North East rich list 2025: richest billionaire named by Forbes - John Reece's story and how he made his money
From the North East to billionaire status - how one man built a fortune 💰
- John Reece is the richest person from the North East of England according to Forbes’ Real-Time Billionaires List
- A chartered accountant, Reece joined Ineos in 2000 as financial director
- Ineos produces a wide range of chemical products, from plastics to solvents used in medicine
- Reece built his fortune through his minority stake in Ineos
- Despite his North East roots, he now resides in Bougy-Villars, Switzerland
The richest billionaire from the North East of England has been revealed by Forbes’ Real-Time Billionaires List.
The list tracks and updates the net worth of the world's wealthiest individuals on a daily basis, using stock prices, currency exchange rates, and other financial data to estimate changes in their fortunes.
It’s shown that the richest person to emanate from the North East - and the only person to make coveted billionaire status - hails from Sunderland. According to the list, John Reece is worth $5.2 billion (£4.1 billion).
Born in March 1957, he attended Bede School (now Sunderland College), before studying economics at Queens' College, Cambridge.
Reece, a chartered accountant, joined Ineos in 2000 as financial director, just under two years after the $68 billion (2022 revenue) chemicals conglomerate was founded.
Previously a partner at PricewaterhouseCoopers specialising in chemicals firms, Reece remains on Ineos' board.
The London-based company manufactures a wide range of products, from synthetic oils and plastics to solvents essential for insulin and antibiotic production.
Ineos has become a major player in the UK's shale sector, with its 600-foot "Dragon Ships" pioneering the transport of US shale gas into Europe.
In 2021, the company acquired two chemical businesses from BP for $5 billion, followed by petrochemical joint ventures with Sinopec valued at over $7 billion in 2022.
In 2023, Ineos expanded further, purchasing $1.4 billion worth of U.S. onshore oil and gas assets from Chesapeake Energy. Reece's fortune comes from his minority stake in the company.
Despite being born and raised in the North East, Reece now lives in Bougy-Villars in western Switzerland.
What do you think about John Reece’s success and the impact of Ineos? Are there other business leaders from the North East who deserve more recognition? Share your thoughts in the comments section.