Ratcliffe is competing against Qatar's Sheikh Jassim bin Hamad Al Thani, who submitted a revised bid for the club on Saturday, and Finnish entrepreneur Thomas Zilliacus, per BBC Sport.
The initial bids were thought to be about $4.2 billion, per Sky Sports News. The Glazer family, which bought Manchester for almost £800 million in 2005, are thought to be seeking between £5 billion and £6 billion ($6.1 billion to $7.3 billion).
After graduating in 1974, he worked as an engineer for the oil company Esso, owned by ExxonMobil, and for BP before joining the fabric and chemicals producer Courtaulds.
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He joined forces with former chemicals executive John Hollowood and bought BP's chemicals division in 1992. Two years later it listed on the London Stock Exchange and was worth £100 million (about $150 million then).
Ratcliffe was knighted in 2018, making him Sir Jim, but reportedly moved to Monaco in 2020, which does not levy personal or capital gains tax. He declined to confirm the move but told the BBC he tried to "give back to the UK" and had invested billions in the country.
He went ahead with the idea and the Ineos Grenadier starts at £55,000 ($67,000). "It's a combination of British knowhow and German engineering," he told The Times of London.
In 2020, Ineos signed a partnership with Formula One, sponsoring Mercedes-AMG Petronas. "They have consistently shown that they are at the forefront of technological innovation and human performance," Ratcliffe said at the time.
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