The petrochemical tycoon behind INEOS and co-owner of Manchester United has unleashed a tirade on Britain’s immigration crisis, claiming the UK has been ‘colonised’ by newcomers draining the nation’s resources.
The 72-year-old billionaire, worth billions from his chemicals empire, didn’t mince words: “The UK has been colonised by immigrants, really, hasn’t it? I mean, the population of the UK was 58 million in 2020, now it’s 70 million. That’s 12 million people,” he told Sky.
He slammed the system, pointing out that you “can’t have an economy with nine million people on benefits and huge levels of immigrants coming in.”
Speaking from the European Industry Summit in Antwerp, Ratcliffe drew parallels to his revamp of Man Utd, where he made “very unpopular” decisions that paid off.
He added that Britain needs a leader with the guts to do the same, someone “prepared to be unpopular for a period of time to get the big issues sorted out.”
He took a swipe at PM Keir Starmer, calling him “a nice man” but questioning if he’s tough enough for the job. Ratcliffe further praised Reform UK’s Nigel Farage as “an intelligent man” with “good intentions” after a recent chat.
As chairman and majority owner of INEOS, Ratcliffe’s fortune has fluctuated with market conditions, but recent estimates as of early 2026 place his net worth around £15 billion to £20 billion, down from peaks like £29.7 billion in 2023 due to industry challenges.
Knighted in 2018 for services to business, he has diversified into sports, acquiring a 28% stake in Manchester United for £1.5 billion in 2024, and owns other ventures like a cycling team and Formula 1 sponsorships.
In 2020, Ratcliffe relocated his tax residence to Monaco, a move estimated to save him billions in taxes, while continuing to oversee INEOS’s global operations amid environmental scrutiny over its activities.
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