Sir Jim Ratcliffe, who’s reported to be in the driving seat for the takeover of Manchester United has become the country’s second richest person.
According to The Sunday Times Rich List, the Ineos owner is worth £29.688bn, with his wealth increasing by £23.613bn over the last 12 months. That’s the equivalent of earning £750 every second over the last year.
The 70-year-old, who was born in Manchester, mortgaged his house 30 years ago for £140k in order to do his first big deal. He’s now believed to be the biggest private energy operator in the North Sea.
As energy prices soared and the Ukraine war started, his Ineos chemical company saw its profit grow “exponentially. “
Ratcliffe is currently in a £5bn+ race to buy Manchester United against Sheikh Jassim bin Hamad al-Thani.
While Ratcliffe’s wealth may have soared, The Sunday Times research revealed that across the UK, there are now 171 billionaires, down 6 from 2022, the first fall for 14 years.
The combined wealth of the UK billionaires is £683.856 billion, up £30.734 billion, or 4.5 per cent.
“This year’s Sunday Times Rich List shows a golden period for the super rich is over. For the first time in 14 years we’ve seen the number of UK billionaires fall,” said Robert Watts, compiler of the Sunday Times Rich List.
“Two years ago we raised concerns about an unsettling boom in the fortunes of the very wealthy that continued unchecked during the political instability around Brexit and the pandemic. This is not a crash – but there are household names who have lost vast sums over the past year. The bursting of the tech bubble, the end of rock bottom interests and the jitters creeping through the banking industry have all taken their toll.
“The super rich don’t exist in a vacuum. Many small investors lost money in some of their overblown stock market floats. Many people also work for their businesses. Financial losses for billionaires can have implications for us all.”
The Sunday Times has also listed the Wealthiest 35 Under 35 in the UK, which is headed up by the Duke of Westminster and the Grosvenor Family (£9.878bn).
Harry Styles is 13th (£150m) and Raheem Sterling through sports and his property investments is worth £61m
