Drop in UK billionaires but rising young fortunes for Wales

SIR MICHAEL MORITZ and his wife Harriet Heyman have retained their crown as the wealthiest individuals in Wales, topping the Welsh list in The Sunday Times Rich List 2025, which was published online today (Friday, May 16) and will appear in this Sunday’s print edition of The Sunday Times.

The Cardiff-born venture capitalist and his American novelist wife are worth an estimated £4.43 billion, despite a recent £168 million dip. They lead the list of the top 20 richest people in Wales, compiled as part of the newspaper’s annual 76-page special on Britain’s richest individuals and families.

Hot on their heels is tech entrepreneur Simon Nixon, with a fortune of £1.95 billion — up £70 million on last year. Pembrokeshire is also represented in the top ranks, with Douglas and Dame Mary Perkins, founders of the high-street opticians chain Specsavers, valued at £1.54 billion. The couple famously launched the company from a ping-pong table in their spare bedroom.

This year’s Rich List reveals the largest drop in UK billionaires in its 37-year history, with the number falling from a peak of 177 in 2022 to just 156 in 2025. The combined wealth of the 350 people featured is now £772.8 billion — a 3% decrease on last year.

While the overall number of billionaires is shrinking, there has been a surge in younger millionaires. For Wales, 39-year-old sports retail entrepreneur Alex Loven leads the under-40 category with an estimated wealth of £262 million. Entry to the 40 Under 40 section now requires a staggering £100 million — nearly double last year’s threshold.

Robert Watts, compiler of The Sunday Times Rich List, commented: “Our billionaire count is down, and the combined wealth of those who feature in our research is falling. We’re also seeing fewer of the world’s super-rich choosing to live in the UK. But at the same time, we’re still uncovering remarkable stories of self-made wealth — from new tech and AI ventures to everyday products like jogging bottoms and radiators.”

The list also highlights rising frustration among entrepreneurs and business leaders about the direction of economic policy. Watts noted that even long-standing British business owners and young tech innovators are warning of the effects of tax changes introduced in the 2024 Autumn Statement.

Among the familiar names still featured are Sir Elton John, Sir Mick Jagger, Sir Lewis Hamilton, and film director Sir Christopher Nolan. The entry level for the Rich List remains at £350 million.

The Rich List also includes The Sunday Times Giving List, which tracks philanthropic giving. This year, the 100 most generous individuals donated £3.7 billion to charity. Welsh businessman Steve Morgan alone contributed millions and called for “braver philanthropic giving to tackle systems, not symptoms.”

The top 5 richest in Wales (2025):

1. Sir Michael Moritz and Harriet Heyman – £4.43bn (venture capital and philanthropy)
2. Simon Nixon – £1.95bn (technology)
3. Douglas Perkins and family – £1.54bn (opticians – Specsavers)
4. Sir Terry Matthews – £1.34bn (telecoms)
5. David Sullivan and family – £1.12bn (property)

Top under 40 in Wales:

• Alex Loven – £262m (sports retail)

The full list of the 350 richest individuals in Britain and further analysis is available online at: https://www.thetimes.com/sunday-times-rich-list
Source: The Sunday Times Rich List 2025

A HAVERFORDWEST man has been found not guilty of rape and sexual assault following a trial at Swansea Crown Court.

RICHARD MURRAY, aged 46, of Hill Street, had faced three charges relating to an incident in Narberth in August 2022.

He was accused of orally raping a woman, sexually assaulting her by touching without consent, and causing her to engage in sexual activity against her will.

Murray denied all the allegations.

After just over an hour of deliberation, the jury returned not guilty verdicts on all counts.

Murray was released from the dock and expressed his thanks to the jury as he left the courtroom.

Judge Paul Thomas KC thanked the jury before discharging them.

A PERSON was rescued from Caldey Island on Tuesday afternoon (May 13) after suffering serious injuries in a fall.

Tenby RNLI launched both its all-weather and inshore lifeboats shortly before 3:30pm following reports that someone had fallen and was believed to have broken their ankle.

Due to tidal conditions, the larger lifeboat was unable to land. Instead, crew members trained in casualty care were deployed from the inshore lifeboat and made their way ashore to assist the injured individual.

After providing initial assessment and pain relief, the casualty was helped to the jetty and transferred onto the lifeboat for the short journey back to the mainland.

On arrival at Tenby lifeboat station, the person was handed over to waiting Welsh Ambulance Service paramedics and taken to hospital for further treatment.