Who is Jim Ratcliffe, the individual purchasing a stake in Man Utd?

Sir Jim Ratcliffe, one of the UK's wealthiest individuals, has made a name for himself by acquiring undervalued assets. His latest move is a £1.25 billion deal to purchase a 25% stake in Manchester United FC, one of the country's most beloved brands. While the team's performance has been lackluster recently, the club remains highly profitable with a global fan base. Sir Jim expressed interest in buying a stake in the club earlier this year, following rumors of a potential sale by the Glazer family, who have faced criticism for their perceived lack of investment in the team since Sir Alex Ferguson's retirement in 2013. However, a rival bid from Qatari banker Sheikh Jassim bin Hamad Al Thani was withdrawn, giving Sir Jim a clear path to the acquisition. Born in Greater Manchester, Sir Jim has been a lifelong fan of Manchester United. He has amassed a massive fortune through his company Ineos, which acquires and turns around neglected parts of other businesses. Estimates of his wealth vary, with Forbes placing it at around $18 billion and the Sunday Times Rich List claiming it to be closer to £30 billion. Ineos, with operations in 29 countries, generates sales of around £50 billion and employs over 26,000 people, producing raw materials used in various industries. Starting his career in chemical engineering, Sir Jim gained experience at oil companies BP and Esso before entering private equity with Advent International. In 1992, he and fellow businessman John Hollowood purchased BP's chemicals division, which they later floated on the London Stock Exchange. Sir Jim then established Ineos in 1998, leading it to become a major player in the chemical industry through acquisitions and investments. Known for his tough negotiation tactics, Sir Jim has faced industrial disputes and controversy throughout his career. In 2013, he confronted unions at the Grangemouth petrochemical plant and refinery in Scotland, resulting in job losses and a subsequent reversal. Ineos also drew criticism for importing shale gas from the US in 2016 amid opposition from environmental groups. Additionally, Sir Jim reportedly relocated to Monaco in 2020, where he would not be subject to UK taxes. While primarily known for his involvement in chemicals, Sir Jim has diversified his business interests in recent years. Ineos ventured into vehicle manufacturing, acquiring Belstaff, a luxury motorcycle wear maker, and partnering with the Mercedes F1 team. In 2019, Ineos also took over the former Team Sky, now named Ineos Grenadiers, a prominent professional cycling team. Sir Jim already owns French side Nice and Swiss club Lausanne-Sport, and in 2020, he made an unsuccessful bid to purchase Chelsea. He stated that his only reason for not bidding on Manchester United was their unavailability at the time. However, with the recent deal, Sir Jim will gain control of United's football operations while retaining a minority stake. He will also provide $300 million for future investments in Old Trafford.