Sir Terry Matthews is Wales' second richest
11:00am Saturday 17th May 2014 in News
NEWBRIDGE'S Sir Terry Matthews remains Wales' second richest man, according to The Sunday Times Rich List.
The owner of the Celtic Manor Resort is one of two Welsh billionaires, the other being Sir Michael Moritz, who is the richest person in Wales.
Sir Terry Matthews remains in second place on the Welsh Rich List and is worth £1,190m, a gain of £68m in the past 12 months.
Matthews, 70, made his fortune in Canada, picking up £1billion from the sale of his Newbridge Networks computing business. He now wants to build a convention centre at Celtic Manor and, through his Celtic House International company, invests in high-tech start-up businesses.
Successful internet investments have made the fortune of the Cardiff-born American citizen Sir Michael Moritz.
He is the leading partner at Sequoia Capital, an American venture capital firm. Two key internet flotations of recent years made his name.
First, an £8m stake taken in the early days of Google turned into $6.3billion after it was floated; and, second, Moritz repeated the trick with LinkedIn, where an initial investment of £2.85m rose to £912m at the time of its 2011 float.
In the past year, Moritz’s wealth has soared by 50% (or £563m) to stand at £1.688billion. With his novelist wife Harriet Heyman he has recently given £18.2m to the University of California, San Francisco, to fund biomedical research PhD programmes.
The Cwmbran-born boss of Newport-based Gocompare.com Hayley Parsons just makes it into the top twenty, as the joint 19th wealthiest person in Wales. She is worth £120m and slips from the 17th position she held last year.
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