Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Surfing This Economic Boom

Surfing This Economic Boom

It has been another good year for the country’s rich. From the high-tech fields of cloud computing to the great dairying plains of Canterbury and the Waikato, fortune favours the brave.

This year we celebrate our home-grown rich listers collectively passing $50 billion for the first time. Their combined wealth of $51.2 billion in 2014 is more than double that of the 2004 list, which came in at $22.3 billion, and is well up on last year’s $47.9 billion. Add the small group of New Zealand-based international billionaires on the NBR Rich List and the figure swells to $63.3 billion.

Not only have the past few years been good for existing members, economic conditions have also been good for wealth creation. This year we welcome 13 newcomers, following the 12 added last year. The combined wealth of new entrants totalled $1.5 billion reflecting a range of different industries and investment.

There are one or two themes emerging, however, with the food sector in particular proving a lucrative place to invest. The world’s seemingly insatiable demand for our protein suggests this trend is not short-lived either. Dairy farmers Jim van der Poel and the Turley family make the list, while Hawke’s Bay’s Craig Hickson and Nelson-based Tom Sturgess are deeply involved in the farming sector. Others have diversified their interests; Gavin Faull may be Taranaki’s biggest dairy farmer but he also runs an international hotel management company.

Technology is also a profitable sector for entrepreneurs and venture capitalists. Men like Ian McCrae, co-founder of Orion Healthcare, are leading innovators capturing the attention of a resurgent share market. Xero founder Rod Drury saw his wealth skyrocket in 2013 before coming back down again in recent months in line with his company’s share price.

Property continues to be a solid and dependable avenue for wealth: Auckland developer Brett Russell, Hawke’s Bay’s Jonathan Wallace and National MP Ian McKelvie are added this year while Robt. Jones managing director Greg Loveridge joins founder Sir Robert Jones on the list. The absence of a capital gains tax is one reason for Kiwis’ preference for property but they also seem to share an emotional attachment to the land.

The retail sector has also been kind to those in the right area. EziBuy founders Peter and Gerard Gillespie, BurgerFuel baron Josef Roberts and Pak’nSave owner operator Paul Blackwell have succeeded through hard work and determination.

“This year’s NBR Rich List contains inspirational stories of those who have succeeded within existing social and economic arrangements. It has been another prosperous year for New Zealand – one of the few exceptions in the world – and while most of the rich have gotten richer, so have most others” – Nevil Gibson, Editor-In-Chief

2014 Rich List Top 10
Graeme Hart $7.0 billion
Richard Chandler $3.2 billion
Todd family $3.1 billion
Erceg family $1.6 billion
Christopher Chandler $1.2 billion
Michael Friedlander $1.2 billion
Goodman family $1.1 billion
Stephen Jennings $950 million
Sir Douglas Myers $900 million
Sir Michael Fay $830 million
David Richwhite $830 million

2014 Rich List (newcomers)
Ian McCrae $350 million
Tom Sturgess $280 million
Gillespie family $200 million
Turley family $130 million
Josef Roberts $100 million
Jim Van Der Poel $70 million
Gavin Faull $60 million
Brett Russell $55 million
Greg Loveridge $52 million
Paul Blackwell $50 million
Craig Hickson $50 million
Ian McKelvie $50 million
Jonathan Wallace $50 million

The NBR Rich List is on sale Friday 1 August @ $9.90 (available at all good retailers)

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Employment: ANZ Proposes Casualisation In Whangarei Stores

ANZ workers in Whangarei could see their incomes drop by 20 to 40 percent if the bank’s proposal to reduce the number of full-time positions goes ahead says FIRST Union national organiser Tali Williams. More>>

Finance: BNZ Develops Specialist Tāmaki Māori Banking Team

BNZ develops specialist Tāmaki Māori Banking Team to support Māori as Auckland grows More>>

Pharmaceuticals: Commerce Commission To Consider Pharmaceuticals Merger

The Commerce Commission has received an application from Pfizer Inc. seeking clearance to acquire all of the shares in Hospira Inc. More>>

Real Estate: Housing Unaffordability Issues Spread

Surging house prices in Auckland and Queenstown last month pushed home ownership even further beyond the reach of first home buyers in the two districts, according to the AMP360 Home Loan Affordability Report for March. More>>

Statistics NZ: Annual Exports To China Dip Below Australia

The value of goods exports to Australia ($8.7 billion) surpassed those to China for the year ended March 2015, Statistics New Zealand said today. More>>

Science: Hookworm Discovery At Malaghan Institute

Professor Graham Le Gros has led a team which has stimulated both innate and memory responses to the parasite, discovering along the way the unexpected behaviour of one particular immune cell, in Hookworm, one of the world’s most devastating tropical ... More>>

Business: Provinces Urged To Make Full Use Of New Air Services

Provincial New Zealand has been urged to use new air services to Auckland or risk losing them either partially or completely. The stark warning was issued today by Far North mayor John Carter at a ceremony at Kaitaia airport to mark the final Air ... More>>

Mobile: 2degrees To Credit All Calls And SMS To Nepal

In the wake of the devastating earthquake in Nepal in the weekend, 2degrees will be crediting all calls and SMS messages made to mobiles and landlines in Nepal from Friday 24th April until midnight Wednesday 29th April. More>>

Scoop Business: Alex Swney Pleads Guilty To $2.5M Fraud Charge

Alex Swney, former chief executive of the Auckland city centre business association Heart of the City, has pleaded guilty to dishonestly using documents to obtain $2.5 million. More>>

ALSO:

Petrol Burns Prices: Second Consecutive Quarterly Fall For CPI

The consumers price index (CPI) fell 0.3 percent in the March 2015 quarter, following a 0.2 percent fall in the December 2014 quarter, Statistics New Zealand said today. The last time the CPI showed two consecutive quarterly falls was in the December 1998 and March 1999 quarters. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news