Bloomberg Billionaires Index

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#143 Jim Ratcliffe $10.1B

Random fact: Keen runner, cyclist and skier.

Overview

Ratcliffe is founder and majority owner of Ineos, the closely held chemicals manufacturer that reported sales of around $40 billion in 2016. The Rolle, Switzerland-based company has 17,000 employees and operates in 16 countries. It produces about 60 million tons of chemicals every year, including polymers and resins.

As of Oct. 17, 2017:
Last change -$22.3M (-0.2%)
YTD change +$3.85B (+62.1%)
Industry Industrial
Biggest asset Ineos
Citizenship United Kingdom
Age 64
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Jim Ratcliffe's net worth of $10.1B can buy ...

0
troy ounces of gold
0
barrels of crude oil

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of the GDP of the United States
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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
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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 owns 57 percent of closely held Ineos, according to a 2012 bond prospectus distributed to investors. Since July 19, 2017 the Rolle, Switzerland-based company has been valued using the calculated five year average of Ebitda and the average enterprise value-to-Ebitda multiple of four publicly traded peers: BASF, LyondellBasell Industries, Saudi Basic Industries and Zaklady Azotowe Pulawy.

Before then, the calculation used the reported Ebitda figure of Ineos Group Holdings SA. Ineos reported Ebitda for the whole group for the first time in 2017, which reflected results for the 2016 fiscal year. The change in methodology resulted in a $4 billion gain in Ratcliffe's net worth on July 19, 2017. Zaklady replaced Solvay as a peer on Aug. 7, 2017 to reduce valuation volatility. 

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. A liability is included to account for the cost of purchasing the yachts.

Ineos spokesman Richard Longden declined to comment on Ratcliffe's net worth.

Biography

Birthdate: 10/18/1952
Family: Unknown, No children
Education: MBA, 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 speciality 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 has largely kept a low-profile though he 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.

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.