As a result of the decrease, Ratcliffe has fallen from fourth to seventh place on the annual ranking of the UK's 350 wealthiest individuals.
Ratcliffe's company, Ineos Group, acquired a 27.7% stake in Manchester United in February 2024 for around £1.25 billion ($1.6 billion), giving Ineos control over the club's football operations.
His tenure at the club has not been without controversy. Fans and observers have criticized decisions to increase ticket prices and lay off staff in two separate rounds of redundancies, aimed at improving United's financial health.
Defending these cost-cutting moves in a March interview with the BBC, Ratcliffe warned that Manchester United might have "run out of cash by the end of the year" without such tough decisions.
Despite the financial challenges, United announced plans earlier this year to build a £2 billion, 100,000-capacity stadium near Old Trafford, which they aim to make a landmark venue.
Ratcliffe has insisted that the financial strain facing Ineos will not affect the football club. Ineos, a major player in the petrochemical industry, has been making cutbacks. Earlier this year, it withdrew early from its sponsorship deal with New Zealand Rugby and ended its partnership with Olympic sailing champion Ben Ainslie. Ineos had supported Ainslie's Britannia team in the America's Cup since 2018.
The company pointed to broader economic issues in Europe, including soaring energy and carbon taxes and the ongoing "deindustrialisation" of the continent, as reasons for the austerity.
When asked about Ineos' financial difficulties in March, Ratcliffe told BBC sports editor Dan Roan, "Ineos is still in a strong position today, but not as strong as it was three or four years ago. Europe is now a tough environment for industrial firms due to energy costs being five times higher than in the U.S., where much of our competition is based."
Meanwhile, Manchester United's season has been challenging. With only two games left, they sit 16th in the Premier League standings. Their hopes of silverware and a spot in European competition next season depend on their upcoming Europa League final against Tottenham , the winner of which will earn a place in the Champions League.
While Ratcliffe's fortune has taken a hit, several top British athletes have seen their wealth grow, according to the same Sunday Times list.
Golfer Rory McIlroy tops the paper's "40 under 40" list, which tracks the wealthiest young individuals in the UK. McIlroy, who completed a career Grand Slam with his Masters win last month, is now worth £260 million , up from £225 million last year , ranking him 19th overall.
Boxer Anthony Joshua, who hasn't fought since his loss to Daniel Dubois in September, ranks 24th with £195 million. Tennis legend Sir Andy Murray, who retired in August, is 35th with £110 million.
England football captain Harry Kane rounds out the list in joint 38th place. Following his Bundesliga title win with Bayern Munich, his fortune rose by £25 million to hit £100 million.
