|
Home
> Our Publications > New Zealand Outlook > 2003 > September
The
rich are now seriously rich NEW
ZEALAND'S rich citizens grew even richer last year.
National Business Review's annual Rich List estimates the
most affluent Kiwis increased their combined worth by
more than $3.2 billion in the past year, the biggest rise
since the list began in 1986.
Auckland businessman Graeme Hart is still the richest man
with an estimated $1.2 billion, twice as much as his
nearest rivals.
They are Sir Michael Fay, David Richwhite and Doug Myers,
who are valued at $600 million each.
However, The Warehouse founder Stephen Tindall had a bad
year. His estimated wealth dropped by more than a third
from $655 million to $420 million, largely because of
lower share prices.
Mr Tindall is now at sixth place in the list below United
States-based New Zealand property developer Peter Cooper,
who has an estimated wealth of $500 million and is one of
three newcomers to the top 10.
The others are Briscoes magnate Rodney Duke (7th). who
bought the fledgling retail company for six figures in
1988 and is now worth $320 million, and Michael Erceg
(8th), whose company Independent Liquor has brought him a
personal wealth of $300 million.
Investors Alan Gibbs and Eric Watson complete the top 10
with $300 million and $275 million respectively.
Wellington s Todd family is still the richest family,
with an estimated worth of $2 billion, unchanged from
last year.
To qualify for the list, individuals or families must
have an estimated wealth of at least $15 million.
This year's list includes 183 entries, two more than last
year.
List editor Graeme Hunt said the increase in combined
wealth was partly due to some very wealthy newcomers, but
most of it could be attributed to investments in
property.
Lord of the Rings director Peter Jackson was the richest
showbiz personality on the list. His value was estimated
to have almost doubled from $40 million last year to $70
million.
The richest of the New Zealand sports stars on the list
was Chris Dickson, who is estimated to have amassed $20
million from yachting and property.
|
