Surveys

New Zealander Defies Recession To Stay On Top Of National Rich List - Report

Tom Burroughes Group Editor London 26 July 2009

New Zealander Defies Recession To Stay On Top Of National Rich List - Report

Graeme Hart, the New Zealand businessman whose investments range from packaging to food, retained his top position on the National Business Review’s 2009 Rich List, a position he has held for eight years, according to the “Scoop” business website.

Mr Hart’s wealth fell NZ$500 million ($328 million) to an estimated NZ$5.5 billion in the latest Rich List survey.  The global financial crisis cut the combined wealth of Rich Listers by NZ$5.7 billion to $38.7 billion, and resulted in 17 being dropped from the list.

The Todd family, with interests in energy, mining and media companies, was second on the list, with an estimated NZ$2.6 billion, unchanged from a year earlier.

Dairy farm and property investor Eamon Cleary ranked third, with his wealth falling by NZ$100 million to NZ$2 billion, the website said.

Fund managers Richard and Christopher Chandler, who oversee Sovereign Asset Management, had a combined wealth of NZ$3.6 billion, rank fourth, according to the NBR’s annual survey.

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