Sir Jim Ratcliffe's net worth drops by £1.5bn after Manchester United takeover

Manchester United co-owner Sir Jim Ratcliffe's net worth has dropped by approximately £1.52bn according to Bloomberg's latest billionaire index.

The INEOS founder announced on Christmas Eve, in conjunction with the club, that he would be acquiring a minority stake in the Reds. United then had to play the waiting game as the boyhood supporter waited for his deal to be ratified by the Premier League and the FA.

Ratcliffe did not kick his heels during this time though. He was a pivotal part of the appointment of Manchester City's CEO Omar Berrada and he attended his first United game since the announcement in mid-January as Erik ten Hag's side were held to a 2-2 draw by Tottenham Hotspur.

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In February, the 71-year-old received the green light he was waiting on and became a minority owner of United officially. He has since added Sir Dave Brailsford and Jean-Claude Blanc as directors at Old Trafford.

However, the news of his fortune dropping to $17.6bn (£13.8bn) will be of slight disappointment to Ratcliffe as he drops to the world's 110th richest person. The reason for his drop in net worth on Tuesday should not worry United fans too much.

While £1.52bn, as per Bloomberg, is a lot of money, billionaires' net worths can fluctuate dramatically daily as their fortunes are usually invested in stocks and shares. Therefore, as the stock market rises and falls daily, so do their fortunes.

Following his arrival at Old Trafford, Ratcliffe has insisted he wants to reinstate the Reds as a force both domestically and internationally. MEN Sport understands Ratcliffe is not completely sold on Ten Hag as