Business
Alex Lovén named richest young person in Wales
ALEX Lovén has been named the richest young person in Wales according to the 2024 edition of The Sunday Times Rich List, published online today and in print on Sunday, 19 May. The comprehensive list, detailing the wealth of the 300 richest individuals in Britain, includes a special focus on young entrepreneurs under 40.
The 76-page edition of The Sunday Times Magazine reveals significant trends, including a notable decrease in the number of billionaires, from a peak of 177 in 2022 to 165 this year. The combined wealth of the top 350 individuals and families amounts to £795.361 billion, surpassing the annual GDP of Poland.
Key Welsh Figures
Sir Michael Moritz and Harriet Heyman have been identified as the richest people in Wales, with their wealth increasing by £1.27 billion to a total of £4.603 billion. Moritz, originally from Cardiff, made his fortune through early investments in tech giants such as Google, PayPal, and YouTube.
Lovén, aged 36, is the founder of Net World Sports, a leading retailer selling over 100,000 football goals annually. Starting with a £13,000 savings from his job at a builder’s merchant, Lovén’s wealth now stands at £200 million, making him the 15th richest person under 40 in the UK.
Footballer Gareth Bale and AU Vodka founder Charlie Morgan from Swansea City also feature prominently among the richest young Welsh individuals, with fortunes of £70 million and £56 million respectively.
Philanthropic Efforts
The Sunday Times Giving List, in association with the Charities Aid Foundation, highlights the philanthropic activities of Britain’s wealthiest. Sir Michael Moritz and Harriet Heyman are noted for their significant charitable contributions, donating over 4 percent of their wealth, which amounts to £190.5 million. Their philanthropic focus includes education, democracy, and community projects.
Broader Trends
The Rich List also reveals broader economic trends. Robert Watts, the compiler of the list, commented on the shifting landscape: “This year’s Sunday Times Rich List suggests Britain’s billionaire boom has come to an end. Many home-grown entrepreneurs have seen their fortunes fall, and some of the global super-rich are moving away. Thousands of British livelihoods rely on the super-rich to some extent. We’ll have to wait and see whether we have now reached peak billionaire, and what that means for our economy.”
The Sunday Times Rich List continues to celebrate entrepreneurs from diverse backgrounds who have built fortunes in various industries, including artificial intelligence, virtual worlds, plumbing supplies, and teaching aides. Watts noted the inspirational stories of individuals from humble beginnings who have achieved significant wealth.
Top Five Wealthiest in Wales
- Sir Michael Moritz and Harriet Heyman – £4.603 billion
- Simon Nixon – £1.88 billion
- Douglas and Dame Mary Perkins – £1.587 billion
- Sir Terry Matthews – £1.340 billion
- David Sullivan – £1.168 billion
For the complete list of the 350 richest people in the UK, visit www.thetimes.co.uk/sunday-times-rich-list.
Business
Milford Haven Port Authority in Burry Port Harbour takeover talks
MILFORD Haven Port Authority is in the frame to take over the running of Carmarthenshire’s only harbour.
The Trust Port is in discussions with Carmarthenshire Council, which owns Burry Port harbour, after the previous operator went into administration.
Council cabinet members discussed a harbour report behind closed doors at a meeting in October, the minutes of which said they’d agreed to team up with a “reputable” third party, Milford Haven Port Authority, as soon as legally possible to “develop and sustain” the harbour.
The accumulation of silt and sand at the harbour and concerns about the state of its pontoons have been the cause of many complaints in recent years. A group, Friends of Burry Port Harbour, has been campaigning for action. The council had awarded a 150-year lease in 2018 to a company called Burry Port Marina Ltd to operate the harbour on its behalf. The company went into administration last year.
Speaking on November 4, cabinet members Cllr Hazel Evans and Cllr Alun Lenny said the council had a legal duty as the harbour authority and as its owner to take reasonable steps to ensure it could be used safely.
“We are, therefore, pleased to be able to update stakeholders and the local community that Carmarthenshire Council are in discussions with a reputable and trusted organisation to secure the long-term future of the harbour,” they said.
The Port of Milford Haven handles millions of tonnes of liquefied natural gas and various bulk cargo every year. A freight and passenger ferry service to Ireland also operates there. Its chief executive, Tom Sawyer, confirmed it was in discussions with the council about how it could support the marina operation in Burry Port. “As no formal agreement has been made yet it would be inappropriate for us to comment further,” he said.
Bob John, chairman of Friends of Burry Port Harbour, described Milford Haven Port Authority as well-established and experienced. Welcoming its potential involvement, Mr John said: “Once the formal side of things has been completed we will be looking to have a meeting with the county council.”
The harbour was placed under temporary management following Burry Port Marina Ltd’s administration, and Mr John said there have been some “minor improvements” since such as work at the approach to the harbour channel and the replacement of a barrel post. However, a dredging vessel sank in the harbour in January this year.
Mr John said the number of boat owners who used the harbour had decreased. “It is the only one in Carmarthenshire – it really is a jewel in that respect,” he said.
Business
Wolfscastle Country Hotel crowned Wales’ best boutique wedding venue
THE Wolfscastle Country Hotel and Spa has been named Wales’ Best Boutique Wedding Venue for 2024 at the prestigious Welsh National Wedding Awards.
The ceremony, held on Sunday (Nov 10) at Swansea’s Brangwyn Hall, welcomed more than 600 guests for its 13th annual celebration. Thousands of votes were cast by brides, grooms, and supporters to determine the winners from over 300 shortlisted nominees.
Double victory
The Wolfscastle Country Hotel and Spa not only won the regional title for west Wales but also secured the national accolade for the second time in three years.
Known for its glamorous reception spaces and elegant ceremony room, the hotel offers a comprehensive bridal package. This includes wedding accommodation and a private spa experience featuring a hot tub, sauna, and various treatments.
Celebrating success
Taking to social media, the hotel expressed gratitude to its guests and staff for their role in achieving this prestigious honour.
Hotel owner Andy Stirling said:
“We’re very proud to have been nominated and voted winners in both our local and national categories.
“I have the pleasure of seeing how tirelessly Lowri, and my wife Mandy Stirling, our wedding coordinators, work on every wedding to tailor the experience to suit the couples we have joining us.
“We pride ourselves on offering exquisite in-house catering provided by head chef Seb, head pastry chef Adama, and our excellent kitchen team, backed up by first-class table service from our highly experienced waiting staff.
“I am overwhelmingly grateful for the support of our guests and couples who have wedded with us in helping achieve this award.
“I know that myself and the team all look forward to hosting many more phenomenal weddings in the future.”
Welsh National Wedding Awards
The awards celebrate the best wedding venues and services across Wales, with attendees from all regions of the country.
Business
Upgrades completed at Port of Milford Haven’s simulator suite
UPGRADES have been completed to state-of-the-art equipment within the Port of Milford Haven’s navigation simulator suite at Milford Waterfront enabling marine professionals to receive bespoke specialist training. The virtual reality simulation system can safely replicate a range of scenarios that seafarers may experience in real world situations such as extreme weather conditions, emergency situations and escort tug work.
The upgrades provided by Netherlands-based company MARIN contain the latest hardware in terms of processing power and graphics, as well as upgrades to MARIN’s ‘Dolphin’ software, increasing the capability to create scenarios. These are complemented with new 4k visuals on 75” screens which increase the depth and field of vision, adding to the realism.
Recently, a training day was led by Training Pilot Captain Mark Johnson, assisted by ex-Pilot Andy Hillier, involving members of the Svitzer team as well as Pilots Matt Roberts and Ian Coombes. As part of the scenario, they were faced with a loss of engine power and steering along with worsening weather and sea conditions. The Pilots had to communicate with Svitzer in order to successfully instruct them on how to tow and direct a drifting tanker. While scenarios like these are uncommon within port operations, it is important to rehearse procedures that would be implemented if they are required and enhances participants’ skill sets.
Marine Pilot and Simulator Instructor, Captain Ewan McNicoll, said “This simulator suite has future proofed our training capabilities, both internally for Pilots and marine staff, but also externally for clients wishing to use the facility, be it for training purposes or research and development. We can create any type of scenario with any type of ship, ranging from practicing ship handling manoeuvres to emergency situations, it really is game changing! Working with our partners at MARIN has been a complete success and I am very proud of our new facility.”
For more information about training at the navigation simulation suite please contact the Port of Milford Haven at [email protected] or 01646 696100.
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