#694

John Reece

United Kingdom 69 years old Self-Made

Overview

Source of Wealth
Chemicals
Industry
Manufacturing
Residence
London
Education
Cambridge University (Bachelor of Arts/Science)

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.

About

Reece graduated from Cambridge with a degree in economics.