WALES' richest man, Gwent born Sir Terry Matthews has lost his billionaire status, according to the annual Sunday Times Rich List.
Sir Terry, 64, owner of the Celtic Manor, is ranked 79 in the 2008 poll with an estimated £950 million fortune, down on his £1.1 billion in 2007.
He has made much of his money in Canada where he set up telecommunications company Mitel before selling it to British Telecoms, he later made £600 million in 2000 when he sold Newbridge Networks to Alcatel.
Ian Coxon, who edited the list, said Sir Terry fortune has decreased due to falling share prices he had invested in.
"We've revalued quite a few people depending on the industry their in because of the current prevailing economy," he said.
Sir Terry was born in the Lydia Beynon home which he bought and transformed into the Celtic Manor Resort. £125 million worth of investment later, the Gwent grounds are set to host the 2010 Ryder Cup.
Mr Coxon said investing in bringing the Ryder Cup to Wales could also have accounted for the decrease in wealth.
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