Three Welsh billionaires on Sunday Times Rich List

Sir Michael Moritz is chairman of the US-based venture capital firm, Sequoia Capital

Wales has three billionaires, with Cardiff-born Sir Michael Moritz the wealthiest, according to the Sunday Times Rich List.

Sir Michael, who made his fortune investing in firms including Google, PayPal and Yahoo, is now worth £1.75bn.

He is joined by two others in the Welsh billionaires club - Specsavers co-founder Douglas Perkins and Celtic Manor owner Sir Terry Matthews.

It is the first time Wales has had three billionaires since 2011.

Doug and Dame Mary Perkins, the founders of Specsavers, met while studying in Cardiff

Mr Perkins, who was born in Llanelli, Carmarthenshire, and grew-up in Ammanford, built up Specsavers with his Bristol-born wife Dame Mary, who he met while studying optometry at Cardiff University.

The company's 61% increase in wealth is one of the biggest in this year's rich list, giving Mr Perkins and his family a fortune of £1.4bn.

The family has overtaken telecoms and computers entrepreneur Sir Terry on the Welsh rich list, who is now third after his wealth dropped by £150m this year to £1.04bn.

Closing in on billionaire status is Simon Nixon, up another £135m this year to £945m.

He made his money from Moneysupermarket.com which he founded with Duncan Cameron after dropping out of university.

Britain's richest man is Warner Music owner Len Blavatnik with a £13.17bn fortune, according to the list.

Sir Terry Matthews brought the Ryder Cup to Wales when it was held at his Celtic Manor Resort

The Sunday Times Rich List for Wales

1. Sir Michael Moritz - £1.75bn

2. Douglas Perkins and family - £1.4bn

3. Sir Terry Matthews - £1.04bn

4. Simon Nixon - £945m

5. David Sullivan - £850m

6. Steve Morgan - £740m

7. Henry Engelhardt and family - £590m

8. John Deer - £359m

9. Lord Heseltine and family - £280m

10. Lawrence Jones and family - £247m