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Computer tycoon Sir Terry Matthews OBE is the fourth richest person in Wales, according to the 2022 Sunday Times Rich List.

Sir Terry, who grew up in Newbridge, is, according to the list, worth £1.23bn – making him the 147th richest person in the UK – despite a £10m drop in his wealth in the past 12 months

The 78-year-old made his fortune as a serial high-tech entrepreneur and became Wales’ first billionaire.

He was the richest person in Wales until 2012, when he was overtaken by Cardiff-born venture capitalist Sir Michael Moritz – who is remains the richest person in Wales with a wealth of £4bn.

Sir Terry, who is now a British and Canadian duel citizen, is the owner of Newport’s Celtic Manor Resort, as well as a number of businesses based in Canada.

He has founded or funded more than 100 high-tech communications companies, including Mitel – which he set up alongside Michael Cowpland in 1972 – and the Ottawa-based Newbridge Networks in 1986.

He was made an OBE in 1994 for his services to the communications industry, and was knighted by the Queen at Buckingham Palace in 2001.

In 2017, he was appointed an Officer of the Order of Canada (OC).

According to the Sunday Times, its Rich List is based on identifiable wealth, such as land, property or other assets such as art and racehorses for example.

It also includes significant shares in publicly-listed companies but does does not include bank accounts, which it does not have access to.