16-05-2025
The only person in Wales under 40 to make the Sunday Times Rich List
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.
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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)
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2025 wealth: £262m
