Wales

Sunday Times Rich List: Wales' top billionaires get richer

Sir Michael Moritz Image copyright Getty Images
Image caption Sir Michael Moritz is chairman of the US-based venture capital firm, Sequoia Capital

The fortunes of Wales' top five billionaires has grown again, according to the Sunday Times Rich List.

But it has not been "a golden year" for Wales' wealthy due to "political deadlock" hitting people's fortunes, said the list compiler Robert Watts.

Six of the top 20 on Wales' rich list have lost money, despite an overall 5.8% increase in wealth.

Cardiff-born venture capitalist Sir Michael Moritz remains Wales' richest person with a £3bn fortune.

Specsavers co-founder Douglas Perkins, from Llanelli, Carmarthenshire, remains second with £1.8bn and Moneysupermarket.com co-founder Simon Nixon, of Flintshire, stayed third.

Sir Michael's wealth increased by £37m, Mr Perkins' grew by £100m and Mr Nixon's by £110m.

Celtic Manor owner Sir Terry Matthews' wealth rose by £165m and David Sullivan's by £50m.

The top five billionaires in the list, who have a connection to Wales, have a combined fortune of £8.55bn.

Image copyright Specsavers Optical Group
Image caption Douglas and Dame Mary Perkins set up Specsavers in 1984

Denbigh-raised tech entrepreneur Lawrence Jones - in eighth place - appears to be the "biggest winner", according to Mr Watts.

Mr Jones, who set up cloud hosting company UKFast, has had the biggest increase, more than doubling his family's wealth to £700m.

However Mr Watts added: "This has not been a golden year for many of Wales' richest people.

"The political deadlock in Westminster, stock market turbulence and the winds of change sweeping through the high street have hit the fortunes of many of the UK's wealthiest people over the past year."

The Sunday Times Rich List charts the wealth of the 1,000 richest people in the UK, based on identifiable wealth, including land, property and other assets.

Image copyright Moneysupermarket.com
Image caption Simon Nixon founded Flintshire-based Moneysupermarket.com

The Sunday Times Rich List for Wales 2019

1. Sir Michael Moritz - £3bn

2. Douglas Perkins and family - £1.8bn

3. Simon Nixon - £1.36bn

4. Sir Terry Matthews - £1.24bn

5. David Sullivan and family - £1.15bn

6. Steve Morgan - £950m

7. Henry Engelhardt and Diane Briere de l'Isle - £845m

8. Lawrence Jones and family - £700m

9. John Deer - £608m

10. Mark Watkin Jones and family - £300m

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