90min

Man Utd takeover: Sir Jim Ratcliffe becomes second-richest person in UK

By Yara El-Shaboury

In January 2023, Sir Jim Ratcliffe's firm INEOS entered into negotiations for the purchase of Manchester United.
In January 2023, Sir Jim Ratcliffe's firm INEOS entered into negotiations for the purchase of Manchester United. / BERTRAND GUAY/GettyImages
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Sir Jim Ratcliffe has soared up the Sunday Times Rich List to become the second-richest individual in the United Kingdom.

Ratcliffe, CEO of INEOS chemicals company, is vying for a controlling stake in Manchester United and is battling it out with Qatari businessman Sheikh Jassim, who recently made an improved fourth offer to acquire 100% ownership of the club.

Sheikh Jassim and Ratcliffe have been in the news plenty since they first made their intentions known of buying Man Utd.

And Ratcliffe has now risen from the 27th position on last year's Sunday Times Rich List with an estimated wealth of £6.075bn to claim the second spot on the 2023 list. His wealth is now believed to be a staggering £29.688bn, representing a nearly 400% surge in just 12 months.

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Robert Watts, the compiler of the list, emphasised the significant role of new information regarding INEOS' profits in accurately assessing Ratcliffe's wealth.

"This year, we have new information about the full scale of INEOS' profits, and that has made us confident that INEOS is now worth at least £40bn," he said.

Ratcliffe previously topped the Rich List in 2018 when his personal fortune was estimated at £21.05bn. Notably, INEOS already possesses French club Nice and Swiss side Lausanne.

Meanwhile, the Reuben family, including Jamie Reuben who acquired a minority stake during PIF's takeover of Newcastle in 2021, slipped from third to fourth place on the list.

Roman Abramovich, the former owner of Chelsea, did not make the list this year - despite occupying the 28th spot in the 2022 edition - due to his lack of British citizenship following Russia's invasion of Ukraine.

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