Ratcliffe, the founder of the petrochemical company INEOS, which bought a 25 percent stake in the club for £ 1.25 billion, will also have a say in the control of football operations.
Ratcliffe, 71, will also provide £236 million for investment at Old Trafford Stadium.
The US Glazer family bought the club in 2005 for £790 million.
Who is Jim Ratcliffe?
Sir James Arthur Ratcliffe FIChemE, born October 18, 1952, is a British billionaire, chemical engineer and businessman. Mr. Ratcliffe is chairman and chief executive officer (CEO) of INEOS chemicals group, which he founded in 1998. The company is estimated to have a turnover of 65 billion dollars in 2021.
He does not have a high public profile and was once described by The Sunday Times as "publicity shy". In May 2018, Ratcliffe was the richest person in the UK with a net worth of £21.05 billion. As of May 2023, his net worth is estimated at £29.688 billion on the Sunday Times Rich List 2023, making him the second richest person in the UK. In September 2020, Ratcliffe officially changed his tax residency from Hampshire to Monaco, a move estimated to save him £4 billion in taxes.
