NZ Rich List: Who Are the Richest Kiwis in 2023?
New Zealand has been ranked one of the wealthiest nations in the world. Over the past decade, the wealth level of this country has increased at a tremendous rate. Each year, the NBR rich list comes out naming the richest people in NZ. Today, we’re going to introduce you to the people who sit at the top of the NZ rich list.
Who Is The Richest Person in New Zealand Right Now?
New Zealand’s richest man is none other than Graeme Hart. It is estimated that he has $9.7 billion net worth. So, how does Hart earn his money? His fortune lies in the packaging industry and good investments.
He is currently the chairman of Burns Philp, Reynolds Packaging Group, and Carter Holt Harvey. Hart has also invested in Rank Group and owns the majority of shareholders for Walter & Wild.
Hart didn’t start out with an abundance of wealth. He was just an average kid who dropped out of school at the age of 16 and started working as a truck driver. However, he credits his strict preparation and a desire to take risks with how he became so successful in his 50-year career.
According to the New Zealand Herald, Hart started his business career with a $500 loan from his father and a $2000 bank loan. He grew his capital one step at a time and believes that other young adults could follow in his footsteps if they have the initiative.
NZ’s Top 14 Billionaires: Richest Kiwis as of 2022/2023
Graeme Hart may be the richest billionaire in NZ, but he isn’t the only one to make the list. New Zealand is home to plenty of billionaires. Let’s take a look at who makes the list of richest Kiwis in 2023 and their approximate net worth.
- Graeme Hart- $9.7 billion
- The Todd Family- $4.4 billion
- Richard Chandler $4 billion
- The Goodman Family- $3.2 billion
- The Mowbray Family- $2.6 billion
- Michael Friedlander- $2 billion
- Rod Drury- $1.97 billion
- The Erceg Family- $1.6 billion
- Christopher Chandler- $1.3 billion
- The Talley Family- $1.3 billion
- Bob Jones- $1.2 billion
- Bruce Plested- $1.05 billion
- Jim and Rosemarie Delegat- $1.02 billion
- Mark Stewart- $1 billion
How the NZ Rich List is Determined
There are many ways that an individual or family can acquire wealth. The NBR rich list considers a person’s net worth when they are given a spot on the list. This isn’t limited to their business activity. It also includes any assets they own, investments they have made, and other factors that contribute to their wealth.
Property
Properties do contribute to a person’s wealth. In many cases, a property can be a person’s most valuable asset. Many of the billionaires on the NBR rich list own multiple properties in the country.
Make and Sell
Graeme Hart and other NZ billionaires have made a fortune off of what they make and sell. This involves creating a company and then selling it. It’s how many of the people on the rich list moved up. This doesn’t always involve selling the whole company. They can sell a share of it and massively increase their wealth.
Investment
The right investments could be a major contributor to a person’s wealth. The top billionaires have made good investments throughout their careers. This includes investing in businesses, stocks, mutual funds, bonds, and more.
Agribusiness
Agriculture is important to every nation. Not only is it a reliable way to improve a person’s wealth, but it can also help decrease poverty rates. Agribusiness helps communities by creating more jobs.
Tech and Services
Technology has become a huge factor in wealth growth. The many advances in technology, it has given people a tool to expand their wealth. Billionaires aren’t the only people that are benefiting from tech services. Many middle-class and low-income people are also using tech to create new financial opportunities for themselves.
Changes to the NBR List
There’s no denying that people have always been fascinated by wealth. The NBR list first came out in 1990. While it gathered a lot of attention, it did come off as shallow. In 2020, the list went on hiatus as the nation dealt with the COVID-19 pandemic. When the list made news upon its return, it decided to change its focus. Moving forward, the list would focus on how the wealth was good for the nation.
The Meehans & Apatu – New names added to the NRB rich list
In 2022, two new names were added to the NBR richest people list. The first name what the Meehan family. Chris and Michaela Meehan are property developers from South Island. Their approximate net worth is $600 million. From 2021 to 2022, the company had impressive growth, developing nearly $5 billion worth of properties.
Mark and Paul Apatu are the owners of Apatu Farms. These vegetable farmers have a net worth of approximately $120 million.
How NZ Billionaires Compare to Other Billionaires Around the Globe
New Zealand does have a small number of billionaires compared to the US, Russia, Germany, and other parts of the world. The billionaires in NZ aren’t as excessive as they are in North America and other nations.
The US is the home to the highest number of billionaires. Elon Musk is the richest man in the US, with an estimated net worth of $261 billion. Jeff Bezos, the owner of Amazon, has a net worth of approximately $127 billion. These numbers are extreme compared to the net worth of Graeme Hart.
What brings billionaires to NZ
New Zealand attracts a lot of people because it’s a beautiful country. However, wealthy people are interested in this nation because there are many great investment opportunities. NZ also has great real estate opportunities. Billionaires from the US and other parts of the world are intrigued by the property, especially when they’re looking to relocate.
How NZ’s richest people built their Fortune
Believe it or not, most NZ billionaires weren’t born into wealthy families. Let’s take a quick look at how 5 of the wealthiest people built their fortune.
- Graeme Hart- Hart earned his fortune through the packing and manufacturing industry. He has taken risks and made smart investments.
- The Todd Family- this family was initially a big player in the automotive industry with Todd Motor Industries. In 1987, they sold to Mitsubishi and moved into the energy sector. The Todd Corporation is now responsible for 60% of hydrocarbon production in NZ.
- Michael Friedlander- this man has made investments in companies like Ponsonby and Grey Lynn to Remuera.
- Richard Chandler- this businessman earned his fortune by investing in struggling companies and reinventing them into successful businesses.
- The Goodman Family- Pat Goodman founded the food manufacturing company, Goodman Fielder. They are one of the leading food giants in NZ.
Non-Kiwi Billionaires Living in New Zealand
As mentioned above, many non-Kiwi billionaires are interested in NZ because of the property. It has caught the attention of several US billionaires that are preparing for doomsday. They are looking for hideaway spots outside of the US. Some believe that a natural disaster could strike, while others believe that a political disaster will cause them to flee.
New Zealand has become the most sought-after location for these billionaire preppers. Peter Thiel and Sam Altman are a few of the wealthy Americans who have been looking toward New Zealand in the event of a disaster.
Conclusion – NZ Rich List
The wealth in New Zealand continues to grow. Many billionaires in this country have invested in companies that improve the nation. This includes agriculture, packaging, tech, and other industries. Graeme Hart continues to be named the richest man in the country. He leads a private lifestyle focusing on the financial aspects of his companies.
Resources:
Graeme Hart inducted into NZ Business Hall of Fame
New Zealand makes list of world’s wealthiest countries
Richest people in New Zealand 2023 NBR List
The Detail: Why New Zealand’s Annual Rich List is shifting focus to more profit with purpose
Mapped: The World’s Billionaire Population, by Country
Oliver Jones is a seasoned journalist with a specialty in the iGaming sector. With a robust background that marries 11 years in mainstream journalism with 4 years dedicated to the online casino industry, Oliver provides a unique blend of relevant news and insightful analysis.
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