North West Rich List: Forbes names the 4 richest billionaires in the North West - how they built fortunes

• The North West has produced some of the UK’s wealthiest and most influential business figures
• These individuals have built vast fortunes in industries ranging from finance and chemicals to retail
• Their success stories showcase unique entrepreneurial paths, from humble beginnings to global recognition
• The region remains a thriving hub of innovation, with several billionaires continuing to shape the economic landscape

The North West of England has long been a powerhouse of industry, innovation, and entrepreneurial success.

From the textile mills of Manchester to the shipping ports of Liverpool, the region has produced some of the UK’s most influential business leaders.

Today, it remains home to some of the country’s wealthiest individuals, many of whom have built vast fortunes in industries ranging from finance to retail.

Forbes’ latest billionaire rankings have revealed the four richest individuals with strong ties to the North West, each with a unique path to immense wealth.

Hedge fund tycoon Michael Platt, chemicals magnate Sir James Ratcliffe, retail entrepreneur Tom Morris, and financial services giant Peter Hargreaves have all amassed multi-billion-pound fortunes through their business acumen.

Here, we take a closer look at their rise to riches - exploring their backgrounds, the industries that made them billionaires, and how they continue to shape the economic landscape.

4. Peter Hargreaves ($3.1bn)

In 1981, Peter Hargreaves and his friend Stephan Lansdown launched a financial-services firm from a spare bedroom in Bristol - though he was born in Clitheroe.

Before founding Hargreaves Lansdown, Hargreaves worked as a chartered accountant for companies like KPMG.

While he no longer serves on the company’s board, he still holds nearly a third of the business, which manages over $150 billion in assets. In 2017, Hargreaves went on to establish Blue Whale, a fund management firm catering to UK investors.

3. Tom Morris ($4.5bn)

In 1976, Tom Morris founded TJ Morris, the company behind the discount retailer Home Bargains. Growing up as one of seven children to a Liverpool shopkeeper, he is the third generation of his family to run a retail business.

Morris, known for keeping his personal life private, reportedly used a bank overdraft to launch the business at 21.

Home Bargains offers a wide range of products, from health and beauty items to candy and toys, often purchased at a discount from brands looking to clear stock.

Today, there are over 550 Home Bargains stores across the UK, with plans to expand to as many as 1,000 locations.

2. Sir Jim Ratcliffe ($15.8bn)

Jim Ratcliffe (born in Failsworth, Greater Manchester), a former chemical engineer, is the founder, chairman, and majority owner of Ineos Group, a chemical giant with a $68 billion revenue in 2022.

The London-based conglomerate manufactures everything from synthetic oils and plastics to solvents used in producing insulin and antibiotics.

It has become a major player in the UK shale sector, with its 600-foot "Dragon Ships" being the first to transport US shale gas into Europe.

In 1992, Ratcliffe mortgaged his house to lead the buyout of a BP chemicals business, later purchasing a plant from BP in 1998 to form Ineos.

In 2021, Ineos acquired two chemicals businesses from BP for $5 billion, and in 2022, it entered into petrochemical joint ventures with Sinopec valued at over $7 billion.

In 2023, Ineos acquired $1.4 billion in U.S. onshore oil and gas assets from Chesapeake Energy. In early 2024, Ratcliffe bought a 28% stake in Manchester United for $1.5 billion.

1. Michael Platt ($18.0bn)

Preston’s Michael Platt is the cofounder and CEO of BlueCrest Capital Management, which he launched in late 2000 after nearly a decade at JP Morgan.

Platt grew BlueCrest into one of the world’s largest hedge fund firms, managing over $35 billion in assets at its peak.

But a shift into equities and disappointing results led to investor departures, prompting him to return outside investors' capital in 2015 and transform BlueCrest into a family office.

Since then, the firm has thrived, posting impressive returns, including 153% in 2022 and 95% in 2020, with no year seeing a loss greater than 20%.

What do you think about the success stories of these North West billionaires? Do any of their journeys inspire you or resonate with your own entrepreneurial ambitions? Share your opinions in the comments section.