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Alex Lovén named richest young person in Wales

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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

  1. Sir Michael Moritz and Harriet Heyman – £4.603 billion
  2. Simon Nixon – £1.88 billion
  3. Douglas and Dame Mary Perkins – £1.587 billion
  4. Sir Terry Matthews – £1.340 billion
  5. 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

Calls for award-winning Pembrokeshire sauna to be permanent

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CALLS to allow the permanent siting of an award-winning Pembrokeshire seaside village outdoor sauna, which has been featured in the national press, have been submitted to the national park.

Back in June 2024, a temporary two-year permission for a mobile wood-fired sauna at Saundersfoot harbour was granted by Pembrokeshire Coast National Park’s development management committee.

Since then, a further application by Kerry Evans of Hwyl Outdoor Sauna to make the siting permanent has been submitted to national park planners.

A supporting statement says, since its introduction the sauna has “become a popular and valued amenity for both residents and visitors, offering a space focussed on health, wellbeing and community connection”.

It went on to say: “The overall sentiment within the village has been strongly supportive, with many residents recognising the sauna as a valuable asset that enhances the amenities in Saundersfoot,” adding: “Hwyl Outdoor Sauna has received positive attention in regional and national press helping to promote Saundersfoot as a destination for coastal wellbeing and outdoor experiences.

“Media coverage has highlighted the sauna as an example of the increasing popularity of sea swimming and sauna culture around the UK coastline.

“Hwyl Outdoor Sauna has been featured in two books on the best saunas in the UK.

“The business has also been recognised through tourism and hospitality awards, further demonstrating the quality of the experience provided and the positive contribution it makes to the local visitor offer.”

Back in February, the business, set up by former superyacht worker and mum-of-two Kerry won Sauna of the Year 2026/27 at the Wales Prestige Awards.

At the time Kerry said: “I could not be more proud of what I have achieved with Hwyl. I am so grateful to my wonderful team, who have made this journey not only possible but genuinely so much fun.”

Kerry ploughed a legacy from her beloved late father into the venture of a Pembrokeshire seafront sauna.

The application for allowing the sauna to be permanent added: “Through the Welsh Government I have been able to secure the funds to install a cold-water shower on Saundersfoot Harbour, which will be open year-round. This will be achieved via Hywel Outdoor Sauna and a weather proofing fund, from the Welsh Government. This facility has also a GoFundMe to raise the remaining costs.”

It concludes: “Hwyl Outdoor Sauna has established itself as a valued wellbeing facility that benefits both residents and visitors. It enhances the amenities available in Saundersfoot, supports the local economy by encouraging additional visitor activity, and contributes positively to the community through charitable support and engagement.

“The permanent siting of the sauna would allow this successful local small business to continue operating and provide these benefits to the village in a stable and sustainable way.”

The application for a permanent facility will be considered by park planners at a later date.

 

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Business

Welsh Fed members engage with Labour candidate on key retail issues ahead of election

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FIONA and Vince Malone, owners of Tenby Stores, in Pembrokeshire, West Wales, and members of the Federation of Independent Retailers (the Fed), met with Marc Tierney, Welsh Labour candidate for Ceredigion Penfro and Pembrokeshire County Councillor in the upcoming Senedd elections on May 7.

The meeting on Saturday, February 28, focused on the critical challenges facing independent retailers and followed the publication of the Fed’s manifesto for the Welsh election.

Key issues addressed during the meeting included the impact of rising business rates bills on small shops, as well as the significant social and economic value that post offices and convenience stores offer to their neighbourhoods. The Malones highlighted the rising costs resulting from above-inflation increases in the national minimum wage and higher National Insurance Contributions (NICs) that have placed further financial strain on independent businesses such as theirs, and others across Wales and the rest of the UK.

The importance of post offices in providing essential banking facilities was emphasised, underscoring their role in sustaining local economies through their range of services including postal and banking as well as government services such as vehicle tax renewal and passport applications.

Additionally, the conversation touched on the pressing issue of retail crime. The Malones showed how they had taken steps to reduce this problem, including the implementation of extensive CCTV coverage and the utilisation of AI technology, but that the threat remained.

With the introduction of the deposit return scheme (DRS) in Wales on the horizon, the Malones expressed their support for initiatives aimed at improving recycling rates. However, they raised concerns regarding the inclusion of glass in the scheme in Wales, highlighting that it would be difficult for small shops to implement because of the dangers associated with broken glass and weight involved in moving it.

Vince Malone said: “I want to thank Marc again for his visit and discussing these important issues and for his clear interest. Fiona and I remain committed to advocating for the interests of small shops – as members of the Federation of Independent Retailers – working with all parties at the Senedd ahead of May’s election and beyond.”

Marc Tierney said: “Vince and Fiona are active retailers, who go the extra mile for their community and are well known for their advocacy for the independent retail sector, not just in Wales but across the UK. My visit highlighted the importance of their postal service, banking hub and convenience shop. Providing these services under one roof is exactly the type of model that can sustain services in our rural, coastal communities. I look forward to working with them in the run-up to the election and beyond.”

 

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Welsh brewing sector secures funding for advanced brewer training

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THE WELSH brewing industry is set for a major boost after funding was secured to roll out a new Level 4 Brewing Diploma across Wales.

The Welsh Government Drinks Cluster, working in partnership with FDQ and Medr Cymru, has backed the advanced qualification, which is aimed at developing highly skilled brewers and strengthening the industry’s long-term competitiveness.

Welcoming the move, Deputy First Minister and Cabinet Secretary for Climate Change and Rural Affairs Huw Irranca-Davies said the qualification would help secure the future of the sector.

He said: “The brewing sector forms an important part of Wales’ food and drink landscape, contributing to local economies, skills and innovation. Welsh breweries continue to demonstrate ambition, innovation and a commitment to quality, and this new qualification will give them the tools they need to keep building on that success.

“By supporting the introduction of the Level 4 Brewing Diploma, we are investing directly in the future of the industry, ensuring brewers can access the high-level technical training required to thrive in an increasingly competitive market.

“This training will help secure long-term growth, enhance skills across the sector, and further strengthen Wales’ reputation for producing exceptional beer. It is a significant and very welcome step forward for brewing in Wales.”

The diploma has been developed by FDQ, a specialist awarding organisation for the food and drink industry. The body provides accredited qualifications, apprenticeship assessments and training solutions, and is the only organisation in the UK with dedicated brewing apprenticeship expertise.

The Level 4 Brewing Diploma is the first advanced brewing qualification of its kind to be delivered through an awarding organisation operating in both Wales and England.

It has been designed to give learners a deeper understanding of brewing operations, quality control, process optimisation and technical decision-making. The course is intended for those already working in the brewing sector, as well as learners seeking advanced professional skills that meet industry standards and employer expectations.

To make sure the qualification reflected the needs of the Welsh brewing industry, a working group was formed involving five breweries of different sizes and production styles. Those involved were Felinfoel Brewery, Monty’s Brewery, Magic Dragon Brewery, Purple Moose Brewery and Wild Horse Brewing Co.

The group brought together a broad range of experience, from long-established family breweries to fast-growing modern craft producers.

Monty’s Brewery, a mid Wales craft brewery known for its award-winning ales, was among those involved in shaping the diploma.

Director Pamela Honeyman said: “We’re proud to have contributed to the development of this diploma. Access to advanced technical training is essential for driving quality, efficiency and innovation, and the Level 4 Brewing Diploma will give our team the opportunity to develop new skills and progress within the industry. It’s a hugely positive development for Welsh brewing.”

Llandudno-based Wild Horse Brewing Co, known for its modern and flavour-driven beers, also took part in the working group.

Managing director Dave Faragher said: “Being part of the working group has ensured the diploma reflects the realities of modern brewing. The opportunity for Welsh brewers to benefit from industry-led, practical and technical training is incredibly valuable. We’re delighted to have helped shape it and look forward to seeing the impact across the sector.”

The new qualification is intended to help tackle skills gaps and support employers looking to develop talent from within their businesses.

The diploma is now live, and Welsh brewers can apply immediately. The programme is open to breweries across Wales, with applicants able to apply for both a place on the diploma and funding support.

Matthew Bell, Head of Engagement at FDQ, said: “The launch of the Level 4 Brewing Diploma represents a significant advancement for skills development within the Welsh brewing industry. It has been designed by the industry to equip learners with the higher-level technical knowledge and practical competence required for roles such as head brewer and production lead, integrating comprehensive brewing science, operations management and sustainability principles into a regulated, workplace-focused framework.

“This diploma supports apprentices at a pivotal stage in their career, fostering both industry expertise and long-term professional progression.”

If you want, I can also turn this into a more Herald-style version with a stronger intro and tighter quotes.

 

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