Newport-born billionaire, Sir Terry Matthews has been named one of the richest men in Wales for 2023.

Similar to 2022, Sir Terry, took the number four spot in the top five wealthiest people in Wales part of the Sunday Times Rich List released today.

His 2023 wealth is estimated to be £1.333 billion having grown £103 million pounds in the past 12 months. 

According to the Sunday Times, the main source of Sir Terry's wealth has come from telecom company MItel.

He also owns five-star Celtic Manor Resort, which hosted the 2010 Ryder Cup and welcomed world leaders including President Barack Obama for the 2014 Nato summit.

South Wales Argus: The top 5 richest people in Wales for 2023 have been revealed.The top 5 richest people in Wales for 2023 have been revealed. (Image: PA)

Venture capitalist, philanthropist, and former journalist Sir Michael Moritz and his wife, American author, Harriet Heyman are the richest people in Wales, topping the list for another year.

Sir Michael, who hails from Cardiff, and his wife have an estimated wealth of £3.333bn obtained through savvy investment in successful internet businesses including Sequoia. 

Despite still topping the list of richest people in Wales, the par have seen a £667bn drop in wealth over the past 12 months according to te Sunday Times. 

Llanelli-born Douglas Perkins and wife Dame Mary Perkins (Bristol) who started Specsavers from their spare bedroom, is this year’s highest climber in the region.

Their combined wealth is estimated at £1.566 billion - up £236 million earning them number three on the list of wealthiest people in Wales.

David Sullivan, from Cardiff, is the fifth wealthiest person in Wales with £1.118bn.

His main source of wealth has come from Property, football and media says the Sunday Times.

Gareth Bale and AU Vodka owners among the richest people in the UK under 35

South Wales Argus: Gareth Bale was named among the richest people in the UK under 35.Gareth Bale was named among the richest people in the UK under 35. (Image: Press Association)

Gareth Bale, who also hails from Cardiff has been named one of the richest people in the UK under 35 by The Sunday Times.

Bale’s £70 million pound fortune stems from his 17-year football career, which saw him play for teams including Real Madrid, Tottenham and Wales.

Owners of AU Vodka, Charlie Morgan and Jackson Quinn, who are from Swansea are also among the richest individuals in the UK under 35.

The 5 wealthiest people in Wales

According to the Sunday Times Rich List, the top five wealthiest people in Wales are:

  1. Sir Michael Moritz and Harriet Heyman - £3.333bn
  2. Simon Nixon - £1.825bn
  3. Douglas and Dame Mary Perkins and family - £1.566bn
  4. Sir Terry Matthews - £1.333bn
  5. David Sullivan and family - £1.118bn

South Wales Argus: David Sullivan (left) is the fifth wealthiest man in Wales according to The Sunday Times.David Sullivan (left) is the fifth wealthiest man in Wales according to The Sunday Times. (Image: PA)

Number of billionaires in the UK falls for the first time in 14 years

There are 171 billionaires in the UK recorded this year, down 6 from 2022, the first fall for 14 years.

Overall, the richest 350 in the UK this year are worth £796.459 billion. 

Compiler of the Sunday Times Rich List, Robert Watts, said: "This year's Sunday Times Rich List shows a golden period for the super rich is over.

"For the first time in 14 years we've seen the number of UK billionaires fall.  

"This is not a crash - but there are household names who have lost vast sums over the past year.

"The bursting of the tech bubble, the end of rock bottom interests and the jitters creeping through the banking industry have all taken their toll.  

“The super rich don't exist in a vacuum."