He is an old boy of Vidyartha College, Kandy and the founder and Chairman of Euronippon Group of Companies.
Political career
On 27 November 2023, Ranasinghe was removed from his cabinet portfolios of Minister of Sports and Youth Affairs and Minister of Irrigation by President Ranil Wickremesinghe. His removal came after Ranasinghe accused Ranil Wickremesinghe of attempting to frame him when he spoke against corruption in Sri Lanka Cricket.[3] The parliament supported Ranasinghe in his plight of fight against corruption by passing a unanimous but non-binding resolution three weeks earlier.[4]