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UK’s richest is worth $23bn

A British businessman who once lived in a council house near Manchester is the richest person in the UK, according to the 2018 Sunday Times Rich List.

Jim Ratcliffe, who founded chemical firm Ineos, topped the list with an estimated worth of KY$23.75bn - after coming 18th last year.

Two of the company’s directors are also on the list, which ranks Britain’s wealthiest 1,000 people or families.

Mr Ratcliffe, 65, attended a state grammar school, before studying chemical engineering at Birmingham University, and receiving an MBA from London Business School, according to a Financial Times profile.

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

His wealth leapt by $18bn in the past year - partly because of a revaluation of his assets. He is the first UK-born person to top the rich list since the Duke of Westminster in 2003.

In 2015, he said the UK could thrive outside the European Union.

“The Brits are perfectly capable of managing the Brits and don’t need Brussels telling them how to manage things,” he said.

At second place in the list were the Hinduja brothers, Sri and Gopi, worth $22bn. Their fortune jumped by $5bn billion from 2017.

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