Chemicals boss Ratcliffe tops Sunday Times Rich List

LONDON (Reuters) – Jim Ratcliffe, the founder and boss of chemical big Ineos, is the richest man within the United Kingdom, in accordance with the Sunday Times Rich List, first amongst a document 145 billionaires dwelling within the nation.

Jim Ratcliffe, CEO of British petrochemicals company INEOS, poses for a portrait with the Canary Wharf monetary district seen behind, in London, Britain, April 26, 2018. REUTERS/Toby Melville

Ratcliffe maintains a comparatively low profile in Britain because the chief government of the nation’s largest non-public company which generates gross sales of round $60 billion (£44.four billion) by manufacturing petrochemicals, speciality chemical compounds and oil merchandise.

The Sunday Times mentioned Ratcliffe had shot up the record of Britain’s most rich because of the success of Ineos and after it obtained entry to extra element on the company which is 60 % owned by its founder.

Compiling the record for the 30th time, the Sunday Times mentioned the wealth of the 1,000 richest folks had jumped by 10 % this yr, and mentioned that they have been extra numerous than earlier than, with extra ladies and entrepreneurs within the record.

“Britain is changing,” mentioned Robert Watts, the compiler of the record. “Gone are the times when previous cash and a small band of industries dominated the Sunday Times Rich List.

“Aristocrats and inherited wealth has been elbowed out of the record and changed by a military of self-made entrepreneurs.”

The paper mentioned that London was now the primary metropolis within the world for billionaires, with some 93 billionaires born, dwelling or with their companies primarily based in London, forward of New York in second.

Reporting by Kate Holton; Editing by Angus MacSwan

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