UK’s richest man is planning to move overseas

Sir Jim Ratcliffe

Manchester born billionaire Sir Jim Ratcliffe is reportedly leaving the UK to live in Monaco.

According to a report in The Telegraph Sir Jim Ratcliffe, who is the UK’s richest man, has decided to move to the tax haven.

The businessman, who was knighted in the summer, was brought up in a council house in Failsworth on the border between Oldham and Manchester.

The 65-year-old who is the son of a carpenter is worth an estimated £21bn and he came top of The Sunday Times Rich List.

The petrochemical engineer is also a strong advocate of leaving Europe and has spoken publicly on the issue.

According to reports two other senior executives at Ineos, Andy Currie and John Reece, have also decided to move with him.

Meanwhile, Sir Jim’s company will remain “headquartered” in London.

Sir Jim, who owns a majority stake in Ineos, recently failed in a legal bid to overturn Scotland’s ban on shale gas fracking.

In 2016 it was announced that Ineos was returning to the UK from Switzerland.

A statement from the firm said: “Ineos is committed to its business base in London and plans to remain headquartered in London for the foreseeable future.”

Sir Jim lived in Failsworth until he was ten when his family moved to East Yorkshire.

He was educated at Beverley Grammar School and studied chemical engineering at Birmingham University.

His father, who was a joiner, went on to run a factory that made furniture, while his mother worked in an accounts office.

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