The only person in Wales under 40 to make the Sunday Times Rich List
The list has revealed the richest people across the UK under 40, and only one Welsh person made the cut
Alex Loven, founder and CEO of Net World Sports on Wrexham industrial estate
(Image: Daily Post Wales )
One man has been identified as the richest person in Wales under the age of 40 and the 18th richest person under 40 in the UK. The millionaire was named in this year's edition of The Sunday Times Rich List which was published online today - Friday, May 16.
The Rich List is published each year ranking the 350 wealthiest people in the UK and has been printed in a special edition of The Sunday Times Magazine for 37 years.
Since the list's peak of 177 billionaires recorded in the UK in 2022, the number has since dwindled each year to now 156 named in 2025, the sharpest decline yet.
Not only has the number of billionaires dropped but the combined wealth of the people named on the list has reduced by three percent to £772.8 billion. For our free daily briefing on the biggest issues facing the nation, sign up to the Wales Matters newsletter here
The survey is based on wealth including land, property, other assets such as art and racehorses, or significant shares in publicly-quoted companies and excludes bank accounts, which the Sunday Times does not have access to.
To get a spot on the list you must have a minimum wealth of £350 million with famous names such as Sir Elton John, Lord Lloyd-Webber, Sir Mick Jagger, Keith Richards, Euan Blair, Sir Lewis Hamilton.
Article continues below
Holding their spot at the top of the list for the wealthiest people in Wales overall are are venture capitalist Sir Michael Moritz and his American novelist wife Harriet Heyman.
Last year three Welsh men were named amongst the richest people in the UK under the age of 40 however this year only one person has held their spot. Both footballer Gareth Bale and founder of Au Vodka, Charlie Morgan are not wealthy enough to make The Sunday Times Rich List 2025.
Alex Loven, managing director at Net World Sports in Wrexham
The richest person in Wales under 40 is founder and CEO of Net World Sports, Alex Lovén.
The 37-year-old founder and managing director of Net World Sports, is based in Wrexham where his factory creates the sports equipment that supplies Fifa and Uefa.
Starting his career at a builder's merchant the young millionaire said he was once the "poorest person" in his school.
He eventually saved £13,000 from his work at the merchants to start his successful business where is now said to have wealth of £262m which is £62m more than his total last year.
40 under 40 rank: 18th
Source of wealth: Retail (Net World Sports)
Article continues below
2025 wealth: £262m
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Mail
an hour ago
- Daily Mail
Trump's FCC approves $8 billion Paramount merger with Skydance after CBS cancels Colbert
President Donald Trump 's Federal Communications Commission has approved a merger between Paramount and Skydance after CBS capitulated and canceled The Late Show with Stephen Colbert. The merger clears the way for an $8.4 billion sale of some of the most prominent names in entertainment, including the CBS broadcast television network, Paramount Pictures, and the Nickelodeon cable channel. The agreement comes after Paramount paid $16 million to settle a lawsuit filed by Trump over a '60 Minutes' interview with former Vice President Kamala Harris that aired in October. FCC Chairman Brendan Carr has said the agency's review of the proposed merger was not connected to the lawsuit. But it is also just days after Paramount wielded the axe against Colbert, sparking uproar within the entertainment industry and questions over whether Trump was involved in the decision. Last Thursday, CBS announced that the comedian's decade-long run as the host of CBS' late night flagship will end next May. The cancellation was revealed two days after Colbert used the term 'big fat bribe' to describe Paramount's $16million settlement with President Trump. Colbert gained a reputation as one of Trump's fiercest critics, departing from the traditional late-night in favor of a more overtly partisan approach. Following the announcement of The Late Show's cancellation, Trump took to Truth Social on Friday to gloat over the news in a celebratory post. 'I absolutely love that Colbert got fired. His talent was even less than his ratings,' he wrote. Approval for the merger came after Skydance and its investment partner, RedBird Capital, assured the FCC of their commitment to unbiased journalism that represents diverse viewpoints. Skydance said it would appoint an ombudsman to evaluate complaints of editorial bias or other concerns about CBS in an effort to promote transparency and increased accountability. Paramount also eliminated its diversity, equity, and inclusion initiatives to align with the new administration's view that such affirmative action policies are discriminatory. Carr said he welcomed 'Skydance's commitment to make significant changes at the once storied CBS broadcast network. 'In particular, Skydance has made written commitments to ensure that the new company's programming embodies a diversity of viewpoints from across the political and ideological spectrum.' Carr also hailed what he called a victory in 'the FCC's efforts to eliminate invidious forms of DEI discrimination.' The FCC voted 2-1 to approve the deal, with Democratic FCC Commissioner Anna Gomez dissenting. 'After months of cowardly capitulation to this Administration, Paramount finally got what it wanted. Unfortunately, it is the American public who will ultimately pay the price for its actions,' she said. She added 'in an unprecedented move, this once-independent FCC used its vast power to pressure Paramount to broker a private legal settlement and further erode press freedom. 'Even more alarming, it is now imposing never-before-seen controls over newsroom decisions and editorial judgment, in direct violation of the First Amendment and the law.' Skydance CEO David Ellison, son of Oracle co-founder Larry Ellison, is poised to become chairman and chief executive of the new Paramount. Jeff Shell, former chief executive of Comcast's NBCUniversal, will be its new president.
North Wales Chronicle
2 hours ago
- North Wales Chronicle
Trump to land in Scotland on Friday for start of five-day private trip
The US president is expected to arrive at Prestwick Airport in the evening, before heading over to his Turnberry golf course in South Ayrshire. He is then expected to head over to his Menie golf course in Aberdeenshire before opening up a new course dedicated to his Scottish mother, who grew up on the Isle of Lewis. He will leave the country at some point on Tuesday. His presence will result in a significant operation from Police Scotland and thousands of officers, who are expected to deal with mass protests around his golf courses and major Scottish cities. Mr Trump will be greeted by Scottish Secretary Ian Murray when he lands, with the minister pledging to give the American leader a 'warm welcome'. He will meet with Prime Minister Sir Keir Starmer during his stay when the pair will discuss the UK-US trade deal. The US president will also meet with First Minister John Swinney. The SNP leader previously said he would have the opportunity to raise various issues with Mr Trump, including tariffs, Gaza and Ukraine. Speaking ahead of his arrival, Mr Swinney said the global attention the visit will receive provides Scotland with an opportunity to respectfully demonstrate the principles of freedom and justice for all, while also promoting Scotland's tourism sector and economic investment potential. He said: 'Scotland shares a strong friendship with the United States that goes back centuries. 'That partnership remains steadfast through economic, cultural and ancestral links – including of course, with the President himself. 'As we welcome the President of the United States, Scotland will be showcased on the world stage. 'This provides Scotland with a platform to make its voice heard on the issues that matter, including war and peace, justice and democracy. 'It also includes the millions of Americans – many of them potential future tourists or investors in Scotland – who will watch their elected President as he visits our country. 'As First Minister it is my responsibility to advance our interests, raise global and humanitarian issues of significant importance, including the unimaginable suffering we are witnessing in Gaza, and ensure Scotland's voice is heard at the highest levels of government across the world. 'That is exactly what I will do when I meet with President Trump during his time in Scotland.' The SNP leader said Scotland is a 'proud democratic nation' that 'stands firm on the principles of equality and freedom for all, and a society that stands up for a fair and just world'. Ahead of protests expected around Scotland, he said people had a right to 'peaceful demonstration', adding that 'everyone has the democratic right to protect and express their views in a peaceful, and democratic manner'. 'That is right and proper,' he added. 'I am confident the vast majority of people protesting will do Scotland proud and demonstrate as they should – peacefully and lawfully. 'I am also confident that Scotland's police service can handle the challenge of keeping all our communities safe and, as they must, in maintaining the appropriate security any US President requires. 'This weekend is a landmark moment in our relationship with the United States, and I am certain it will be remembered for Scotland showing the world the very best of itself.'
Reuters
2 hours ago
- Reuters
Trump says Australia has agreed to accept American beef
WASHINGTON, July 24 (Reuters) - Australia has agreed to open its market to U.S. beef, President Donald Trump said on Thursday, after the U.S. ally eased restrictions on imports that had angered the American leader. The Trump administration hailed the deal, announced by Australia earlier on Thursday, as a win even as analysts said the step was unlikely to significantly boost U.S. shipments because beef prices are much lower in Australia. "The other Countries that refuse our magnificent Beef are ON NOTICE," Trump said in a post on Truth Social on Thursday. Since returning to the White House in January, Trump has attempted to renegotiate trade deals with multiple countries who he asserts have taken advantage of the United States over the years. Many economists have disputed Trump's characterization. Australia Agriculture Minister Julie Collins said earlier on Thursday that a "rigorous science and risk-based assessment" had concluded that U.S. measures to monitor and control the movement of cattle meant biosecurity risks that Australia was previously concerned about were being effectively managed. Meat from animals born, raised and slaughtered in the U.S. has been allowed into Australia since 2019. But few suppliers were able to prove their animals had been only in the U.S., because cattle frequently moved between the U.S., Canada and Mexico without being adequately tracked. U.S. Trade Representative Jamieson Greer said in a statement welcoming the move that Australia had imposed "unjustified barriers" on U.S. beef that were now being lifted. "American farmers and ranchers produce the safest, healthiest beef in the world. It's absurd that non-scientific trade barriers prevented our beef from being sold to consumers in Australia for the last 20 years," Agriculture Secretary Brooke Rollins said in the same statement. The U.S. has been improving its ability to monitor animals' movements to limit the spread of avian influenza and the New World screwworm, a parasite that eats cattle alive. Recognizing those improvements, Australia will now also accept beef sourced from cattle born in Canada or Mexico and legally imported and slaughtered in the U.S., the Australian agriculture ministry said. Australian firms will be able to apply for import permits from July 28, it added.
