Grace off Puerto Portals. | M Stadler

The superyacht Grace has returned to Mallorca and was off Puerto Portals today.
She is owned by John Reece, an accountant and partner at PricewaterhouseCoopers, who joined the chemicals conglomerate Ineos, and is now the chief financial officer and a minority shareholder.

In May 2021, Forbes estimated Reece’s net worth to be $5.7 billion.
Grace is the 126th largest yacht ever created.

She can accommodate 12 guests in six cabins and has an annual running cost of between $10 and 14 million dollars.

Ineos are the main sponsor of Britain’s bid for the America’s Cup.
They have established a base in Palma as part of their challenge for sailing glory.

Ineos, a London-based conglomerate, produces everything from synthetic oils and plastics to solvents used to make insulin and antibiotics.

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Living up to his billionaire status, Reece is known for his penchant for luxury yachts. He is said to own the yacht Grace (formerly Kibo) and the Feadship yacht New Hampshire. Interestingly, the latter is currently listed for sale.

Ineos’s journey began in 1998 when Jim Ratcliffe took a bold move. He saw potential where others didn’t and acquired unwanted operations from major companies such as BP and Imperial Chemical Industries, now part of Akzo Nobel. To finance these deals, he cleverly leveraged high-yield debt.
His biggest acquisition came in the form of BP’s Innovene petrochemical operation, which handed him refineries in multiple countries, from Scotland to Canada.

Fast forward to the 2000s, John Reece (CFO) and Andrew Currie (COO) joined Ineos and were given a share of the company’s equity, eventually making them billionaires.

Interestingly, Ratcliffe, Reece, and Currie share a mutual love for Feadship yachts.
All three own yachts named ‘Hampshire’. Currie owns the Feadship yacht Hampshire, Ratcliffe owns Hampshire II, and Reece owns New Hampshire.

However, Reece’s ownership of the yacht Grace is subject to verification.