The richest people in Wales have been named.

The Sunday Times Rich List named Sir Michael Moritz and Harriet Heyman, as the richest people in Wales.

Despite stepping away from US investment house Sequoia Capital, Sir Moritz saw his wealth increase by £1.27 billion this year.

The philanthropic couple donated more than four per cent of their wealth to charitable causes, earning them a spot in the top 10 most charitable in the UK.

Born in Cardiff, Sir Moritz amassed his wealth through pioneering investments into tech giants such as Google, PayPal, and YouTube.

His comprehensive wealth sums up to £4.603 billion.

The Rich List compiler, Robert Watts said: "This year’s Sunday Times Rich List suggests Britain’s billionaire boom has come to an end.

"Many of our home-grown entrepreneurs have seen their fortunes fall and some of the global super rich who came here are moving away.

"Thousands of British livelihoods rely on the super-rich to some extent.

"We’ll have to wait and see whether we have now reached peak billionaire and what that means for our economy."

Also on the list are Welsh businessman Douglas Perkins and his wife, Dame Mary Perkins, whose fortune saw an uptick of £21 million, concurrent to their company Specsavers opening its 1,000th store.

In a surprise reveal, Alex Lovén, founder of Net World Sports, has been named the wealthiest young person in Wales.

After saving £13,000 from shifts at a builder’s merchant, Lovén embarked on his business venture, which now sells over 100,000 football goals each year, more than any other in the UK.

At age 36, Lovén's total wealth stands at £200 million, making him the 15th richest person under 40 in the UK.

Other notable names included are Cardiff-born footballer Gareth Bale and AU Vodka Founder, Charlie Morgan, flourishing as two of the wealthiest young individuals in Wales aged below 40.

Despite the fluctuating fortunes of some, Robert Watts added: "These may be harder times to create wealth, but the Sunday Times Rich List continues to unearth entrepreneurs building fortunes in diverse and often surprising ways.

"This year’s new entries include people who have made money from artificial intelligence and virtual worlds as well as plumbing supplies and teaching aids.

"We know many of our readers find such people — especially those from humbler backgrounds — very inspiring."