Manchester United minority owner, Sir Jim Ratcliffe, has seen his wealth fall by £6.473 billion ($8.6bn) in the past 12 months, according to the latest Sunday Times Rich List.

The drop represents around a quarter of Ratcliffe’s total wealth, which declined from £23.519bn ($31bn) to £17.046bn ($22.5bn).

The 72-year-old business mogul has been overseeing United’s football operations since he bought a 27.7% stake in the club in February 2024, although it has not been a smooth ride with United suffering their worst-ever Premier League campaign this season.

Ratcliffe has invested more than £300m ($398m) into Manchester United.

The British billionaire has led significant changes at United that have included hundreds of staff redundancies, widespread cost-cutting measures a rise in ticket prices and plans for a new 100,000-seater stadium.

According to The Guardian, Ratcliffe’s petrochemical businesses have incurred debts that were between five to six times more than the company’s annual earnings.

United’s strict financial measures have seen manager Ruben Amorim pay for 30 of his backroom staff to take their families to next week’s Europa League final in Bilbao, Spain, according to ESPN sources, after being told by the club that his coaches, physios and support team would have to pay for their own tickets.

United will play Tottenham in Bilbao on May 21 with the prize of Europa League glory accompanied by a place in next season’s Champions League for the victors.

Ratcliffe, who has previously topped the list as Britain’s richest person, slipped to seventh this year.

Meanwhile, golfer Rory McIlroy is the richest athlete on the list at 19th with a net worth of £260m ($345m). The richest British footballer is Harry Kane, who increased his net worth by £25m to £100m ($132m).