He is?
He's managed AC Milan at a fantastic time, then Chelsea and then Real Madrid.
Rafa has managed Valencia, Liverpool and Napoli, none of which are close to being as competitive financially as the clubs he has had yet he has the same number of league titles, domestic cups and European trophies (albeit two UEFA Cups).
He isn't.
It was only by 2003-4 that Real became a massive european power and 05 before Barcelona became a top 5 team in the money league game. Valencia had less but not disturbingly less. The gap in money between Real/Barca and Valencia today or even in 2005 is not the gap that existed in 2001. Tv revenue increased drastically from 2000 onwards, the prem league grew faster than Spanish league to the point where Liverpool brought in more than REal in 01/02 and Arsenal more than Barcelona(they were both below Real).
in 04/05 Real were top of the money league while Barca were 70mil behind them in 6th, first year Real surpassed Utdfrom 2000 where Utd were 80mil ahead of Real. It was 2002-2005 that saw the rapid growth of Real and Barca and only since 2005 have they almost entirely dominated the league as they do today.
The results in spain were:-
99/00 Deportivo, Barca, Valencia, Zaragoza, Real.
00/01 Real, Deportivo, Mallorca, Barca, Valencia.
01/02 Valencia, Deportivo, Real, Barca, Celta(Mallorca dropped to 16th).
02/03 Real, Sociedad, Deportivo, Celta, Valencia, Barcelona.
03/04 Valencia, Barcelona, Deportivo, Real, Bilbao... Sociedad were 15th, Celta got relegated.
Late 90's and early 2000's the Spanish league was incredibly competitive. Outside of Barca and Real being top 6 teams they certainly weren't the big two, they weren't even certain to finish in CL spots and minnows often came out of nowhere and displaced them.
Valencia didn't have a monumental money gap to the top teams, they were one of the top teams. Let's not use current situation in La Liga to rewrite history. Neither Barca nor Real formed a big two, they had more but not much more financial power and over that 5 year period Barca were weak, Real had good and bad years, Deportivo were probably the most consistent team of them all.
What he did at Valencia has been blown out of all proportion by comparing it to winning the league against Real/Barca today, not even close to the same situation. What Atletico did was truly phenomenal and on an entirely different level to what Valencia/Benitez achieved over a decade earlier.
LIverpool also had the third biggest budget it he league when he took over and even when Arsenal caught up and moved ahead(in 06/07 with new stadium by 40mil or so on average) Arsenal were both servicing debt and then because Wenger is a stubborn fool, building up about 180mil in cash. So 40mil more but basically spending none of that extra on football.
When City finally started spending and went above Liverpool in financial power it still took them a few years for the money to get them to competing for top 4. When it did, Liverpool dropped below Villa and Spurs as well. So team with 3rd largest budget finished mostly third, had one great season(cl win), one almost season(finishing 2nd) and one dire season finishing 7th.
Benitez is okay but nothing special IMHO, he's taken Napoli backwards, took Liverpool's squad backwards ending with a disaster and leaving a meh team for the next three managers to do something with.
Not sure Ancelotti has that great a record. I think Milan weren't particularly good in the league, only one title over multiple years. What he did achieve was two CL wins with a below standard team and it could have been(should have been) three. That is likely why Real got him, they wanted another CL win over a league title and got precisely that.
Ancelotti for me is more of a cup specialist manager rather than a league winner.