Well-heeled need platforms to make rich list

Sunday 4 July 2004

Won Lotto lately and think you are headed for the Rich List? Forget it - the National Business Review has raised the bar for this year's list by $10 million, meaning you must have at least $25 million to get a look in.

By The Landlord

Despite the tougher threshold, the list has grown to 187 individuals and families, after 29 new entries eclipsed 25 who fell off from last year.

(One casualty is Auckland City Mayor John Banks, who squeezed into last year's list with an estimated net minimum worth of $16 million.)

A $4 billion increase in the combined net worth of those listed this year to more than $22 billion has the compilers gushing about an "explosion" of wealth in what they call a time of exceptional prosperity.


Topping the list of individuals for the third year running is food tycoon Graeme Hart, whose estimated worth has grown from $1.2 billion to $1.4 billion.

He is more than twice as rich as runner-up Douglas Myers, but the liquor baron has edged $20 million ahead of merchant bankers Sir Michael Fay and David Richwhite to a net worth of $650 million.

Read More - Opens in a new window
Commenting is closed

Property News

Why the future is not bleak for the housing market

Uncertainty continues to cast its shadow over the housing market but economist Tony Alexander has put together a list of reasons which offset the negatives and mean the market remains well-supported.

Commercial

$75m on offer for new developments

Auckland ’s long-term future is sound as well situated residential developments will always sell and demand for affordable housing remains strong, a leading non-bank property financier says.

Mortgages

Mortgage borrowing rebounds in May

New mortgage borrowing rose by roughly $1.6 billion in May as the property market showed signs of recovery from the Covid-19 lockdown.

Site by PHP Developer