The richest people in Wales have been named in this year’s The Sunday Times Rich List - with five billionaires on the list. Each year, The Sunday Times Magazine reveals the wealth of the 350 richest people in Britain.
According to the 68-page special edition, there are 171 billionaires in the UK recorded this year, down 6 from 2022, the first fall for 14 years. The combined wealth of the UK billionaires is £683.856 billion, up £30.734 billion, or 4.5 per cent, on the total wealth of the billionaires in last year’s Rich List.
The list is based on identifiable wealth, including land, property, other assets such as art and racehorses, or significant shares in publicly quoted companies. It excludes bank accounts, to which the paper has no access.
Read more: Welsh tech firm IQE secures £30m via new share placing
Welsh footballing legend Gareth Bale and the owners of Swansea-based AU Vodka were also named among the richest people in the UK under 35. Cardiff-born Bale’s £70 million pound fortune stems from his 17-year football career, during which he reportedly earned £600,000 a week.
Owners of AU Vodka, Charlie Morgan and Jackson Quinn, are also referenced as some of the richest individuals in the UK under 35. Hailing from Swansea City, Morgan and Quinn launched AU Vodka in 2015.
Five Welsh billionaires are named on the list of UK billionaires this year, worth in excess of £9bn between them. Sir Michael Moritz is once again the richest person in Wales with a total wealth of £3.3bn, although this was down by £667m on last year.
Wales List
1. Sir Michael Moritz
Source of wealth: Internet: Sequoia | 2023 wealth: £3.3bn | Yearly difference: Down £667m
Cardiff-born former journalist Sir Michael Moritiz, 68, and his American novelist wife Harriet Heyman have seen their fortune decrease by £667m in 12 months to £3.3bn. He made is money investing in Google, PayPal and YouTube at venture capital firm Sequoia. His £8m investment in Google peaked at £6.3bn. Together, the couple co-founded Crankstart - a foundation designed to support critical issues, from economic mobility and education to the environment, medical science and innovation.
Moritz and his wife have donated 5 percent of their current wealth to charitable causes, ranking them the top of the 10 most charitable in the UK according to The Sunday Times Giving List
2. Simon Nixon
Source of wealth: Internet and property: Moneysupermarket | 2023 wealth: £1.825bn | Yearly difference: Down £100m
In second place, Mr Nixon made his fortune by co-founding the price comparison website moneysupermarket.com in 1999 and has since made investments in technology firms and property. Between 2020 and 2021 his fortune grew by a huge £450m. In 2022, his wealth stood at £1.925bn, which had grown by £125m.
3. Douglas and Dame Mary Perkins and family
Source of wealth: Opticians: Specsavers | 2023 wealth: £1.56bn | Yearly difference: Up £236m
Llanelli-born Douglas, 80, and his wife Dame Mary Perkins, 79, and their family, who control the high-street operation Specsavers, have added £236m to their fortune in the past year - making them this year’s highest climbers in Wales. Douglas and Bristol-born Dame Mary. who are based in Guernsey, met while they were students at Cardiff University.
4. Sir Terry Matthews
Source of wealth: Telecoms: Mitel | 2023 wealth: £1.33bn | Yearly difference: Up £103m
The 76-year-old entrepreneur, who owns the Celtic Manor resort in Newport, was Wales’ first billionaire, and has founded more than 100 companies.
5. David Sullivan and family
Source of wealth: Property, football and media: Conegate | 2023 wealth: £1.118bn
| Yearly difference: No change
David Sullivan, born in Penarth, co-owned an adult magazine with his brother, which was sold in 2006. He also owned the Daily Sport and Sunday Sport newspapers, which he sold for £40m in 2007.
He is the joint-chairman and largest single shareholder of Premier League football team West Ham United.
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