Bloomberg Billionaires Index

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# 47 Jim Ratcliffe $20.8B

Random fact: Visited North and South Poles with sons.

Overview

Ratcliffe is the founder and majority owner of Ineos, a closely held chemicals manufacturer. The London-based company has about 21,000 employees, operates in 26 countries and reported revenue of about $60 billion in 2018. It produces about 60 million tons of chemicals every year, including polymers and resins.

As of :
Last change -$42.3M ( -0.2%)
YTD change +$8.27B ( +66.0%)
Industry Industrial
Biggest asset Ineos
Citizenship United Kingdom
Age 67
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Jim Ratcliffe's net worth of $20.8B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

Ratcliffe is calculated to own 54% of closely held Ineos, based on a Bloomberg analysis of a 2014 U.K. government filing and the 2018 annual report of subsidiary Ineos Group Holdings. The London-based company is valued based on a calculation of the group's average Ebitda and the average enterprise value-to-Ebitda multiple of three publicly traded peer companies: BASF, LyondellBasell Industries and Saudi Basic Industries.

The Ebitda figure used in this analysis has been calculated by Bloomberg from the five-year average Ebitda of subsidiary Ineos Group Holdings between 2014 and 2018. This average is 2% lower than the subsidiary's 2018 unadjusted Ebitda figure. The same discount has been applied to the group's calculated Ebitda figure for 2018 to approximate the group's five-year average Ebitda figure. The calculation was updated to reflect the company's 2018 results on March 5, 2019, which resulted in a $4 billion gain in Ratcliffe's net worth on that date.

The company reports production output of 60 million tonnes and revenue of about $60 billion in 2018, and has 21,000 employees working in 26 countries, according to its website.

Ratcliffe also owns two superyachts, Hampshire and Hampshire II, which are valued using the current asking prices for similar length vessels from the same ship yard, according to a person familiar with the boats who asked not to be identified as he works in the industry and the information is private.

Richard Longden, a spokesperson for Ineos, declined to comment on Ratcliffe's net worth.

Biography

Birthdate: 10/18/1952
Family: Unknown, No children
Education: London Business School

James Arthur Ratcliffe was born on Oct. 18, 1952 in Manchester, England, according to filings with the U.K.'s Companies House. After studying chemical engineering at Birmingham University he worked for oil company Esso and completed his MBA at London Business School.

He joined private equity firm Advent International in 1989 and three years later invested his life's savings to buy BP's specialty chemicals unit, according to a 2007 profile in the Telegraph. He became chief executive officer and a slew of acquisitions followed with the company, Inspec, listing on the London Stock Exchange in 1994. He left Inspec four years after that to lead the buyout of its Belgian chemicals plant, which he named Ineos.

More acquisitions followed and within a decade Ineos had become one of the largest chemical companies in the world. Ratcliffe attracted criticism in 2013 when a stand-off with the union at Ineos' Grangemouth plant attracted national attention. The billionaire extracted a three-year pay freeze from his workers in exchange for keeping the plant open. Ratcliffe moved back to the U.K. in 2016, 6 years after relocating to Switzerland for tax reasons.

He moved to Monaco in 2018, two years after backing Britain's exit from the European Union.

Milestones
  • 1952 James Arthur Ratcliffe is born in Manchester, England.
  • 1974 Joins Esso after studying chemical engineering at university.
  • 1989 Takes job at Advent, a private equity firm.
  • 1992 Leads buyout of Inspec Group.
  • 1998 Acquires Ineos from Inspec.
  • 2006 Buys BP's refineries in Europe and Canada.
  • 2013 Stand-off with union at Scottish refinery attracts national attention.
  • 2016 Ineos vessel transports first shale shipment from U.S. to Europe.