Richest man in Wales via Google
icWales: "WALES has a new richest man - the financier who helped launch the internet search engine Google.Michael Moritz, pictured, makes a shock appearance on The Sunday Times' Rich List this year. With a fortune of �1.35bn he has shot to the top as Wales' second billionaire, replacing Sir Terry Matthews as the richest Welsh person on the prestigious list."
icWales - Search engine's power pays off: "Google billionaire Mr Moritz, 51, a father-of-two, is a partner in Silicon Valley venture capital firm Sequoia Capital. He became a director of Google after investing $12.5m in 1999.
Sequoia is one of the most successful private equity firms in IT and has a stake in Google worth about 2.7bn. As Sequoia's 'star player', Mr Moritz is expected to net the lion's share of that.
Mr Moritz worked previously as a journalist and writer. He is now based permanently in California.Richard Beresford, compiler of the Rich List described him as a financial 'genius'. He said, 'I don't know what he was brought up on in Cardiff but his brain for spotting these opportunities is phenomenal.'
The secretive world of private equity in which Mr Moritz works is notoriously difficult to pene-trate. But Mr Beresford said Mr Moritz 'is probably the best person in the world in spotting investment early'."
posted by Jen @ 2:19 am
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