Jim Ratcliffe Acquires More Land in Iceland Skip to content

Jim Ratcliffe Acquires More Land in Iceland

By Yelena

Jim Ratcliffe
Photo: Jim Ratcliffe..

British billionaire Jim Ratcliffe has purchased holding company Grænaþing from investor Jóhannes Kristinsson, Fréttablaðið reports. With the acquisition, Ratcliffe has a 86.7% stake in the fishing association Strengur Ltd., which owns the fishing rights of Selá and Hofsá rivers in Vopnafjörður, Northeast Iceland.

Ratcliffe was named the UK’s richest person in May 2018, with a net worth of £21.05 billion. He now has owns over 30 properties in Vopnafjörður in whole or part, alongside other land in Iceland.

Chairman and CEO of Ineos chemicals group, Ratcliffe has been purchasing land in Northeast Iceland over the past several years with the stated goal of protecting salmon rivers in the area. When he purchased Grímsstaðir á fjöllum in 2016, Ratcliffe issued a statement saying the land was an important catchment area for salmon rivers in the region and the purchase was a step toward protecting wild Atlantic salmon stocks.

The purchase of Icelandic land by foreign nationals has been in the local media spotlight lately, with many locals concerned about foreign landowners’ intentions with the land. Minister of Justice Sigríður Á. Andersen has expressed her desire to tighten land purchase regulations and increase transparency in company ownership of land.

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