The richest people in Wales have been named in this year's Sunday Times rich list. Each year, The Sunday Times Magazine reveals the wealth of the 350 richest people in Britain.
According to the magazine, there are 171 billionaires in the UK recorded in 2023, which is down six from last year and is the first fall in 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 billionaires in last year's Rich List.
The 68-page edition also breaks down the rankings for people in Wales and there are five Welsh billionaires named on the list of UK billionaires this year. Worth in excess of a whopping £9bn between them, the billionaires range from internet investors to property moguls.
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The list is based on identifiable wealth which includes land, property, other assets such as racehorses, and significant shares in public companies. It does not include bank accounts, which the paper has no access to. It also includes family wealth.
Welsh footballing legend Gareth Bale and Swansea-based AU Vodka have also made it onto the list. Cardiff-born Gareth Bale, who announced his retirement from football in January, has been named as one of the richest people in the UK under 35, with his £70 million pound fortune stemming from his 17-year football career, during which he reportedly earned £600,000 a week.
Meanwhile the 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, Morgan and Quinn launched AU Vodka in 2015.
But the people topping The Sunday Times Rich List for Wales this year are Sir Michael Moritz and Harriet Heyman. Moritz's wealth had grown by half a billion last year taking his worth to £4bn. This year however, it has gone down by £667m to £3.333bn.
These are Wales' richest people according to The Sunday Times rich list 2023.
1. Sir Michael Moritz and Harriet Heyman
Source of wealth: Internet (Sequoia)
2023 wealth: £3.333bn
Yearly difference: Down £667m
Cardiff-born former journalist Sir Michael Moritz, 67, and his American novelist wife Harriet Heyman have seen their fortune decrease by £667m in 12 months to a total of £3.3bn. Moritz joined Sequoia Capital in 1986 and made his billions by spotting the potential for Google, PayPal, Alibaba, WhatsApp, YouTubeand a host of other tech giants ahead of anyone else. His £8m investment in Google peaked at £6.3bn.
The billionaire stepped down from running Silicon Valley-based Sequoia Capital in 2012 due to illness. Moritz and his wife set up a foundation called Crankstart, which is foundation that helps support students from low-income families. In 2020, the foundation gave away $120m.
2. Simon Nixon
Source of wealth: Internet and property (Moneysupermarket)
2023 wealth: £1.825bn
Yearly difference: Down £100m
Simon Nixon remains in second place this year, although his wealth has decreased from £1.925bn to £1.825bn, down by £100m. He made his fortune by co-founding the price comparison website moneysupermarket.com in 1999. 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: £1.566bn
Yearly difference: Up £236m
Husband and wife Douglas and Dame Mary Perkins started Specsavers from their spare bedroom. This year, they are the highest climber in Wales according to The Sunday Times Rich List. Their combined wealth is estimated at £1.566 billion - up £236 million.
The pair came up with the idea of making a visit to the opticians like going to a shop rather than going to the doctor and turned the idea into a hugely profitable international business. You can read about Douglas Perkins' life growing up in Carmarthenshire here.
4. Sir Terry Matthews
Source of wealth: Telecoms (Mltel)
2023 Wealth: £1.333bn
Yearly difference: Up £103m
Last year, Sir Terry dropped one place to fourth and remains in this position again this year, but he is still one of Wales' wealthiest people. The 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, has seen no change in his wealth but is the fifth most wealthy person from Wales in this year's list. He 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 also has a 50% stake in West Ham United.
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