GWENT billionaire SirTerry Matthews is again ranked as Wales' richest person.

Sir Terry, orignally from Newbridge, is worth an estimated £1.2 billion, according to the Sunday Times Rich List.

His fortune is the biggest in Wales and ranks him as the 40th wealthiest person in the UK.

The 62-year-old's empire includes the Celtic Manor Resort, in Newport, which will host the 2010 Ryder Cup.

He went to Canada and made his money in telecommunications. He set up Mitel and then Newbridge Networks, which he sold in 2000 for £4.4 billion, earning him shares worth £530 million today.

Last year Sir Terry was in second place in the Wales league, behind Michael Moritz, 52, from Cardiff, who invested in the search engine giant Google.

The list's compilers estimated Mr Moritz's wealth at £1.35 billion in 2005 but this time valued him at "just" £518 million, which put him in fourth place.

Singer Sir Tom Jones and actress Catherine Zeta-Jones are also among the top ten richest Welsh people.