NOTABLE families such as the Lyons and Anwyl, along with Lord Mostyn, and Mario and Gill Kreft, have been named among the wealthiest individuals in Wales.
The Rich List 2025 has been published by Wales Business Insider.
The combined fortunes of Wales’s 50 wealthiest individuals and families is now calculated at £10.5bn in this year’s Rich List - up 3.4 per cent on a year ago.
North Wales individuals and families on the list include:
Steve Morgan - 3 in Wales.
2025: £1bn | 2024: £986m
Redrow
North Wales' Steve Morgan, who moved to Colwyn Bay when he was 13 and attended Ysgol Eirias before moving to John Bright and getting expelled, owns shares worth £216.2m in Barratt Redrow, the merger of two of the biggest names in British housebuilding.
His investment company houses a private jet business and he has a stake in North Wales housebuilder Castle Green Homes.
In 2025, the philanthropist opened Maggie's North Wales at Glan Clwyd Hospital. The Steve Morgan Foundation provided £4 million to build the centre.
Sir Malcolm Walker and family - 6 in Wales
2025: £424m | 2024: £417m
Iceland
Sir Malcolm Walker sold frozen food as a side hustle while working for Woolworths. He later turned his part-time gig into one of the UK’s largest supermarket chains - Iceland.
The famous frozen food outlet store started life in Leg Street, Oswestry, before founder Sir Malcolm expanded his empire all over the country, with the current headquarters in Deeside.
He and his family still have a nearly 60 per cent interest in the £707.3m chain.
Mark Watkin Jones and family - 8 in Wales
2025: £333m | 2024: £279m
Watkin Property Ventures
Watkin Jones’ first family business was founded in Bangor, North Wales in 1791, initially in carpentry before expanding into building and construction. Under Watkin Jones plc, the company helped shape the area, including laying the first stone of Bangor University College Buildings. It entered residential building in the 1920s and launched a new homes division in the 1990s.
The company completed its first student accommodation project in 1999 and, after the 2008 financial crisis, grew from a regional developer into a national student accommodation provider, floating on the London Stock Exchange in 2016. The Watkin Jones family exited the businesses in 2018 to focus on Watkin Property Ventures but remain minority shareholders.
Watkin Jones led the flotation of the family’s housebuilding firm.
Four of his private property companies show gains of £54m over the past year.
Tarsem Dhaliwal - 10 in Wales.
2025: £292m | 2024: £294m
Iceland
Tarsem Dhaliwal is chief executive of the Iceland supermarket chain, writes Wales Business Insider.
Mr Dhaliwal, from Mold, was appointed Group CEO of Iceland in 2018, after a year as Group Managing Director and 12 prior years as Group Finance Director.
He left Iceland in 2001 and re-joined in 2005, following the takeover and break-up of the Big Food Group, as Finance Director and a leading member of the management shareholding team.
Over the next seven years, Mr Dhaliwal and his senior colleagues achieved one of the most remarkable turnarounds in UK corporate history, delivering seven consecutive years of strong like-for-like sales and profit growth that transformed a loss-making business in 2005 into one generating a record EBITDA of £230m by 2012.
Mr Dhaliwal owns 41.3 per cent of the £707.3m Deeside-based group’s shares.
Alex Lovén - 13 in Wales
2025: £230m | 2024: £200m
Net World Sports
Profits at Net World Sports jumped by 27 per cent to £17.7m on record sales of £82.1m in 2024.
Wrexham entrepreneur Alex Lovén now employs more than 250 people and the company is thought to be the UK’s largest supplier of goalposts. He has grown a sizeable property empire on the side.
Mr Lovén set up Net World at aged 22 from his parents’ family home in 2009, having only his dad for assistance in packing and shipping customer orders.
The company has since become a global e-commerce business focused on becoming the largest online sports equipment retailer in the world.
Robin Jones and family - 17 in Wales
2025: £160m | 2024: £160m
Jones’ Village Bakery
In December 2025, Jones' Village Bakery in Wrexham received the King’s Award for Enterprise in recognition of its export success, which has created 100 new jobs.
The award was presented by the King’s representative in Clwyd, Lord Lieutenant Harry Fetherstonhaugh, during his visit to the company’s headquarters.
Last year Mr Jones, who has stepped down from running the Wrexham-based bread, scone and bagel maker, sold his Village Bakery company – which supplies M&S – to a French food group for a reported £160m.
John Williams and family - 20 in Wales
2025: £139m | 2024: £126m
Ifor Williams Trailers
Williams’s Corwen-based trailer manufacturer has grown annual turnover to almost £100m, delivering profits of £12.9m.
The company has five manufacturing sites in Denbighshire and Deeside.
The manufacturer was established in 1958 and to date has manufactured over half a million trailers.
Early in January, Clwyd South MS and Welsh Government Transport Minister Ken Skates visited Ifor Williams Trailers to mark the UK launch of the new Tow-Max range that was originally rolled out in Scandinavia.
The Tow-Max range offers lightweight flatbed trailers that can carry high payloads even for vehicles with limited towing capacity, including electric cars that often struggle with traditional 3.5 tonne gross trailers.
Terry Owen and family - 21 in Wales
2025: £135m | 2024: £135m
Huws Gray
Terry Owen founded, chairs and retains a stake in the Anglesey-based builders’ merchant.
Founded in 1990 from a single branch in Gaerwen, Huws Gray has rapidly expanded over the past 30 years, through organic growth and acquisitions.
The company now operates from more than 250 branches and employes over 5,500 colleagues throughout the group.
Graham Anwyl and family - 22 in Wales
2025: £127m | 2024: £145m
Anwyl Group
Graham Anwyl, chairman of Anwyl Group, sadly died on December 29 2025 following a short illness. The father-of-three, 82, lived in Prestatyn with his wife Annie.
Born in 1943 in Greenfield Street, Rhyl, Graham grew up a stone’s throw from where Anwyl was founded by his grandfather Thomas Anwyl and father Walter Anwyl in 1930 as a joinery business.
After attending Rhyl Grammar School, Graham enrolled at the College of Building in Liverpool, before joining the family firm in 1964. He took over the company in the mid-1970s and, in the years that followed, led the expansion of its housebuilding division, Anwyl Homes, for which it is best known today.
Wales Business Insider reports that 'Lower profits and sales cut the Ewloe-based business’s value to £110m. A run of dividends and a separate company add another £17m.'
*The article was compiled prior to Graham Anwyl's death.
Geoff L Mound and the Lyons Family - 24 in Wales
2025: £113m | 2024: £94m
Lyons Holiday Parks
Geoff Mound’s family business owns 22 holiday parks across Wales and the Lake District, and a scrap merchant.
Lyons Robin Hood in Rhyl is the 'flagship' park for Lyons Holiday Parks.
The site is undergoing a £1m upgrade; New activities including a high ropes course, a climbing wall and trampolines are coming to the Rhyl park as well as new sports court and Go Karts.
Lyons Lido Beach in Prestatyn is also being revamped. A cash injection will see the creation of a brand-new complex featuring a restaurant and bar, a new owners’ lounge, and a modern reception area.
Huw Jones - 33 in Wales
2025: £82m | 2024: £82m
Jones Bros Ruthin
Earnings have remained steady at Jones’s Denbighshire-based civil engineering contractor, which has opened a new office in Cardiff.
Jones Bros was founded in the 1950s by brothers Glyn and Elwyn Jones. In the mid-70s. the baton was handed over to Huw Jones, son of Glyn, who has been instrumental in shaping Jones Bros Civil Engineering UK for half a century, with 40 years as managing director and the past decade as chairman, guiding the company through significant growth.
In November 2025, Mr Jones earned the esteemed title of Honorary Fellow in recognition of his significant contribution to North Wales, business, and green engineering. Mr Jones was bestowed the honour by Wrexham University’s board of governors at one of its annual awards ceremonies.
Michael Adey-Jones and family
2025: £70m | New entry
Mental Healthcare UK
Adey-Jones’ Denbighshire-based business provides support and residential care for individuals with autism, learning disabilities, and associated mental health conditions and needs, writes Wales Business Insider.
After reporting profits of £7.8m, the group should be worth £60m.
A separate property company adds another £3.1m.
Lord Mostyn and family - 41 in Wales
2025: £70m | 2024: £68m
Mostyn Estates
The peer is part of a campaign to attract Japanese tourists to North Wales.
Lord Mostyn, who owns 350 commercial units in the centre of Llandudno, gives tours of his ancestral home in Japanese.
The Mostyn family connection with Llandudno and Flintshire began more than 500 years ago.
The majority of Llandudno was laid out in 1849 by the Mostyn family, who leased most of the plots for development and influenced the building design and uses of the land.
Mario and Gill Kreft - 44 in Wales
2025: £67m | New entry
Pendine Park
Mario Kreft, chair of Care Forum Wales, and his wife Gill started out in the care home world in the mid-1980s after struggling to find somewhere for their elderly grandparents that met their own high standards.
In 2025, the couple marked the 40th anniversary of their ‘pioneering’ care organisation.
Pendine Park’s sites in Wrexham and Caernarfon provide care for 450 residents, many with dementia and other complex needs.
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