Man Utd co-owner Sir Jim Ratcliffe’s fortune plummets by more than £6BILLION as he tumbles down Sunday Times Rich List
MANCHESTER UNITED co-owner Sir Jim Ratcliffe has tumbled down the Sunday Times Rich List following a drop in his net worth.
The 72-year-old has suffered a £6.5BILLION decline over the last year, making him one of the biggest fallers on the list.
As a result, his net worth now stands at £17bn.
Last year, Ratcliffe had a net worth of £23.5bn and was placed fourth on the Sunday Times Rich List.
And in 2023, he placed second having been worth just shy of £30bn.
However, he is now seventh in the rankings amid another difficult season with United in the Premier League.
The Red Devils currently sit 16th in the table with just two games left to play.
Ruben Amorim and Co still have the opportunity to qualify for the Champions League.
Should they beat Prem rivals Tottenham in the Europa League final next week, they will earn a place in Europe’s elite competition.
But if they fail to do that, United will miss out on around £100million worth of revenue.
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Ratcliffe and his team of Ineos executives have already made hundreds of redundancies at Man Utd since taking over at the start of last year.
Many staff members are now concerned about their job safety should the Red Devils fail to win the Europa League due to the loss of revenue.
On top of that, the club’s new 100,000-seater stadium is expected to cost more than £2bn which could see Ratcliffe’s net worth decline further.
The new stadium is currently expected to open prior to the 2030-31 campaign.
Ratcliffe previously claimed that United would have run out of money by the end of this year had he not made a number of controversial cost cuts.
Above the British billionaire in this year’s Sunday Times Rich List are Guy, George, Alannah and Galen Weston and family, who previously owned several department stores in the Selfridges Group and now own Fortnum & Mason.
Below him is Lakshmi Mittal and family, owners of the world’s second largest steelmaking company.
Ratcliffe is the chairman and CEO of the INEOS chemicals group, which he founded in 1998.
He made his fortune through INEOS but has since invested a large sum of his money into different sports.
The billionaire purchased the Team Sky cycling franchise in 2019 and rebranded it to Team INEOS.
One year later he and INEOS became principal partners of Formula One giant Mercedes.