Sir Jim Ratcliffe’s net worth plunges after mega Man Utd cost-cutting | Football | Sport

Sir Jim Ratcliffe’s wealth has dropped by £1.85billion over the last year, according to the latest Sunday Times Rich List. Even so, the Manchester United co-owner stays comfortably the richest person in the North West for yet another year, with an estimated fortune of £15.194bn, down from £17.04bn in 2025.

The 73-year-old entrepreneur, who acquired a 27.7 per cent stake in United in a £1.25bn deal in 2024 after agreeing terms with majority owners the Glazer family, amassed his fortune through founding petrochemicals group INEOS in 1998. As a leading figure in the chemicals sector and CEO of INEOS, Ratcliffe oversees a worldwide petrochemicals business operating across 27 countries. However, rising debt, softer revenues and a £515.7million loss have led to the group’s valuation being cut to £17bn.

His 29 per cent stake in Manchester United is now valued at £1.4bn. This comes after remarks last week in which the 73-year-old warned the UK and Europe about the direction of their energy policies, made during an announcement linked to fresh investment in the United States.

INEOS has confirmed it completed a deal taking a 21 per cent stake in three oil and gas fields off the eastern coast of America. The move adds to more than €3bn (£2.61bn) already invested in US operations.

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Last year’s Rich List indicated Sir Jim’s wealth had dropped by £6.5bn, but he still remained the richest individual in the North West and the seventh wealthiest person in the UK in 2025.

The Sunday Times has released its annual Rich List. This year’s ranking of 350 individuals and families together controls £783.5bn in wealth, roughly one quarter of the UK’s annual GDP.

Sir Elton John, Lord Lloyd-Webber, Sir Mick Jagger, Keith Richards, JK Rowling, Charlotte Tilbury and Sir Lewis Hamilton all appear in the annual list, along with the Gallagher brothers for the first time, valued at £375m. The entry level for this year’s list dropped to £340m, which The Sunday Times describes as “another indicator of a subdued year.”

Robert Watts, compiler of the Sunday Times Rich List, said: “This year’s Rich List is a tale of two exoduses. One in six of the individuals and families who appeared on the list two years ago don’t feature this time.

“Many foreign billionaires who have been living in the UK have also dropped out because they have moved away. We have also seen a sharp rise in the number of British nationals now resident in Dubai, Switzerland and Monaco. As UK nationals these people remain on our Rich List – wherever they now live.

“These two exoduses pose challenges for the UK economy and its public finances. Will more of the wealthy now set up or grow their ventures overseas and in doing so create fewer jobs here? How much tax – if any – will Rachel Reeves‘ Treasury be able to extract from those affluent Brits who have now left the country?

“For nearly 40 years the Sunday Times Rich List has analysed the fortunes of Britain’s most affluent people. We believe understanding where wealth lies and where it is being accumulated is a vital part of a functioning democracy.

“Over the years our research has told us a lot about our country, charting the way a generation of largely self-made entrepreneurs overtook the old money of the landed gentry.

“This year’s edition shines a light on fortunes made from artificial intelligence, driverless cars and crypto-currencies as well as baby milk, make-up, hoodies and other everyday items. We know many of our readers find those rags-to-riches stories of entrepreneurs who started out with little more than a laptop and an idea particularly inspiring.”