Sir Jim Ratcliffe likes to maintain busy. As a reward for working seven days per week at his €40 billion ($52 billion) petrochemical empire Ineos, the British billionaire indulges in a series of side projects – from owning a London pub and a football club to a property boom within the remotest parts of Iceland.
The 71-year-old is considered one of the richest people in Britain. According to the newest data, his net price is estimated at £23.5 billion. Sunday Times Richest People List.
What do you do with all that wealth? For Ratcliffe, the reply appears to be to live out every considered one of his childhood fantasies.
Ratcliffe’s hobbies
The petrochemical billionaire has a unusual, eclectic mixture of ventures that mixes his passions for sports, cars, fishing and drinking.
Ratcliffe was an everyday on the Grenadier Pub, positioned on a side street in London’s affluent Knightsbridge district.
While having a pint on this pub, Ratcliffe decided to revive the Land Rover Discovery and named the upcoming model “Grenadier” after his beloved local pub.
He bought the pub in 2022.
Kiran Ridley – Getty Images
His most famous side hobby, nevertheless, was buying a minority stake in Manchester United last 12 months, which might see him and his team take over the club’s football operations.
Given his previous sporting ventures, including ownership of the highly successful Ineos Grenadier cycling team and Nice football club, in addition to his declared lifelong support of the club, Ratcliffe was seen as the perfect man to assist turn Manchester United around.
Ratcliffe has already revamped Manchester United’s football team, installing a brand new CEO, Omar Barrada, and poaching latest sporting director Dan Ashworth from rival Newcastle United.
He has also quietly purchased 400,000 acres of land in Iceland, where he enjoys fishing.
In response to the query from The times When asked if anyone within the country owned more land than he did, Ratcliffe replied: “Perhaps the church?”
“All the intensity of everyday life, where everything is covered in concrete or asphalt and you’re umbilically connected to your iPhone, disappears very quickly in this environment,” Ratcliffe told the publication. “I hope this will have a positive effect on my longevity.”
Legacy Buildings
Looking at Ratcliffe’s investments and his comments, it is easy to conclude that his purchases are merely expensive gimmicks by a billionaire designed to assist him escape the extreme demands of running a big global corporation.
That’s obviously a part of it, says Liz Colfer, associate director and chartered financial planner at wealth management firm Five Wealth.
“When you run the company as long as he has, you’ve checked that box to a certain extent. And then you think about what other things you can get involved in and what else you can do,” Colfer said Assets.
“When you have that mindset, to a certain extent you’re never satisfied. There’s always something else. You’re always thinking about another idea.”
Ratcliffe often used personal anecdotes to justify his purchases, rarely mentioning the potential for financial gain.
Before buying a hefty stake in Man United, Ratcliffe spoke about how much he supported the club while growing up within the Manchester town of Failsworth, which is around seven miles from Old Trafford stadium.
However, behind this success of childhood dreams there may be probably more of a tactical motivation.
Still spry at 71, having accomplished the London Marathon in May in only over 4 hours and half-hour, Ratcliffe is paying tribute to his legacy along with his stunning purchases.
Despite his enormous net price, Ratcliffe was a marginal figure outside the business world for much of his time on the helm of Ineos.
But it was only after he bought a minority stake in Manchester United that he became the talk of the town and, except for a number of opposing fans, he had good reasons for this.
Michael Regan – The FA/Getty Images
Taking over a club that was already in a state of disrepair before he bought it, and whose fan base is growing increasingly indignant with the club’s majority owners, the Glazer family, gives Ratcliffe the possibility to be seen because the club’s saviour.
Ratcliffe’s Ineos shadow
After constructing his fortune at a petrochemical giant whose facilities faced with legal motion Environmental groups say Ratcliffe’s legacy is much from secure because the earth turns away from environmentally damaging fossil fuels within the face of increasingly apparent impacts of climate change.
Its latest 4×4 Grenadier is powered by hydrogen and is a chief example of Ineos’ renewable energy division, but nearly all of its revenue still comes from the petrochemicals business.
In July, Ineos withdrew plans for an electrical SUV called the Fusilier, citing weak demand and the British government’s “industry uncertainty over tariffs, timelines and taxation.”
Hollie Adams/Bloomberg via Getty Images
His land purchase in Iceland could also pave the way in which for more environmentally friendly initiatives, says Jessica Crane, a wealth and business advisor.
“Investing in such a beautiful location not only offers potential for value creation, but also opens doors for ecotourism and renewable energy projects.”
However, it remains to be unclear how history will judge Ratcliffe’s attempts at later reorientation.
“The origin of wealth – and society’s reactions to it – often influences how the wealth owner deals with it, and embracing that narrative is key to staying on the right track and in control of their reputation and legacy,” Matthew Braithwaite, a partner at London law firm Wedlake Bell, told Assets“Ratcliffe’s purchase of the land in Iceland appears to be a nod to this commitment and helps counteract the environmental impact of INEOS and the source of its wealth.”
Whether his efforts will likely be enough will likely be “interesting,” says Colfer of Five Wealth.
Ratcliffe has reportedly set his sights on a brand new 100,000-seat stadium to interchange Manchester United’s legendary Old Trafford, a structure that may remain standing long after he leaves.
If he might help Manchester United win their first Premier League title since 2013 or their first Champions League title since 2008, his name will likely adorn the halls of the brand new stadium for generations to return.
A representative for Ineos didn’t reply to a request for comment.
