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
Plaid energy policy challenged by Labour after Adam Price interview
LABOUR SAYS MINISTERS MUST EXPLAIN COST AND TIMETABLE FOR PYLON PLANS
PLAID CYMRU’S approach to energy infrastructure has come under scrutiny after Energy Minister Adam Price was challenged over plans to reduce the use of overhead pylons in Wales.
Mr Price defended the Welsh Government’s position during an appearance on BBC Radio Wales’ Sunday Supplement, arguing that communities must have greater confidence in how major grid projects are handled.
Plaid Cymru has pledged to give communities a stronger voice over energy developments and to look more closely at alternatives to overhead transmission lines, including underground cabling where possible.
The issue has become increasingly sensitive in rural parts of Wales, where proposed pylon routes linked to renewable energy schemes have raised concerns about landscape impact, tourism and local consultation.
However, Welsh Labour said the minister had failed to explain when any restriction on pylons would take effect, or who would pay the additional cost of placing cables underground.
A Welsh Labour spokesperson said: “Adam Price keeps saying how clear their manifesto was and yet he won’t say when they’re banning pylons. They won’t say who is paying for the extra cost of undergrounding cables.
“Without certainty, companies won’t invest. That’s thousands of clean, green energy jobs at risk. Plaid need more than a plan to have a plan.”
Labour said the Welsh Government must now set out how its policy would work in practice, including whether it amounts to an outright ban, what exemptions would apply, and how any extra costs would be funded.
The debate highlights the challenge facing ministers as Wales seeks to expand renewable energy generation while addressing public opposition to large-scale grid infrastructure.
Business
New facilities at Haverfordwest Target Shooting Club agreed
A CALL by a Pembrokeshire shooting club for more disability-friendly facilities has been given the go-ahead by county planners.
In an application to Pembrokeshire County Council, Haverfordwest Target Shooting Club, through agent Andrew Sutton Architecture, sought permission for an extension to existing target shooting club building at The Firing Range, Withybush Road, Haverfordwest to improve accessibility and internal facilities, together with associated landscaping works.
A supporting statement said: “The club’s own published history states it was founded in 1968, moved from the Drill Hall to the old wartime airfield butts at Withybush by the early 1970s, and had developed facilities over time, including the clubhouse by 1999. The established leisure/community use has existed on the site for a number of years and the proposal does not seek to intensify the core activity beyond that already authorised/established.”
It added: “The primary objective of the scheme is to improve inclusive access to the club’s facilities for disabled users and those with reduced mobility. The internal arrangement will provide adequate entrance and lobby space, clear accessible routes and appropriately designed sanitary accommodation, including an accessible wetroom/shower and separate WC.”
It also said accessible parking and surfacing designed to provide a firm, even, slip-resistant route from parking to the principal entrance.
It added: “The Equality Act 2010 places duties on service providers to make reasonable adjustments so that people with additional access needs are not placed at a substantial disadvantage.
“The proposal is therefore a positive enhancement to a community/leisure facility and supports wider policy objectives for inclusive environments.”
It went on to say: “The club operates within a highly controlled environment, and the proposed works will maintain and enhance safety and security measures.”
The application was conditionally approved by planners.
Business
St Davids GP surgery plans lodged with national park
PLANS to convert a former GP surgery in Pembrokeshire’s only city to a home and holiday let have been lodged with the national park.
In an application to Pembrokeshire Coast National Park, Alice and Danjal Joensen, through agent Oochitecture, seek permission for a change of use of the ground floor of the former GP surgery, Eryl Mor, 36, New Street, St Davids, merging with the existing first-floor apartment to create a larger single dwelling house, along with the creation of an attached short-term holiday let.
The GP surgery is currently vacant, following its closure in October 2024 after new partners could not be secured.

A supporting statement says, prior to being a GP surgery, the two storey element was a single dwelling house.
It adds: “The house would consist of an open plan kitchen-living space to the ground floor, along with a study, lounge and utility room. The first floor includes four double bedrooms with ensuite and main bathroom.
“The new unit of accommodation would form a holiday-let with two double bedrooms, shower room, and an open plan kitchen-living space.
“The GP surgery is currently vacant, following its closure in October 2024 after new partners could not be secured, therefore the proposed change of use will provide a viable long-term future use for the property.”
It says minimal external alterations are proposed to the property with existing entrances utilised for both the main house and holiday-let, adding: “The existing concrete ramp to the front elevation will be retained with proposed works including extending the upper level and steps to provide a connection to the front door, allowing for accessible entrance to the property.
“There will be no changes to vehicular or pedestrian access, with the site continuing to be accessed via the existing entrance from New Street. Parking will be provided for the main house and holiday-let on the existing tarmac driveway off New Street.”
The application will be considered by Park planners at a later date.
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