Early Life and Education
James Arthur Ratcliffe was born on October 18, 1952, in Failsworth, Lancashire, England. His father was a joiner, and his mother worked in an accounts office. Ratcliffe grew up in a council house and attended Beverley Grammar School. He studied chemical engineering at the University of Birmingham, graduating in 1974 with a 2:1 degree. He later earned an MBA from the London Business School in 1980.
Rise to Success
Ratcliffe's career began at Esso (later ExxonMobil), but he was reportedly dismissed after three days due to eczema. He then worked as a trainee accountant at Beecham Pharmaceuticals. In 1989, he joined the US private equity group Advent International. In 1998, Ratcliffe founded INEOS, acquiring a former BP Chemicals site in Antwerp, Belgium, and building the company through acquisitions. INEOS has grown into a global chemical giant through a series of strategic acquisitions.
Key Business Strategies
Ratcliffe is known for his aggressive acquisition strategy, purchasing underperforming businesses and turning them around. INEOS made over 80 acquisitions in its first 25 years, including Innovene, BP's refining and petrochemical subsidiary. The company has also focused on joint ventures and strategic partnerships, such as Petroineos with PetroChina. He has also been known to move INEOS's headquarters to reduce tax payments.
Philanthropy
Ratcliffe is involved in philanthropy through the Jim Ratcliffe Foundation, which helps underprivileged children learn to ski. He also founded the Go Run for Fun charity, which encourages children to participate in physical exercise.