Ineos head latest ‘Rich List’

A CHEMICAL company chief executive with roots in Failsworth is now, according to the Sunday Times Rich List, the richest man in Britain.

Jim Ratcliffe is the chief executive of Ineos and has topped the latest Sunday Times Rich List, with reported wealth of £21 billion. Mr Ratcliffe leapfrogged his way to the summit from 18th place last year. The 65-year-old
lived in Failsworth as a boy before moving with his family to East Yorkshire. He later studied chemical engineering at Birmingham University, and gained an MBA from London Business School, according to the media.

His father, who was a joiner, went on to run a factory that made laboratory furniture while his mother worked in an accounts office. Previously described as publicity-shy by the Sunday Times, Mr Ratcliffe’s wealth leapt by £15bn in the past year, making him the first UK-born person to top the rich list since the Duke of Westminster in 2003.

He founded the Ineos chemicals group in 1998. He still owns 60-per-cent of the chemical giant, which made £2.2bn profit last year, and had an annual turnover of £45bn.

Ineos employs more than 18,500 people at 181 sites across 22 countries. Its products are used to clean water,
manufacture toothpaste and antibiotics, insulate homes and package food, among many other things.

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