UK multibillionaire Jim Ratcliffe, who co-owns Manchester United, sparked controversy by stating that immigration was draining the country financially. Ratcliffe, 73, a prominent figure in the UK, praised Nigel Farage and expressed concerns about what he perceived as excessive immigration leading to colonization.
According to the Sunday Times Rich List, Ratcliffe’s wealth is estimated at £17 billion. In addition to his stake in the Premier League club, he owns lavish properties in London and Hampshire, along with a £78 million luxury yacht. Despite his substantial fortune, the founder of INEOS, a chemical company, has taken measures to safeguard his wealth, including relocating to minimize tax obligations.
Ratcliffe recently asserted that the UK cannot sustain its current levels of immigration and welfare support, citing concerns about the economic impact. His decision to change tax residency from Hampshire to Monaco in 2020, a tax haven with no income or wealth taxes, was estimated to potentially save him £4 billion annually.
Previously a major UK taxpayer, Ratcliffe’s tax contributions significantly decreased following his move to Monaco. This shift, coupled with his critical stance on immigration, has led to accusations of hypocrisy from various quarters, including Manchester United fans like Sage Coulter, who view his statements as contradictory given his tax arrangements.
Manchester United responded to the controversy by emphasizing their commitment to diversity and inclusion, highlighting the invaluable contributions of immigrant players to the team’s success. The club reiterated its dedication to promoting equality and diversity through initiatives like All Red All Equal, emphasizing Manchester as a city open to all.
