New Channel Island billionaire on the Sunday Times Rich List

New billionaire Mr Nixon also runs a luxury holiday homes business called Simon Escapes

The Jersey resident and co-founder of Moneysupermarket.com, Simon Nixon, has become a billionaire according to the Sunday Times Rich List.

Mr Nixon joined the billionaire list after selling the last of his shares for the price comparison website.

The Channel Islands have five billionaires, with the Barclay brothers still the wealthiest.

Sir David and Sir Frederick Barclay are valued at £7bn, which has risen by £500m.

The 81-year-old brothers last year sold their stake in a group of luxury London hotels.

Sir David Barclay (left) and Sir Frederick, who are twins, were both knighted in 2000

They are based in Monaco, and own the island of Brecqhou near to Sark, as well as owning the Ritz in London.

Sir David and Sir Frederick have closed their Sark hotels for the foreseeable future but continue to maintain interests in the islands.

Optical sales up for Guernsey-based Specsavers

They also own the Telegraph Media Group, which made £54m profit last year.

Retail magnates Sir Philip and Lady Green, in second place, appear in the Channel Island list because their Taveta business, which owns Arcadia, is based in Jersey.

The couple's wealth is down £280m to £3.22bn.

Douglas and Dame Mary Perkins live in Guernsey and their optical business is based in the island

There are two other Channel Island billionaires whose wealth has increased over the past year.

Specsavers founders, Douglas and Dame Mary Perkins, who are based in Guernsey, saw their fortune go up by £100m.

Guernsey-based Steve Lansdown, whose wealth comes from financial services, has seen his wealth rise by £107m to £1.4bn.

The Sunday Times' Channel Island Rich List 2016

1. Sir David and Sir Frederick Barclay (Brecqhou) - £7bn

2. Sir Philip and Lady Green (Jersey) - £3.22bn

3. Douglas and Dame Mary Perkins and family (Guernsey) - £1.55bn

4. Steve Lansdown (Guernsey) - £1.4bn

5. Simon Nixon (Jersey) - £1.026bn

6. Douw Steyn and family (Guernsey) - £700m

7. The Clarke family (Jersey) - £500m

8. Tony Buckingham (Jersey) - £425m

9. Graham Tuckwell (Jersey) - £273m

10. Guy and Julia Hands (Guernsey) - £260m

11. James Vernon (Jersey) - £250m

12. David Crossland and family (Jersey) - £200m

13. Derek Coates (Guernsey) - £190m

14. Ronnie Frost (Guernsey) - £160m

15. Gordon Crawford (Jersey) - £122m

16 = Brian de Zille and family (Jersey) - £120m

16 = Con Folkes and family (Jersey) - £120m

18 = Roger Baines and family (Guernsey) - £110m

18 = Nigel Jagger and family (Jersey) - £110m