CHEMICAL engineer Jim Ratcliffe topped the Sunday Times Rich List 2018 with a personal fortune estimated at £21.05billion.
Here's what we know about the UK's richest man, who could be set to purchase Chelsea.
Who is Jim Ratcliffe and what is his net worth?
Jim Ratcliffe is a fracking and chemicals entrepreneur who has topped chart of the UK's wealthiest 1,000 people in The Sunday Times Rich List 2018.
The Brexit-backing businessman is the chairman and CEO of chemicals group Ineos.
He increased his wealth by more than £15billion in 2017 to take the top spot on the Sunday times Rich List.
But the 66-year-old came from humble beginnings.
Brought up in a council house near Manchester by his joiner dad and office manager mum, he went on to study for an MBA from London Business School.
He is the first British-born industrialist to top the list, according to a Sunday Times profile.
Ratcliffe is also the first UK-born person to top the rich list since the Duke of Westminster in 2003.
Sir Jim recently said that he looks forward to Britain throwing off the shackles of Brussels when we finally quit the EU.
He said: "The Brits are perfectly capable of managing and don't need Brussels telling them how to manage things."
When did he start Ineos?
Ratcliffe is the chairman and chief executive of the Ineos chemicals group, which he founded in 1998.
From a small base in Hampshire, using high-yield debt to fund deals, he started buying unwanted operations from groups such as BP, picking 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.
Then, in April 2010, Ratcliffe relocated Ineos' head office to Rolle in Switzerland, cutting the company's tax bill by £100million per year.
Millions of Brits unwittingly use Ineos products every day.
They are used to clean water, make toothpaste, manufacture antibiotics, insulate homes and package food.
The chemicals giant has an annual turnover of about £45bn and employs more than 18,500 people at 181 sites across 22 countries.
Runner Eliud Kipchoge, 34, smashed his target by 20 seconds to complete the race in 1:59:40 in the Ineos 1:59 Challenge in Vienna today.
The event was bankrolled by petrochemicals company Ineos, owned by Sir Jim Ratcliffe.
When was Jim Ratcliffe knighted and will he buy Chelsea Football Club?
Ratcliffe was knighted in the Queen's Birthday Honours list on June 2, 2018.
He received the honour for services to business and investment.
The billionaire has approached Roman Abramovich to buy Chelsea Football Club.
But his advances are understood to have been rejected by the Russian oligarch.
However, in July fresh reports emerged linking him with a takeover of the club.
The Secret Footballer Twitter account claimed that Sir Jim is closing in on purchasing the Blues.
Sources close to Chelsea though were quick to rule out any sale.
But in March 2019, The Times said Ratcliffe is keen to purchase Chelsea, if owner Roman Abramovich drops his £2.5bn asking price.
Abramovich has reportedly become detached from the club since he was denied a visa renewal in 2018 and forced to use an Israeli passport to visit the UK six months at a time.
As a result, plans to rebuild Stamford Bridge have been put on hold and the need for a new stadium is one reason why Sir Jim will not pay £2.5bn for the club.
What other sports teams does Jim Ratcliffe own?
Sir Jim Ratcliffe purchased Swiss top flight football team FC Lausanne-Sport in 2017.
And the keen cyclist is now set to imminently complete a deal to buy Team Sky and provide it with the funding to continue after 2019.
Does he have children?
Jim Ratcliffe divorced wife Amanda Townson in 1995 after a ten-year marriage. They had two sons.
Sir Jim also has one daughter with his second wife, Alicia.
He lives in Chelsea and Hampshire and, in May 2017, submitted his fifth plan to build a luxury home at Thorns Beach, near Beaulieu – to replace an existing two-bedroom bungalow.
He also owns a property in tax haven Monaco.
In August 2018 it was revealed he and two other Ineos executives are planning to move to Monaco, although the company's HQ will remain in the UK.
Ratcliffe is reported to have completed the 2007 London Marathon and is a keen skier.
He has owned two superyachts, and in 2012 he took delivery of the 78-metre Hampshire II, which he still owns.
A keen adventurer, Ratcliffe has made expeditions to the North and South Poles as well as a three-month-long motorbike trek in South Africa.
Source: Read Full Article