**Wales’ Wealth Elite: The Richest People in the Nation Revealed by New Sunday Times Rich List**
A fresh edition of The Sunday Times Rich List has placed the spotlight on Wales, revealing the nation’s wealthiest individuals and families as part of its annual roll call of the UK’s financial elite. Published on 16 May 2025, the renowned list provides new insights into who holds the greatest fortunes in Wales, as well as highlighting a general contraction in extreme wealth across the country.
The list, produced each year by The Sunday Times, ranks the top 350 wealthiest individuals and families in Britain and is widely considered the most authoritative summary of UK high net worth. This year’s combined wealth of those featured totals an eye-watering £772.8 billion. However, the list comes with a note of caution: many in the elite group have seen their fortunes dwindle over the last year, reflective of broader economic shifts.
Eligibility for the Rich List demands a fortune in excess of £350 million, made up from assets such as land, property, company shares and collectables, but specifically excluding standard bank accounts. Notable previous and current members have included household names such as Sir Elton John, Sir Mick Jagger and Dame Judi Dench, yet Wales’s contribution comes from a diverse group of industrialists, entrepreneurs, philanthropists and innovators.
The 2025 edition shows a continued fall in the number of billionaires in Britain. While in 2022 there were 177, this has now declined to 156—the sharpest annual drop recorded by the list’s compilers. Moreover, the collective value of their assets has fallen, down three percent in a 12-month period. This trend mirrors earlier warnings that the ultra-rich are feeling the impact of both global economic headwinds and domestic policy challenges.
Dominating the Welsh contingent is Sir Michael Moritz and his wife Harriet Heyman. Moritz, originally from Cardiff, amassed his fortune as a venture capitalist in the United States, famously placing early bets on now-global tech giants such as Google, WhatsApp and YouTube. The couple’s current wealth is reported at £4.435 billion, a decrease of £168 million from the previous year, though they remain at the pinnacle of Welsh wealth.
In second place is technology entrepreneur Simon Nixon, best known for co-founding the price comparison site MoneySuperMarket. Now based in luxury locations worldwide, Nixon has increased his assets by £70 million to a current total of £1.95 billion. He maintains a financial presence through investments in innovative companies, including the banking app Monzo and a luxury holiday rental business.
Branches of family business also feature strongly among Wales’s richest. Douglas Perkins and family, founders of the globally recognised Specsavers chain, maintain their multi-billion pound fortune at £1.539 billion—despite a fall in value over the past year. They are an emblematic example of entrepreneurship, having built their empire from humble beginnings in Llanelli.
Sir Terry Matthews, long hailed as Wales’s first billionaire, remains a significant figure. Having established a telecoms empire starting from his student roots in Newbridge, Sir Terry now also owns prominent hospitality ventures, such as the Celtic Manor Resort. His position has slipped slightly in both wealth and ranking but he continues to rank highly, with an estimated £1.338 billion.
David Sullivan, originally from Cardiff, rounds out the Welsh top five with a net worth of just over £1.1 billion. Known for his early forays into publishing and property, Sullivan is perhaps most recognisable now as co-owner of West Ham United football club. Despite controversial beginnings, his business acumen has kept him among the wealthiest in the land.
Other notable entries include house builder Steve Morgan in sixth place (£988m), the insurance duo of Henry Engelhardt and Diane Briere de l’Isle (£980m), and the construction magnates Dai and Richard Walters (£418m)—demonstrating the diversity of sectors driving Welsh wealth.
In a year of challenges and financial recalibration, the latest Rich List’s Welsh edition underlines the resilience and adaptability of several home-grown business leaders, whose impact reaches well beyond the borders of Wales. As the country continues to evolve, so too does the composition of its financial elite, reflecting both global trends and local success stories.