-who-wealthy-richard-5474549 |title=The quiet entrepreneur who is as wealthy as Richard Branson, but nowhere near as famous |author=<!--Staff writer(s); no by-line.--> |date=17 March 2010 |website=Liverpool Daily Post |publisher= |access-date=26 November 2013}}</ref>
===INEOS=== {{main|Ineos}} Ratcliffe was a co-founder of Inspec, which leased the former BP Chemicals site in Antwerp, Belgium.<ref name="Pfeifer-2014"/><ref>{{cite news |title=Ratcliffe in joint bid for ICI's acrylics arm |last1=Marsh |first1=Virginia |last2=Rivlin |first2=Richard |work=Financial Times |location=London, UK |date=18 September 1999 |page=26}}</ref> In 1998, Ratcliffe formed INEOS in Hampshire to buy-out Inspec and the freehold of the Antwerp site.<ref>{{cite news |title=New Company Purchases Antwerp Unit of Inspec |url=https://www.nytimes.com/1998/04/15/business/international-briefs-new-company-purchases-antwerp-unit-of-inspec.html |access-date=30 May 2023 |work=The New York Times |date=15 April 1998}}</ref>
From this small base, using high-yield debt to finance deals, Ratcliffe started buying unwanted operations from groups such as ICI and BP, selecting targets based on their potential to double their earnings over a five-year period. In 2006, INEOS bought BP's refining and petrochemical arm Innovene, giving INEOS refineries and plants in Scotland, Italy, Germany, France, Belgium and Canada.<ref name="Dominic O'Connell-2007">{{cite news |author=Dominic O'Connell |date=29 April 2007 |title=Ratcliffe in richest top 10 |url=http://business.timesonline.co.uk/tol/business/industry_sectors/industrials/article1719202.ece |archive-url=https://archive.today/20110612015554/http://business.timesonline.co.uk/tol/business/industry_sectors/industrials/article1719202.ece |url-status=dead |archive-date=12 June 2011 |access-date=11 February 2026 |work=Times Online |location=London}}</ref><ref name="Grainne Gilmore-2008">{{Cite news |author=Grainne Gilmore |date=21 April 2008 |title=Business big shot: Jim Ratcliffe |url=http://business.timesonline.co.uk/tol/business/movers_and_shakers/executive_movers/article3785069.ece |archive-url=https://web.archive.org/web/20080706183447/http://business.timesonline.co.uk/tol/business/movers_and_shakers/executive_movers/article3785069.ece |url-status=dead |archive-date=6 July 2008 |access-date=22 June 2008 |work=The Times |location=London}}</ref>
The company acquired Norsk Hydro's polymers business in 2007, allowing INEOS to expand its presence in the European polymers market, particularly in polyvinyl chloride (PVC) production, significantly strengthening its market position.<ref>{{cite web|url=https://www.business-sale.com/insights/for-buyers/how-sir-jim-ratcliffe-built-ineos-into-the-uks-biggest-private-company-225465|title=How Sir Jim Ratcliffe built INEOS into the UK's biggest private company|last=|first=|date=|website=www.business-sale.com.com|access-date=18 December 2023}}</ref>
In April 2010, Ratcliffe moved INEOS's head office from Hampshire to Rolle, Switzerland, cutting the amount of tax the company paid by £100 million a year.<ref>{{cite news|last1=Fortson|first1=Danny|last2=Grimston|first2=Jack|date=11 April 2010|title=Tycoon flees UK to save £100m tax|url=https://www.thetimes.com/business-money/companies/article/tycoon-flees-uk-to-save-100m-tax-wkqtdgj9jkh|url-status=live|work=The Times|archive-url=https://archive.today/20211008005914/https://www.thetimes.co.uk/article/tycoon-flees-uk-to-save-pound100m-tax-wkqtdgj9jkh|archive-date=8 October 2021|url-access=subscription|access-date=28 March 2022}}</ref><ref>{{cite news|last=Fortson|first=Danny|date=17 July 2016|title=Chemicals tycoon Ratcliffe heads home from Swiss tax exile|url=https://www.thetimes.com/business-money/economics/article/chemicals-tycoon-ratcliffe-heads-home-from-swiss-tax-exile-hm8gp29h0|url-status=live|work=The Times|archive-url=https://archive.today/20210810022323/https://www.thetimes.co.uk/article/chemicals-tycoon-ratcliffe-heads-home-from-swiss-tax-exile-hm8gp29h0|archive-date=10 August 2021|url-access=subscription|access-date=28 March 2022}}</ref>
In 2015, Ratcliffe opened the UK headquarters of the chemicals and energy group in Knightsbridge, London, along with gas and oil trading, and other functions, saying he was "very cheerful about coming back to the UK". He was pleased with UK policy and London as a business base, and untroubled by the prospect of Brexit. Full year 2015 EBITDA was €577 million compared to €253 million for 2014.<ref>{{cite web|url=http://www.ineos.com/news/ineos-group/q4-2015-trading-statement|title=Q4, 2015 Trading Statement|last=|first=|date=24 February 2016|website=www.ineos.com|access-date=19 March 2018}}</ref>
In the ''Sunday Times Rich List 2018'', he was named as the richest man in the UK, with a net worth of £21.05 billion.<ref name="The Sunday Times-2018"/>
In February 2019, it was announced that INEOS would invest £1bn in the UK oil and chemical industries, to include an overhaul of the Forties pipeline system that is responsible for transporting a significant percentage of the UK's North Sea oil and gas.<ref>{{cite news|url=https://www.bbc.co.uk/news/business-47376169|title=UK's richest man in £1bn oil and chemicals investment|work=BBC|date=27 February 2019 |access-date=27 February 2019}}</ref>
On 1 May 2019, Ratcliffe criticised the current government rules that say fracking in Britain must be suspended every time a 0.5 magnitude tremor is detected, which has led to a ''de facto'' ban on fracking, calling the government "pathetic".<ref>{{Cite news |url=https://www.bbc.com/news/business-48125581 |title=Fracking boss calls government 'pathetic' |date=1 May 2019 |access-date=1 May 2019 |website=BBC |language=en-GB}}</ref>
Ineos Automotive was founded by Ratcliffe, initially to build a replacement for his Land Rover Defender. He unsuccessfully approached Jaguar Land Rover to buy the tooling to continue production after the original model was cancelled. Instead, in 2019 Ratcliffe formed partnerships with BMW and Magna Steyr to design and build a similar vehicle under the codename Projekt Grenadier. The 5-door Grenadier Station Wagon went into production in October 2022, followed by the launch of the Quartermaster utility vehicle in 2023.{{citation needed|date=July 2024}}
=== Energy transition === In October 2021, Ratcliffe announced plans to invest more than €2 billion (£1.7 billion) into electrolysis projects to make zero-carbon green hydrogen across Europe.<ref>{{Cite news|url=https://www.telegraph.co.uk/business/2021/10/18/uk-snubbed-first-stage-2bn-hydrogen-plant-scheme/|title=Jim Ratcliffe snubs Britain in €2bn green hydrogen scheme|first=Lucy|last=Burton|newspaper=The Telegraph |date=18 October 2021|via=www.telegraph.co.uk}}</ref> He said the first units will produce clean hydrogen through the electrolysis of water in Norway, powered by renewable electricity, and will serve as a hub to provide gas for the country's transport industry. This will be followed by projects in Germany and Belgium. Ratcliffe also intends to invest in France and the UK, where his hydrogen business will be headquartered.{{citation needed|date=July 2024}}
=== Environmental pollution === In March 2019, INEOS said it would close its Middlesbrough manufacturing plant, unless it is allowed to "defer compliance" with EU rules designed to prevent air and water pollution.<ref name="Webster-2019">{{Cite news|url=https://www.thetimes.com/uk/environment/article/sir-jim-ratcliffe-s-firm-ineos-made-threat-over-dirty-air-rules-3qzgwxrcg|title=Sir Jim Ratcliffe's firm Ineos made threat over dirty air rules|last=Webster|first=Ben|date=23 March 2019|work=The Times|access-date=4 April 2019|language=en|issn=0140-0460}}</ref> An analysis of data from the Environment Agency (EA) also reveals the plant clocked up 176 permit violations between 2014 and 2017.<ref name="Webster-2019"/> An EA spokesperson said: "Air emissions are well over legal limits and this poses a risk to the environment".<ref>{{Cite web|url=https://www.gazettelive.co.uk/news/teesside-news/billionaires-firm-threatened-close-teesside-16017286|title=Billionaire's firm 'threatened to close' Teesside plant|first=David|last=Huntley|date=23 March 2019|website=gazettelive}}</ref> INEOS director Tom Crotty said the firm "cannot justify" the investment required to comply with EU air and water pollution rules due to come into force in the coming years.<ref>{{Cite web|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|date=23 March 2019|website=Unearthed|language=en-GB|access-date=24 March 2019}}</ref>
INEOS has carried out small projects in bio ethanol production using ''Clostridium'' bacteria, but it has had problems because the syngas has levels of hydrogen cyanide too high for the bacteria to survive.<ref>{{Cite web|url=https://www.biofuelsdigest.com/bdigest/2014/09/05/on-the-mend-why-ineos-bio-isnt-reporting-much-ethanol-production/|title=On the Mend: Why INEOS Bio isn't producing ethanol in Florida : Biofuels Digest|date=5 September 2014 }}</ref> INEOS sold its US plant to Alliance Bio-Products in 2017.<ref>{{cite journal |journal=Chemie Ingenieur Technik |publisher=Wiley |doi=10.1002/cite.201900118 |title=Syngas Fermentation to Alcohols: Reactor Technology and Application Perspective |year=2020 |last1=Stoll |first1=I. Katharina |last2=Boukis |first2=Nikolaos |last3=Sauer |first3=Jörg |volume=92 |issue=1–2 |pages=125–136 |doi-access=free }}</ref>
==Sport==
Ratcliffe is keen on sport, and in 2013, he completed the Marathon Des Sables across the Sahara Desert.<ref name="www.ineos.com">{{Cite web |last= |title=Out Of This World |url=http://www.ineos.com/inch-magazine/articles/issue-7/out-of-this-world/ |access-date=4 August 2022 |website=www.ineos.com |language=en}}</ref> He has founded a charity "Go Run for Fun", encouraging thousands of children aged between five and ten to get active by creating celebrity-driven events.<ref name="Heller-2015">{{Cite news |last=Heller |first=David |date=16 July 2015 |title=Ineos owner Jim Ratcliffe: "I'm very cheerful about coming back to the UK" |url=https://www.standard.co.uk/lifestyle/london-life/ineos-owner-jim-ratcliffe-i-m-very-cheerful-about-coming-back-to-the-uk-10393572.html |newspaper=London Evening Standard |access-date=19 July 2015}}</ref> He supported the 2019 INEOS 1:59 Challenge, a successful effort by Eliud Kipchoge to run the classic marathon distance (42.195 kilometres or 26 miles 385 yards) under 2 hours.<ref>{{Cite web|url=https://www.wsj.com/articles/the-billionaire-the-olympian-and-the-quest-for-the-sub-2-hour-marathon-11570794264|title=The Billionaire, the Olympian and the Quest for the Sub-2-Hour Marathon|last=Robinson|first=Joshua|date=11 October 2019|website=Wall Street Journal|language=en-US}}</ref><ref name="Northedge-2007">{{cite news |last=Northedge |first=Richard |date=11 August 2007 |title=Ratcliffe, the alchemist |url=https://www.telegraph.co.uk/finance/migrationtemp/2813915/Ratcliffe-the-alchemist.html |newspaper=The Daily Telegraph |access-date=27 August 2018}}</ref>
He purchased Lausanne-Sport, a Swiss Super League club, in 2017.<ref>{{cite news |last1=Wilson |first1=Bill |title=Chemicals giant Ineos buys Swiss football team |url=https://www.bbc.co.uk/news/business-41969921 |access-date=9 June 2018 |date=13 November 2017}}</ref> Through INEOS, he bought Nice in 2019 from Chinese-American entrepreneur Chien Lee.<ref>{{cite news |title=Nice: British billionaire Jim Ratcliffe's Ineos buys Ligue 1 club |url=https://www.bbc.co.uk/sport/football/49477788 |access-date=27 August 2019 |publisher=BBC Sport |date=26 August 2019}}</ref>
Following the 2022 Russian invasion of Ukraine, sanctions on Roman Abramovich, long-term owner of Premier League side Chelsea, forced him to put the club up for sale. Ratcliffe made a £4.25 billion bid to buy the club but this was rejected.<ref>{{Cite news |last=Bosher |first=Jacob Whitehead and Luke |title=Chelsea takeover bid by Ratcliffe rejected |url=https://www.nytimes.com/athletic/3499910/2022/05/04/chelsea-takeover-bid-worth-4-25bn-by-billionaire-jim-ratcliffe-rejected-ineos-owner-not-giving-up/ |access-date=4 August 2022 |website=The Athletic |language=en}}</ref> Chelsea FC were eventually sold to US businessman Todd Boehly.<ref>{{cite news | url=https://www.bbc.co.uk/sport/football/61575695 | title=Government approves Boehly's Chelsea takeover | work=BBC Sport }}</ref>
In August 2022, Ratcliffe expressed interest in buying the Premier League club Manchester United,<ref>{{cite web | url=https://www.cnn.com/2022/08/18/football/manchester-united-jim-ratcliffe-intl-spt/index.html | title=British billionaire Jim Ratcliffe is interested in buying Manchester United | website=CNN | date=18 August 2022 }}</ref> a team he has supported since childhood.<ref name="Cary-2022">{{cite news |last1=Cary |first1=Tom |last2=Morgan |first2=Tom |title=Sir Jim Ratcliffe is a lifelong Man Utd fan who will not be afraid of battle with the Glazers |url=https://www.telegraph.co.uk/football/2022/11/23/sir-jim-ratcliffe-lifelong-manchester-united-fan-glazers/ |access-date=30 May 2023 |work=The Telegraph |date=23 November 2022}}</ref> The following January, INEOS announced publicly that it had entered into the formal process of bidding for Manchester United, after the current owners announced it was looking for new investors.<ref>{{Cite web |date=17 January 2023 |title=Sir Jim Ratcliffe confirms he is in running to buy Manchester United |url=https://www.theguardian.com/football/2023/jan/17/sir-jim-ratcliffe-manchester-united-ineos-glazers |access-date=18 January 2023 |website=The Guardian |language=en}}</ref><ref>{{Cite web |date=22 November 2022 |title=Manchester United up for sale as Glazers announce plans to leave Old Trafford |url=https://www.theguardian.com/football/2022/nov/22/manchester-united-up-for-sale-as-glazers-announce-plans-to-leave-old-trafford |access-date=18 January 2023 |website=The Guardian |language=en}}</ref> On 24 December 2023, Manchester United announced that Ratcliffe had acquired a 25 percent stake in the club, marking a significant development, as INEOS Sport assumed control over football operations.<ref>{{cite web |last1=United |first1=Manchester |title=Club Statement |url=https://www.manutd.com/en/news/detail/man-utd-reaches-agreement-for-sir-jim-ratcliffe-to-acquire-25-per-cent-shareholding |access-date=24 December 2023 |website=Manchester United F.C |publisher=Communications Department MUFC}}</ref> The purchase was completed in February 2024.<ref>{{Cite web |title=Club statement |url=https://www.manutd.com/en/news/detail/Man-Utd-and-Trawlers-Ltd-announce-successful-completion-of-Sir-Jim-Ratcliffe-minority-investment?utm_campaign=ManUtd&utm_medium=post&utm_source=twitter |access-date=2024-02-22 |website=www.manutd.com |language=en}}</ref> He went on to oversee the culling of up to 450 jobs, as well as stopping the policy of free meals for club staff.<ref>{{Cite web |last=McDonnell |first=David |date=2025-10-09 |title=Ratcliffe doubles down on brutal United cost-cutting amid 'mediocrity' claim |url=https://www.manchestereveningnews.co.uk/sport/football/sir-jim-ratcliffe-doubles-down-32637512 |access-date=2026-02-12 |website=Manchester Evening News |language=en}}</ref>
In sailing, Ratcliffe partnered with Ben Ainslie to form INEOS Team UK to compete (unsuccessfully) for the 36th America's Cup in 2021, with Ratcliffe reportedly investing over £110 million in the project.<ref>{{cite news|author=Hodgetts, Roy |url=https://www.cnn.com/2018/09/04/sport/americas-cup-ineos-jim-ratcliffe-ben-ainslie-spt-intl/index.html |title=Jim Ratcliffe: Britain's richest man plots America's Cup coup |work=CNN |date=5 September 2018 |access-date=26 November 2018}}</ref> INEOS Britannia is the British Challenger of Record representing Royal Yacht Squadron Ltd for the 37th America's Cup, being held in Barcelona in October 2024.<ref>{{cite news|author=Jardine, Mark|url=https://www.sail-world.com/news/280165/INEOS-Britannia-win-the-Louis-Vuitton-Cup#:~:text=This%20could%20be%20the%20final,one%20more%20race%20to%20sail.|title=INEOS Britannia win the Louis Vuitton Cup|date=4 October 2024}}</ref>
In January 2025 Ben Ainslie split from Ineos Britannia America's Cup sailing team.<ref>{{Cite web |date=2025-01-23 |title=America's Cup: Ben Ainslie splits from Sir Jim Ratcliffe's Ineos Britannia sailing team |url=https://www.bbc.co.uk/sport/sailing/articles/cj02m85qeveo |access-date=2026-02-12 |website=BBC Sport |language=en-GB}}</ref>
Ratcliffe purchased the Team Sky cycling franchise in 2019, subsequently rebranded Team INEOS.<ref>{{cite news |last1=Cary |first1=Tom |title=Ineos takeover of Team Sky provokes anger from environmental campaigners |url=https://www.telegraph.co.uk/cycling/2019/03/19/team-sky-confirm-takeover-name-change-team-ineos-new-season/?wgu=272965_16644_15669276273561_9c3b67ddc1&wgexpiry=1574703627&WT.mc_id=tmgoff_paff-4551_subsoffers_basic_planit |access-date=27 August 2019 |work=The Daily Telegraph |date=19 March 2019}}</ref> Their first competitive race under the new INEOS sponsorship, was the 2019 Tour de Yorkshire. They subsequently won the 2019 Tour de France and 2021 Giro d'Italia with the Colombian rider Egan Bernal.{{citation needed|date=July 2024}}
In July 2025, David Rozman, a long-serving carer for the INEOS Grenadiers cycling team, left the Tour de France following an International Testing Agency (ITA) investigation. The investigation concerns alleged 2012 text messages between him and convicted doping doctor Mark Schmidt.<ref>{{Cite web |last=Resolutions |first=Sport |title=Head carer of INEOS Grenadiers under investigation |url=https://www.sportresolutions.com/news/ineos-grenadiers-carer-investigation |access-date=2026-02-12 |website=www.sportresolutions.com |language=en}}</ref>
In 2020, INEOS became principal partners of Mercedes AMG F1, signing a five-year agreement with the team.<ref>{{cite web |last1=Smith |first1=Luke |title=Mercedes Formula 1 team reveals expanded partnership with INEOS |url=https://www.autosport.com/f1/news/148192/mercedes-reveals-expanded-partnership-with-ineos |website=Autosport.com |access-date=11 February 2020 |date=10 February 2020}}</ref>
In 2021, Greenpeace criticised a decision by New Zealand Rugby to accept six years of sponsorship from INEOS as being inconsistent with the country's "clean green" values.<ref name="Corlett-2021"> {{cite news | last1 = Corlett | first1 = Eva | title = Greenpeace criticises New Zealand rugby deal with petrochemical company Ineos | date = 28 July 2021 | work = The Guardian | location = London, United Kingdom | issn = 0261-3077 | url = http://www.theguardian.com/world/2021/jul/28/greenpeace-criticises-new-zealand-rugby-deal-with-petrochemical-company-ineos | access-date = 28 July 2021 }} </ref>
In February 2025, New Zealand Rugby initiated legal proceedings against INEOS for breach of contract, threatening to sue for damages when INEOS wanted to end their sponsorship agreement early. Both parties announced a settlement to avoid a lengthy court battle, with The Guardian reporting that they are satisfied with the outcome.<ref>{{Cite news |last=Media |first=P. A. |date=2025-04-01 |title=New Zealand Rugby and Ineos settle sponsorship contract dispute |url=https://www.theguardian.com/sport/2025/apr/01/new-zealand-rugby-and-ineos-settle-sponsorship-contract-dispute |access-date=2026-02-12 |work=The Guardian |language=en-GB |issn=0261-3077}}</ref>
In May 2025, New York times reported that INEOS was exploring the sale of Ligue 1 club Nice.<ref>[https://www.nytimes.com/athletic/6327445/2025/05/02/ineos-jim-ratcliffe-nice-sale/ “Sir Jim Ratcliffe’s INEOS exploring sale of Ligue 1 club Nice”]</ref>
==Honours and awards== In May 2009, Ratcliffe was granted an honorary fellowship by the Institution of Chemical Engineers citing "his sustained leadership in building the INEOS Group."<ref>{{cite web|url=http://cms.icheme.org/mainwebsite/general-barafc3d75d.aspx?map=aecc70bc252673927bc176496982393a |archive-url=https://web.archive.org/web/20090602023811/http://cms.icheme.org/mainwebsite/general-barafc3d75d.aspx?map=aecc70bc252673927bc176496982393a |url-status=dead |archive-date=2 June 2009 |title=Press release: Ion and Ratcliffe awarded Honorary Fellowships |date=13 May 2009 |publisher=IChemE }}</ref> In 2013, he received the Petrochemical Heritage Award.<ref name="Science History Institute-2016">{{cite web|title=Petrochemical Heritage Award|url=https://www.sciencehistory.org/petrochemical-heritage-award|website=Science History Institute|date=31 May 2016 |access-date=24 March 2018}}</ref> Ratcliffe was appointed Knight Bachelor in the 2018 Birthday Honours for services to business and to investment.<ref>{{London Gazette |issue=62310 |date=9 June 2018 |page=B2 |supp=y}}</ref>
==Personal life== Ratcliffe has two sons with previous wife Amanda Townson,<ref name="Pfeifer-2014" /> and one daughter from a previous relationship with Italian tax lawyer Maria Alessia Maresca.<ref>{{Cite web |title=INEOS Team UK name their first race boat for the 36th America's Cup 'Britannia' |url=http://www.com/en/articles/166 |access-date=3 November 2022 |website=INEOS Team UK |language=en}}</ref><ref>{{Cite web|url=https://www.iceaxe.tv/archive/south-pole-100-2011/|title=South Pole 100 (2011)|website=Ice Axe Expeditions|language=en-US|access-date=22 March 2019}}</ref><ref name="Pfeifer-2014" /> He was married to Catherine Polli.
Ratcliffe enjoys sport and physical adventure, and has made expeditions to the North and South Poles, as well as a three-month motorbike trek in South Africa. In 2013, he completed the Marathon Des Sables across the Sahara Desert,<ref name="www.ineos.com"/> and founded the charity Go Run for Fun, which creates celebrity-led events to encourage five-to-ten-year-olds to get physically active.<ref name="Heller-2015"/><ref name="Northedge-2007"/> Another charity, the Jim Ratcliffe Foundation, helped build a new ski clubhouse in Courchevel to help underprivileged children learn to ski. The Charity Commission for England and Wales has opened an investigation into this charity over a regulatory compliance concern after a donation to a private ski resort.<ref>{{cite web |last1=Neate |first1=Rupert |title=Watchdog investigates charity set up by UK billionaire over £16m ski clubhouse |url=https://www.theguardian.com/news/2023/jan/16/watchdog-investigates-charity-set-up-by-uk-billionaire-jim-ratcliffe-over-16m-ski-clubhouse |website=The Guardian |access-date=18 January 2023 |language=en |date=16 January 2023}}</ref>
Ratcliffe splits his time between Hampshire and Monaco.<ref name="Forbes">{{cite web|title=Forbes profile: James Ratcliffe|url=https://www.forbes.com/profile/james-ratcliffe/|work=Forbes|access-date=6 November 2019}}</ref> In 2017, he submitted his fifth plan to build a luxury home at Thorns Beach near Beaulieu in Hampshire, which would replace an existing two-bedroom bungalow.<ref>{{cite news |last=Yandell |first=Chris |date=10 May 2017 |title=Billionaire businessman Jim Ratcliffe has submitted fifth plan to build luxury home overlooking Solent |url=http://www.dailyecho.co.uk/news/15275210.Fifth_time_lucky__Billionaire_businessman_s_latest_bid_to_build_to_dream_house/ |newspaper=Southern Daily Echo |access-date=19 March 2018}}</ref> In September 2020, he officially changed his tax residence from Hampshire to Monaco, which was estimated to save him £4 billion in tax.<ref name="Neate-2020"/> He owns an estate on the shores of Lake Geneva in Switzerland,<ref>{{Cite news |last=Fortson |first=Danny |title=Call my bluff |newspaper=The Times |language=en |url=https://www.thetimes.com/uk/politics/article/call-my-bluff-6qxpg2wtwqb |access-date=3 November 2022 |issn=0140-0460}}</ref> as well as the hotels Le Portetta in Courchevel and Lime Wood in Hampshire.<ref>{{Cite news |last=Walsh |first=Dominic |title=Ineos chemicals boss Sir Jim Ratcliffe sells his stake in Pig Hotels |newspaper=The Times |language=en |url=https://www.thetimes.com/business-money/article/ineos-chemicals-boss-sir-jim-ratcliffe-sells-his-stake-in-pig-hotels-5pr053vz6 |access-date=3 November 2022 |issn=0140-0460}}</ref>
Ratcliffe has owned two super yachts by Feadship: ''Hampshire'' and ''Hampshire II''. His first yacht was built by Feadship under the name ''Barbara Jean'', and was later sold. In 2012, he took delivery of the {{convert|78|m|adj=on}} ''Hampshire II'', built by Royal Van Lent, which he still owns.<ref name="Super Yacht Fan">{{cite web |title=Motor Yacht Hampshire II |url=http://www.superyachtfan.com/superyacht/superyacht_hampshire_ii.html |access-date=1 December 2014 |website=Super Yacht Fan}}</ref>
==Political views== ===Brexit=== Ratcliffe supported the UK leaving the European Union.<ref name=":0" /> Ratcliffe is a Eurosceptic and said in 2019, "As a business, INEOS supported the common market, but not a United States of Europe".<ref>{{Cite web |title=Ineos' Vote of Confidence in After Brexit |url=https://www.ineos.com/inch-magazine/articles/issue-11/ineos-vote-of-confidence-after-brexit/ |work=INEOS |date=December 2016 |access-date=17 February 2019}}</ref> He is opposed to the "layers and layers" of European legislation that he feels is making European economies increasingly cumbersome and inefficient.<ref name=":0">{{Cite web |last=Pickard |first=Jim |title=Ineos chief makes case for UK to leave European Union |url=https://www.ft.com/content/f9a55b20-2e0c-11e5-91ac-a5e17d9b4cff |work=Financial Times |date=19 July 2015}}</ref><ref>{{Cite web |title=Ineos factory once planned for Wales will now be located in France instead |url=https://www.walesonline.co.uk/news/wales-news/ineos-factory-once-planned-wales-19422778 |work=INEOS |date=December 2020 |access-date=15 December 2020}}</ref> He has publicly expressed his disdain for politicians, criticising them for the way they negotiated the Brexit withdrawal agreement, and how they are often "happy to lunch around bankers" but less keen to discuss economic issues with industrialists and business owners.<ref>{{Cite web |last=Watts |first=Robert |title=Lucky Jim Ratcliffe always has a surprise up his sleeve |url=https://www.thetimes.com/uk/article/lucky-jim-ratcliffe-always-has-a-surprise-up-his-sleeve-vwj835ds6 |work=The Times |date=17 February 2019 |access-date=17 February 2019}}</ref>
===Immigration=== On 12 February 2026, Ratcliffe stated that the UK has been "colonised by immigrants" during an interview by Ed Conway of Sky News.<ref>[https://www.reuters.com/world/uk/uk-billionaire-ratcliffe-says-he-is-sorry-people-were-offended-by-immigration-2026-02-12/?utm_source=chatgpt.com "UK billionaire Ratcliffe says he is sorry people were offended by immigration comments"], Reuters, 12 February 2026</ref>{{AI-retrieved source|date=March 2026|checked=no}} Ratcliffe also criticised the number of people receiving state benefits.<ref>{{Cite web |title='UK has been colonised by immigrants', says INEOS boss and Man Utd co-owner Sir Jim Ratcliffe |url=https://news.sky.com/story/the-uk-has-been-colonised-by-immigrants-says-ineos-boss-and-man-utd-co-owner-sir-jim-ratcliffe-13506333 |access-date=2026-02-12 |website=Sky News |language=en}}</ref><ref>{{Cite web |date=2026-02-12 |title=The awkward truth for Man United behind Jim Ratcliffe’s toxic comments |url=https://www.independent.co.uk/sport/football/jim-ratcliffe-manchester-united-tax-ineos-b2918974.html |access-date=2026-02-12 |website=The Independent |language=en}}</ref> His claim was criticised by some football fans, union leaders, anti-racism campaigners and politicians. Manchester United put out a statement in response to his claims and their Sikh fan group stated that his claims were offensive.<ref>{{Cite web |last=Cardy |first=Phil |date=2026-02-12 |title=Man Utd Sikh fan group founder blasts Jim Ratcliffe's comments as 'offensive' |url=https://www.mirror.co.uk/news/uk-news/man-utd-sikh-fan-group-36714044 |access-date=2026-02-12 |website=Daily Mirror |language=en}}</ref> Government ministers including Keir Starmer and Rachel Reeves labelled Ratcliffe's comments 'offensive and wrong' and 'disgusting' respectively, and asked Ratcliffe to apologise.<ref>{{Cite web |last=Harris |first=Rob |date=2026-02-11 |title=PM asks Sir Jim Ratcliffe to apologise for saying UK 'colonised by immigrants' |url=https://www.news.sky.com/story/sir-jim-ratcliffes-immigration-outburst-risks-antagonising-those-inside-and-out-of-man-utd-13506416les/ckglv1n4dzeo |access-date=2026-02-12 |website=Sky News |language=en-GB}}</ref><ref>{{Cite news |last=Coughlan |first=Joe |last2=Davies |first2=Rob |date=2026-02-11 |title=Starmer tells Jim Ratcliffe to apologise for saying UK ‘colonised’ by immigrants |url=https://www.theguardian.com/business/2026/feb/11/uk-immigrants-man-utd-sir-jim-ratcliffe-tax-monaco |access-date=2026-02-12 |work=The Guardian |language=en-GB |issn=0261-3077}}</ref>
Ratcliffe later apologised that his "choice of language has offended some people in the UK and Europe,"<ref>{{Cite news |last=Topping |first=Alexandra |last2=Ames |first2=Nick |date=2026-02-12 |title=Jim Ratcliffe apologises for ‘choice of language’ after saying immigrants ‘colonising’ UK |url=https://www.theguardian.com/business/2026/feb/12/jim-ratcliffe-accused-hypocrisy-uk-colonised-immigrants |access-date=2026-02-12 |work=The Guardian |language=en-GB |issn=0261-3077}}</ref><ref>{{Cite news |last=Ames |first=Nick |date=2026-02-12 |title=Manchester United assert ‘inclusive’ values as FA looks into Jim Ratcliffe comments |url=https://www.theguardian.com/football/2026/feb/12/fa-jim-ratcliffe-football-rules-immigrants-manchester-united |access-date=2026-02-12 |work=The Guardian |language=en-GB |issn=0261-3077}}</ref> but qualified his apology saying "it is important to raise the issue of controlled and well-managed immigration that supports economic growth."<ref>{{Cite web |date=2026-02-12 |title=Jim Ratcliffe sorry language 'offended some' after immigration comments |url=https://www.bbc.co.uk/news/articles/cd6zvlywz77o |access-date=2026-02-12 |website=BBC News |language=en-GB}}</ref>
== See also ==
* Ineos Group Limited * List of British billionaires by net worth
==References== <!--<nowiki> See http://en.wikipedia.org/wiki/Wikipedia:Footnotes for an explanation of how to generate footnotes using the <ref> and </ref> tags, and the template below. </nowiki>--> {{Reflist}}
==External links== {{wikiquote}} {{Commons category}} * [https://web.archive.org/web/20080706183447/http://business.timesonline.co.uk/tol/business/movers_and_shakers/executive_movers/article3785069.ece Business big shot: Jim Ratcliffe], 2008 biography from ''The Times'' * [https://www.ft.com/content/f0ad8f0c-4805-11db-a42e-0000779e2340 Jim Ratcliffe of INEOS: Uncanny ability to spot undervalued assets], 2006 biography from ''The Financial Times'' (pay-to-view) * Dearbail Jordan (13 May 2018), "[https://www.bbc.co.uk/news/business-44101223 Jim Ratcliffe: Turning cast-offs into gold]", BBC News
{{Mercedes in Formula One}} {{Authority control}} {{DEFAULTSORT:Ratcliffe, Jim}} Category:1952 births Category:Living people Category:Alumni of London Business School Category:Alumni of the University of Birmingham Category:Businesspeople awarded knighthoods Category:English billionaires Category:English chief executives Category:English expatriates in Monaco Category:English football chairmen and investors Category:Fellows of the Institution of Chemical Engineers Category:Ineos Category:Knights Bachelor Category:People educated at Beverley Grammar School Category:People from Failsworth Category:Mercedes-Benz in Formula One Category:English Eurosceptics Category:21st-century English philanthropists Category:Founders of charities