Rank #693
John Reece
Net worth $6.0B
Chemicals · United Kingdom
- Born
- Mar 07, 1957
- Age
- 69
- Source
- Chemicals
- Residence
- London
- Citizenship
- United Kingdom
- Marital status
- Children
- 0
- Education
- Bachelor of Arts/Science, Cambridge University
Net worth over time
Biography
- John Reece joined chemicals conglomerate Ineos in 2000 as financial director, less than two years after its founding.
- Reece, a chartered accountant, was a partner at PricewaterhouseCoopers, where he specialized in working with chemicals firms, Reece still sits on Ineos' board.
- The London-based conglomerate produces everything from synthetic oils and plastics to solvents used to make insulin and antibiotics.
- It's become one of the U.K. shale sector's largest players. Its 600-foot "Dragon Ships" were the first to transport U.S. shale gas into Europe.
- Ineos acquired two chemicals businesses from BP in 2021 for $5 billion. It formed petrochemical JVs with Sinopec worth more than $7 billion in 2022.
- In 2023, Ineos acquired $1.4 billion of U.S. onshore oil and gas assets from Chesapeake Energy. Reece derives his fortune from his minority stake in Ineos.
- Reece graduated from Cambridge with a degree in economics.