The richest people in Wales have been revealed with five billionaires among them. Worth in excess of a whopping £9bn between them the billionaires – who range from internet investors to property moguls – have been listed as some of the wealthiest people in the UK.
And if being a billionaire wasn’t already enough the richest person in Wales saw their fortune rise by £500m in the last year alone. Each year the Sunday Times compiles a list revealing the wealth of the 250 richest people in Britain.
It also breaks down the rankings for people in Wales and there are five Welsh billionaires named on the list of 177 UK billionaires this year with the UK tally up by six on 2021. The combined wealth of the UK billionaires is £653.122bn, which is up £55.853bn (9.4%) on the total wealth of the billionaires in last year’s ist.
Read more:Identity of £184m jackpot winners revealed
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.
The person topping the list of Welsh people this year is Sir Michael Moritz, whose wealth has grown by half a billion in the last year taking his worth to £4bn. These are Wales’ richest people according to The Sunday Times rich list 2022.
1. Sir Michael Moritz
Source of wealth: Internet
2022 wealth: £4bn
Yearly difference: Up £500m
Cardiff-born former journalist Sir Michael Moritiz, 67, and his American novelist wife Harriet Heyman have seen their fortune grow by £500m in 12 months to a total of £4bn, thanks largely to savvy investment in successful internet businesses over 25 years by San Francisco-based Moritz.
Moritz joined Sequoia Capital in 1986 and made his billions by spotting the potential for Google, PayPal, Alibaba, WhatsApp, YouTube, and a host of other tech giants ahead of anyone else. His £8m investment in Google peaked at £6.3bn. The 66-year-old 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 gave away $120m in 2020. It has assets of close to $2bn for future charitable spending and it is estimated they have given away at least £1.356bn since 2002 including £100mn to the University of Oxford, much of which is used to support students from low-income families.
2. Simon Nixon
Source of wealth: Internet and property
2022 wealth: £1.925bn
Yearly difference: Up £125m
Nixon remains in second place this year following a successful year for his technology investments. He made his fortune by co-founding the price comparison website moneysupermarket.com in 1999. His fortune is up £125m on last year’s figure to stand at £1.925bn. Between 2020 and 2021 his fortune grew by a huge £450m.
3. Douglas and Dame Mary Perkins and family
Source of wealth: Opticians (Specsavers)
2022 wealth: £1.33bn
Yearly difference: Up £130m
It has been a good year for Douglas Perkins and family who move from fourth to third position on this year’s list. In 1984 Mr Perkins, now 78, set up Specsavers with his wife Dame Mary Perkins, 77, in Guernsey. The firm is now a partnership of almost 2,000 locally-run businesses providing optical health and hearing health help in 10 countries.
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 his life growing up in Carmarthenshire here.
4. Sir Terry Matthews
Source of wealth: Computers
2022 wealth: £1.23bn
Yearly difference: Down £10m
He may have dropped one place to fourth in this year’s list but Sir Terry 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
2022 wealth: £1..118bn
Yearly difference: Up £78m
David Sullivan, born in Penarth, has seen a huge £78m growth in his fortune following a £50m loss last year. 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.
6. Henry Engelhardt and Diane Briere de I’Isle
Source of wealth: Insurance (Admiral)
2022 wealth: £956m
Yearly difference: Down £170m
Wales’ wealthiest couple have dropped from billionaire status in this year’s list, recording a yearly difference of £170m. The couple founded Admiral insurance in 1991.
In 2015 American-born Mr Engelhardt, 63, retired from managing the $6bn business, which is based in Cardiff. The couple are renowned for their philanthropy and have donated money to Noah’s Ark Appeal and Velindre Cancer Care over the years. They still live in Cardiff. Learn more about Mr Engelhardt, and how he gained a reputation for being an amazing boss, in this interview.
7. Steve Morgan
Source of wealth: Construction (Redrow)
2022 wealth: £789m
Yearly difference: Down £92m
The founder of Redrow houses has seen a huge drop in his wealth in the last year. He founded the firm in 1974 and it grew into one of the UK’s most successful house builders before he retired in 2019.
He founded the Steve Morgan Foundation in 2001 to support charities that help children and families, people with physical or learning disabilities, the elderly, or those that are socially disadvantaged in Merseyside, Cheshire, and north Wales. A lifelong Liverpool FC fan he unsuccessfully tried to buy the club on several occasions before eventually buying Wolverhampton Wanderers in 2007 where he remained as owner until 2016.