May 27, 2024
MyNewsGh

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Manchester United have confirmed British billionaire Sir Jim Ratcliffe as the club’s minority share holder following a 25% stake acquisition.

Sir Jim Ratcliffe was born in Failsworth, Greater Manchester, and is a boyhood United fan.

Throughout his career, Sir Jim has built a reputation as an uncompromising negotiator. He was once called Dr No by trade unions.

Here are some interesting facts about the British billionaire.

Business breakthrough

In 1989, Sir Jim joined Advent International in what would be a fortune-changing career move.At Advent Internations, learned the intricacies of the business world and how to pitch, how to negotiate and generally how to make deals in the business world.

Before long, he became a co-owner in what was his first major step into creating the modern conglomerate he is today.

He became allies with British businessman John Hollowood to purchase bought BP’s chemicals division in Hythe near Southampton for £40m in 1992. Two years after their joint acquisition of Inspec, the valued of the firm sky-rocketed to a whopping £100m when it listed on the London Stock Exchange.

The business went on to acquire BP’s speciality chemicals business in Antwerp, Belgium.

After the success of Insec, Sir Jim moved on to pastures anew, forming Ineos in 1998 which bought the Belgian business for £89m.

Ineos has since grown to become a chemical powerhouse, expanding through acquisitions or by investing in controversial areas such as fracking.

Chemistry and business domination

Like most businessmen, Sir Jim made his fortune from investing in businesses that produce goods and services that are used in every aspect of human life. From packaging for toiletries, medicines and food, to mobile phones, and furniture, the Ineos Group have left their mark by producing raw materials for almost every essential product in today’s world.

His breakthrough came from the taking over operations once owned by the likes of oil giant BP – where he worked after graduating from the Birmingham University with a degree in chemical engineering. Sir Jim created a company – Ineos – whose chemicals and raw materials go into nearly everything we touch every day.

Ineos operates in 29 countries on an estimated 194 sites. Their recent annual report says the company generates sales of around £50bn and employs more than 26,000 people.

Family

Ratcliffe has three children; two sons with his previous wife Amanda Townson and a daughter from a previous relationship, with Maria Alessia Maresca, an Italian tax lawyer.

Net worth

According to Forbes, Sir Ratcliffe is worth a staggering $18bn whereas the Sunday Times Rich List, which has him as the second wealthiest person in the UK, says it’s closer to £30bn.

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Ghananewshome

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