Sir Jim Ratcliffe net worth plummets by $5 billion after becoming Man Utd co-owner

Manchester United minority owner has , with a decrease of $5.04 billion.

The 71-year-old businessman, who secured a 27.7 percent stake in team United in a $1.2 billion deal at the start of 2024, made his fortune through founding petrochemicals giant INEOS back in 1998. Despite the decline, Ratcliffe's net worth still stands at an impressive $16.1 billion (£12.7 billion), according to .

However, he has slipped from being the world's 110th richest person at the start of the year to number 131. This is largely attributed to the performance of INEOS and other investments, including that of .

The Failsworth-born billionaire won't be too concerned about such a drop. He's the driving force behind the vision of a new Old Trafford, a stadium that could help United compete with the world's biggest clubs from both a financial and competitive standpoint.

Ratcliffe has been clear on his funding plans for the project, proposing taxpayer funds and dubbing the new stadium the "Wembley of the North". Should INEOS need to raise cash for the project in the future, there will be ample access to major capital at very competitive rates, which is good news for the club's long-term finances.

Ratcliffe's success with INEOS came after he bought the company from the Inspec Group, making a significant move in 2006 to purchase BP's refineries in Europe and Canada, which accelerated the company's growth, reports the .

Over the past decade, Ratcliffe, through INEOS, has sought to make a mark on sport, first through sponsorship deals with the INEOS Britannia sailing team and the INEOS Grenadiers professional cycling team, and then through majority ownership of French Ligue 1 side OGC Nice. All three are closely linked to Ratcliffe's personal sporting passions.