**Wales’ Sole Representative Under 40 on Sunday Times Rich List Revealed**
A single Welsh entrepreneur has secured a coveted spot on this year’s Sunday Times Rich List of the UK’s wealthiest individuals under the age of 40, highlighting a significant achievement for the nation’s business landscape. Alex Lovén, the 37-year-old founder and chief executive of Net World Sports based in Wrexham, is the only person from Wales under 40 to appear on the distinguished list, and he now ranks as the 18th youngest wealthy individual in Britain.
Published annually for nearly four decades, the Sunday Times Rich List is regarded as a definitive barometer of personal wealth, assessing the fortunes of the 350 richest people and families in the United Kingdom. This year’s edition, released on 16 May 2025, comes amid a noticeable contraction in both billionaire ranks and combined wealth across the UK’s wealthy elite. Since the record high of 177 billionaires documented in 2022, the number has shrunk to 156 in 2025—the sharpest drop recorded by the publication. For the first time, the cumulative wealth of the listed individuals has also fallen, dropping by three per cent to £772.8 billion.
The methodology underpinning the rich list involves an extensive review of publicly known wealth sources, including landholdings, property assets, art collections, valuable items such as racehorses, and shares in companies listed on the stock market. Crucially, money held in private bank accounts remains excluded due to access limitations. This year, the minimum threshold for inclusion in the list was a substantial £350 million, a figure that places even high-profile celebrities and business figures under scrutiny for potential inclusion.
Amongst the big names featured in the list are British household figures such as Sir Elton John, Lord Lloyd-Webber, and the legendary Rolling Stones’ Sir Mick Jagger and Keith Richards. Also included are modern entrepreneurs and famous sports personalities like Euan Blair and Formula One world champion Sir Lewis Hamilton. For Wales, the overall title for the richest individuals remains with venture capitalist Sir Michael Moritz and his wife, the American author Harriet Heyman, who continue to head the Welsh contingent on the list.
Notably, last year’s register saw three Welsh individuals under 40 make the cut, but ongoing economic shifts and stricter thresholds have seen that figure fall to just one in 2025. Well-known figures such as football hero Gareth Bale and Charlie Morgan, the founder of Au Vodka, are among those who failed to retain a position in the latest rankings, indicating both the volatility and competitiveness involved in the annual compilation.
Alex Lovén’s story stands out as a testament to entrepreneurial ambition and self-made success. Lovén, who began his working life at a builder’s merchant and once described himself as “the poorest person” in his school, managed to save £13,000 from his early employment before founding Net World Sports. The Wrexham-based business has since developed an international reputation, manufacturing and distributing sports equipment to major global brands and sporting organisations, including FIFA and UEFA.
From these modest beginnings, Lovén’s venture has flourished into a company said to be worth hundreds of millions of pounds. According to the 2025 list, his net worth has surged to £262 million, an increase of £62 million over the previous year, reflecting continued business growth and market expansion.
Lovén’s success not only underlines personal perseverance but also draws attention to the potential for regional companies in Wales to excel on a national and even international stage. As the one young Welsh figure to remain on the Sunday Times Rich List under 40, his achievements serve as inspiration for aspiring entrepreneurs throughout the country.
Looking ahead, economic analysts and observers of the Rich List will be watching closely to see if more young Welsh talent can break into the ranks in future editions, as the list continues to evolve alongside Britain’s ever-changing financial landscape.