These are the richest people in North Wales in 2020 – Daily Post

The Welsh Rich List has been released with five business people from North Wakes in the top 20.

According to the new edition ofThe Sunday Times Rich List, Moneysupermarket founder Simon Nixon remains the wealthiest individual in North Wales with a 1.35bn fortune - down 15m on last year.

He made 700m selling shares in the price comparison website and has 310m of property, including SimonEscapes holiday rentals from Barbados to Cornwall, and 500m of other investments.

It makes him the third richest person in Wales.

Redrow founder Steve Morgan is next - and seventh overall - with 751m in investments and cash in the bank, down 199m on 2019.

He has been prominent in the charitable efforts to mitigate the worst effects of the coronavirus - pledging 1m a week for the 12 weeks following the start of lockdown to charities helping the most vulnerable sectors of society cope with the impacts of coronavirus.

At eighth on the overall list are Lawrence and Gail Jones.

Growing up in a council house in Denbigh, Lawrence's entrepreneurial career began at school when he started buying sweets and selling them to the other children for a profit.

In 1999 he set up cloud hosting company UKFast, based in Manchester. He also has investments in North Wales and a home in Snowdonia, and the couple are worth 700m.

Iceland Foods founder Malcolm Walker and family are 12th on the list - with a 265m fortune.

Mark Watkin Jones and family are the last millionaires from North Wales on the list of 20.

The Watkin Jones Group was founded in Bangor in 1791 by carpenter, Huw Jones. The company turned from carpentry to construction and set the business on a successful path.

The reins were passed to Mark Watkin Jones in 2003 - the ninth generation of his family at the helm.

He stepped down last year and is now pursuing other business interests.

The family retain a stake in the business, which focuses on the development of student halls.

Across Wales tech investor Sir Michael Moritz remains the richest man in Wales.

Moritz stepped down from running theSilicon Valley-based Sequoia Capital in 2012 due to illness.

His track record for consistently finding the next tech blockbuster at an early stage has earned billions for his investors and led to claims that he is the best venture capitalist in the US.

Moritz is now worth around 3.047bn. The Cardiff born investor made an early investment of 8m in Google, which peaked at 6.3bn. He also funded WhatsApp, which was taken over by Facebook for 22bn.

Robert Watts, the compiler of The Sunday Times Rich List, said: " The majority of Wales super-rich have seen their fortunes either fall or flatline since last year. Their falling wealth mirrors the damage being done to our economy and casts doubt on just how quickly growth will return when lockdown ends.

You may not like the super-rich, but it is hard to deny that our economy will need the jobs they create and the taxes they and their companies pay if we are to escape a prolonged recession that causes further misery to millions.

There are still grounds for optimism in the pages of todays Sunday Times Rich List, with countless examples of entrepreneurs who came from modest backgrounds to build successful businesses - often amid the economic downturns of the past.

"Those stories have the power to energise the next generation of entrepreneurs.

The Sunday Times Rich List will be published this Sunday, May 17.The 136-page special edition of The Sunday Times Magazine reveals the wealth of the 1,000 richest people in Britain in its 32ndannual edition.

It will be online on thesundaytimes.co.uk/richlist

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These are the richest people in North Wales in 2020 - Daily Post

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