New Zealand’s income has increased dramatically over the last decade. According to a survey by Credit Suisse, currency fluctuations have aided the country’s economic development. The following is a list of the top 10 richest men in New Zealand
Graeme Hart – $9 Billion
Graeme Hart is a New Zealand business magnate. His life began with a log house and ended with a stunning white villa. Because of his modesty and desire to keep a low profile, Hart is referred to as an underground billionaire. In New Zealand, Graeme owns homes in Auckland and Waiheke Island. He also owns a 58-meter luxury motor yacht that attracts a lot of tourists.
Graeme Hart made the most of his money as a private equity trader who specialized in leveraged buyouts. The billionaire from New Zealand will concentrate on underperforming and undervalued businesses that were still generating consistent sales and had the ability to expand with the support of a professional like Hart. He’d use cash management, consolidation, and cost-cutting tactics to bring these underperforming businesses off the ground, turn them into a big source of revenue, and get them back on track.
Richard Chandler – $4 Billion
The next guy we’ll talk to is also a business owner. Investing as a means of accumulating capital appears to be very common in New Zealand. Richard Chandler is the second richest man in New Zealand, but he is well-known for his abilities and professionalism. Chandler is the CEO of the Clermont Empire, a multinational investment firm. This company is headquartered in Singapore and invests in both public and private businesses.
He has a track record of buying struggling businesses and then restoring them. Hoan My Medical Corporation is 80 percent owned by him.
Chandler has spent a large portion of his fortune on giving back and helping to improve New Zealand as a nation. He also invests in firms with national socioeconomic ramifications, and he is open about his desire to do as much good as possible with his talent for saving businesses and his strong knowledge of corporate and financial management. Chandler has also initiated a $100 million education campaign in the developed world to provide opportunities for young people in India.
Todd Family – $3.16 Billion
Todd Corporation is owned by the Todd family of New Zealand. The Todds was used in the extraction and refinement of petroleum products. Todd’s has also assisted in the assembly of a wide variety of automobiles, as well as medium and heavy industrial vehicles. The Todd family supports a range of organisations through the Todd Foundation which was formed in 1972.
The Todd Corporation, based in Wellington, New Zealand, is a major private New Zealand enterprise worth $4.3 billion that is owned and operated by the Todd family. Henry Tait, Chairman of the Board, and Jon Young, Group Chief Executive Officer, currently lead the company. In addition, the company directly hires 800 people in 20 locations across New Zealand, Australia, and the United States. This group comprises eight members of the Senior Management Committee and nine members of the Board of Directors.
Erceg Family – $1.6 Billion
In New Zealand, the Erceg family controls the liquor industry. Vodka Cruiser and Woodstock Bourbon are two of his ready-to-drink beverages. After his death, it was sold to private equity investors. The Independent liquor is unique in that it is prepared in just six weeks. It’s no surprise that people prefer it.
Michael Friendlander – $1.4 Billion
Michael Friedlander’s wealth stems from his massive investments in Ponsonby and Grey Lynn, as well as Remuera, Parnell, Mt Eden, and Onehunga. He began a promising career almost 50 years ago, and there has been no turning back since. This family is also well-known for their charitable endeavors.
In the 2016 Queen’s Birthday Honours, he was upgraded to Knight Companion of the New Zealand Order of Merit for contributions to philanthropy.
Christopher Chandler – $1.3 Billion
Christopher Chandler (born 1960) is a billionaire from New Zealand and the founder of the Dubai-based investment firm Legatum. He has a net worth of $1.7 billion, according to The Guardian.
Christopher and his older brother, Richard, took over the company in 1982 and extended it to ten locations, adding apparel design, engineering, and real estate before looking for overseas investment opportunities.
The brothers founded Sovereign Global, an investment company based in Monaco, in 1986 to concentrate on transitioning markets in Russia, Latin America, and Eastern Europe. The company made money by investing in properties that it thought were undervalued in unpredictable times. Among them were the Chandler twins.
The Chandler brothers were among the first and largest players in Brazil, the Czech Republic, and Russia’s developing markets. Fortune Magazine has dubbed Chandler “one of the world’s biggest contrarian investors.”
Goodman Family – $1.2 Billion
The Goodman family purchases, creates, and operates modern, high-quality industrial and commercial space in New Zealand. East Tamaki, Mangere, Mt Roskill, Mt Wellington, Otahuhu, Panmure, Penrose, and Wiri are among the estates in the portfolio that are exclusively invested in the Auckland industrial market.
With over one million square meters of floorspace, the portfolio has a size that aims to draw and hold clients. The top ten clients account for about 32% of the portfolio’s revenue. Coda, DHL, Fletcher Building, Fliway Transport, Foodstuffs, Freightways, NZ Post Group, OfficeMax, T&G Global, and Toll are among the companies involved.
Stephen Jennings – $980 Million
Rendeavour’s Founder and CEO, Stephen Jennings, is a creative entrepreneur. Stephen Jennings, a Taranaki native, is one of the world’s richest self-made New Zealanders, with a net orth of $5.2 billion (according to Forbes). Stephen worked for Credit Suisse First Boston after starting out as a free-market economist and a New Zealand Treasury official.
In 1995, he co-founded Renaissance Capital, which grew to be a multibillion-dollar company, but was hit hard by Russian economic problems and then the 2008 Global Financial Crisis.
Stephen sold his remaining Renaissance Capital shares in 2012 and is now the Founder and CEO of Rendeavour, where he is developing seven satellite cities in the “urban development trajectories of major cities in Kenya, Ghana, Nigeria, Zambia, and the Democratic Republic of Congo.”
Sir Douglas Myers – $930 Million
Sir Douglas Myers joined Lion Nathan in 1965, when he was named CEO of Campbell & Ehrenfried, trailing in the footsteps of his father, Sir Kenneth Myers, and grandfather, Sir Arthur Myers. Lion Breweries and then Lion Nathan were formed through a sequence of mergers and cross-shareholdings. For over 15 years, Myers served as Lion’s MD, CEO, and chairman until retiring in 1997. In 1998, Myers sold the majority of his 16 percent stake in Kirin Brewery Company for $312 million, forming the world’s fourth largest brewing company. In 2017, he passed away.
Sir Michael Fay – $870 Million
Sir Humphrey Michael Gerard Fay (born 10 April 1949) is a partner in the merchant bank Fay Richwhite in New Zealand. He is one of New Zealand’s ten wealthiest men. His personal fortune was largely amassed in the late 1980s and early 1990s, during which time he played a key role in New Zealand’s Fourth Labour Government’s structural reform of the economy. He is estimated to be worth more than NZD 920 million, making him New Zealand’s tenth richest person in 2017.