Terence (Terry) Matthews

$1.57 B

Ranked #2475 in World

About Terence (Terry) Matthews

Sir Terence Hedley Matthews, the first billionaire from Wales, encompasses the epitome of entrepreneurship. A pioneer in the telecommunications industry, Sir Terence has founded or funded over 100 companies, including Mitel and Newbridge Networks. His remarkable journey initiated with an electronics degree from Swansea University and unfolded into becoming a global business titan. As the head of Wesley Clover, Celtic Manor Resort, and board chairman of Swansea Bay City Region, he symbolizes a blend of wealth and innovation. Dedicated to philanthropy, Matthews has contributed significantly to society, earning prestigious accolades like the OBE and the Order of Canada.

Born

April 01, 1943 in Newport, Wales

Age

83 years

Source Of Wealth

Telecom

Industries

Telecom

Citizenship

Canada

Residence

Ottawa

Education

Doctorate, Carleton College; Bachelor of Arts/Science, University of Wales

Spouse

Ann Matthews

Children

4, including Trevor Matthews

Sir Terence Hedley Matthews was born on May 19, 1946, in Newport, South Wales. He grew up in Newbridge, Caerphilly, and attended Swansea University, where he received a bachelor's degree in electronics in 1969.

Terence (Terry) Matthews: Family

Sir Terence Hedley Matthews is married and has three children: Karen, Owen, and Trevor. Karen is the executive director at Wesley Clover Parks, Owen is a General Partner at Wesley Clover and founder of the Alacrity Foundation, and Trevor is an actor and founder of Brookstreet Pictures.

Terence (Terry) Matthews: Career Highlights

Sir Terence Hedley Matthews is a Welsh-Canadian business magnate, serial high-tech entrepreneur, and Wales' first billionaire. He has founded or funded over 100 companies in the high-tech communications field. Some of his notable career highlights include:

Co-founded Mitel in 1972, which became one of the most successful manufacturers of small PBX systems and telecom semiconductors in the world.
Founded Newbridge Networks in 1986, which became a leader in the worldwide data networking industry.
Reacquired the Mitel PBX business and company name in 2000 and turned it into a broadband communications company.
Invested heavily in enterprise Voice over IP telephony technology.
Took Mitel public again in 2010.
Acquired Aastra Technologies in 2013, Mavenir Systems in 2015, and Polycom in 2016 (deal fell through).
Acquired ShoreTel in 2017, increasing the company's size to 4,200 employees.
Sold Mitel to an investor group led by Searchlight Capital Partners in 2018.

Terence (Terry) Matthews: Companies

Sir Terence Hedley Matthews has founded or been involved with numerous companies, including:

Mitel
Newbridge Networks
Wesley Clover
Celtic Manor Resort
KRP Properties
March Networks
Bridgewater Systems
Ubiquity Software
Convedia
Celtic House
Newport Networks
Alacrity Incubator and Accelerator Program

Terence (Terry) Matthews: Major Achievements

Sir Terence Hedley Matthews has achieved significant success in the business world. Some of his major achievements include:

Building Mitel into one of the most successful manufacturers of small PBX systems and telecom semiconductors in the world.

Founding Newbridge Networks and leading it to become a leader in the worldwide data networking industry.
Turning Mitel into a broadband communications company and taking it public again in 2010.
Acquiring several companies, including Aastra Technologies, Mavenir Systems, and ShoreTel.
Becoming Wales' first billionaire.

Terence (Terry) Matthews: Awards & Achievements

Sir Terence Hedley Matthews has received numerous awards and recognitions for his contributions to the business world. Some of his notable awards include:

Officer of the Order of the British Empire (OBE) in 1994.
Fellow of the Royal Academy of Engineering in 1998.
Knight Bachelor in 2001.
Honorary doctorates from the University of Wales, Carleton University, and the University of Bath.
Patron of the Cancer Stem Cell Research Institute at Cardiff University.
Officer of the Order of Canada (OC) in 2017.

Terence (Terry) Matthews: Personal Life & Legacy

Sir Terence Hedley Matthews is known for his philanthropic efforts. He founded the Wesley Clover Foundation, which supports entrepreneurship, healthcare, education, and community initiatives. He also hosts an annual gala, Lumière, that has raised over $1 million for charity.

Terence (Terry) Matthews: Trivia

Sir Terence Hedley Matthews is a keen golfer and owns the Celtic Manor Resort, which hosted the 2010 Ryder Cup golf tournament and the 2014 NATO summit. He is also a patron of the arts and has supported various cultural initiatives in Wales.

Wealth History

Timeline

1946

Sir Terence Hedley Matthews was born in Newport, South Wales.

1969

Matthews received a bachelor's degree in electronics from Swansea University.

1972

Matthews co-founded Mitel with Michael Cowpland in Ottawa, Ontario, Canada.

1985

British Telecom bought a controlling interest in Mitel.

1986

Matthews founded Newbridge Networks.

2000

Matthews reacquired the Mitel PBX business and company name.

2010

Mitel went public again.

2013

Mitel acquired Aastra Technologies.

2015

Mitel acquired Mavenir Systems.

2016

Mitel attempted to acquire Polycom (deal fell through).

2017

Mitel acquired ShoreTel.

2018

Mitel was bought by an investor group led by Searchlight Capital Partners.

2014

Matthews was appointed chairman of the Swansea Bay City Region Board.

2016

Matthews purchased the Hilton Hotel in Newport, which was incorporated into the Celtic Manor Resort Collection as the Coldra Court Hotel.

1994

Matthews was appointed Officer of the Order of the British Empire (OBE).

1998

Matthews was elected Fellow of the Royal Academy of Engineering.

2001

Matthews was knighted.

2017

Matthews was appointed Officer of the Order of Canada (OC).

Terence (Terry) Matthews : FAQs

What is Terence (Terry) Matthews's current net worth?

Terence (Terry) Matthews's current net worth is $1.57 billion.

What is Terence (Terry) Matthews's current global rank among billionaires?

Terence (Terry) Matthews holds the 2475th position globally among billionaires.

What is Terence (Terry) Matthews's current ranking within the Canada?

Terence (Terry) Matthews holds the 68th position in Canada.

What was the change in Terence (Terry) Matthews's net worth compared to the previous year?

Terence (Terry) Matthews's net worth decreased by 4.21 million dollars compared to the previous year 2025, when his net worth was 1.58 billion dollars.

What are Terence (Terry) Matthews's main sources of wealth?

Terence (Terry) Matthews's main source of income comes from Telecom.

In which industry does Terence (Terry) Matthews primarily operate?

Terence (Terry) Matthews is primarily involved in the Telecom industry.

What is Terence (Terry) Matthews educational background?

Terence (Terry) Matthews holds a Doctorate from Carleton College and a Bachelor of Arts/Science from the University of Wales.

How old is Terence (Terry) Matthews?

Terence (Terry) Matthews is 83 years old.

How many children does Terence (Terry) Matthews have?

Terence (Terry) Matthews has 4 children.

Who is Sir Terence Hedley Matthews and what is he known for?

Sir Terence Hedley Matthews is a Welsh-Canadian business magnate, serial high-tech entrepreneur, and Wales' first billionaire. He is renowned for founding or funding over 100 companies in the high-tech communications field. He is also the chairman of Wesley Clover and the Swansea Bay City Region board, and owns several properties including the Celtic Manor Resort.

What are some key milestones in Sir Terence Hedley Matthews's early career?

Sir Terence Hedley Matthews studied electronics at Swansea University and started his career with an apprenticeship at British Telecom's research lab. He left Britain to work for MicroSystems International in Ottawa, Ontario, Canada, laying the foundation for his future success in telecommunications.

What was the significance of Mitel in Sir Terence Hedley Matthews's career?

Mitel, co-founded by Sir Terence Hedley Matthews in 1972, was a crucial turning point in his career. Initially a technology consultancy, it evolved into a successful chip manufacturer and became one of the leading manufacturers of PBX systems and telecom semiconductors. British Telecom's purchase of a controlling interest in 1985 marked a significant achievement.

What impact did Newbridge Networks have on the data networking industry?

Founded in 1986 by Sir Terence Hedley Matthews, Newbridge Networks became a leader in the worldwide data networking industry. Its success was highlighted when it was acquired by Alcatel for $7.1 billion in 2000, signifying its strong market position and innovative technologies.

How has Sir Terence Hedley Matthews contributed to his native Wales?

Sir Terence Hedley Matthews has made significant contributions to Wales through various ventures. He notably spends time working on the Celtic Manor Resort, which hosted the 2010 Ryder Cup and 2014 NATO summit. Appointed as the chairman of the Swansea Bay City Region Board and having purchased additional properties in the region, he continues to impact the Welsh economy and community.