National Business Review Celebrates 25 Years of Rich Lists

National Business Review Celebrates 25 Years of Rich Lists

When it published the National Business Review Rich List 2011 on Friday, July 29, the business paper celebrated 25 years acknowledging New Zealand's wealthiest industrialists, entrepreneurs, horticulturalists, property developers, farmers, investors and innovators.

Newly available information has resulted in a number of new entrants to the NBR Rich List in 2011, including the Fulton family ($295m) and the Hogan family ($180m), families whose construction and contracting company, Fulton Hogan, enjoys almost iconic status in New Zealand.

Another newcomer to the NBR Rich List is John Holdsworth ($150m) chair of New Zealand's largest kiwi-owned IT company Datacom Group.

Founder and chief executive of Les Mills International, Philip Mills joins the NBR Rich List with his wife Dr Jackie Mills ($90m), as does Mainfreight's co-founder Neil Graham ($65m). This year investor Owen Glenn ($900m) returns to the NBR Rich List in recognition of his renewed activity in New Zealand.

NBR news editor Ellen Read says that while they were compiling the NBR Rich List, her team asked a number of those listed what it takes to create wealth. "We expected to hear the usual expressions of dedication, courage, consolidation and calculated risk, she says. "Yet what emerged again and again was the need for a regulatory and operational environment that's conducive to wealth creation. 'Eliminating excessive regulation', 'easing constrictions' and 'freeing up the entrepreneurial spirit' were regarded as essential to enabling wealth creation."

Being loud and proud of success was also regarded as essential. "Such a position fosters confidence, generates optimism, backs winners and underpins achievement."

There are still six billionaires on the NBR Rich List in 2011. Investor Richard Chandler has significantly improved his position over the past year, up $2.6bn to $4bn, behind packaging king Graeme Hart at $6.5bn, up $1bn over last year. The Todd family ($2.7bn) and investor farmer Eamon Cleary ($2bn) maintain third and fourth positions respectively in the billionaire lineup, while Lynne Erceg and Christopher Chandler share 5th place at $1.5bn.

Reflecting on the List, Ms Read notes that new comer John Holdsworth is typical of many of the listed men and women who contribute significantly to charity, through sponsorship and ongoing financial support. "John Holdworth's professional and personal dedication to social and community responsibility and his work with IHC New Zealand and Special Olympics New Zealand are as noteworthy as his business acumen and financial portfolio."

It's a List that has increased overall wealth to $45.2bn, up from the $38.2bn recorded in 2010 when the NBR Rich List's overall wealth dipped in the face of the global financial crisis. For the 151 NBR Rich Listers in 2011, 99 men, 4 women, 41 families and 7 pairs, the threshold for inclusion on the NBR Rich List remains $50 million.

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