Share Investor: 2008 NBR Rich List

The 2008 NBR Rich List is out. I suspect most Kiwis will be looking at the list with a large amount of jealousy and an unhealthy level of suspicion.

Your Eric Watsons and Michael Fays of the list do have a huge amount of tarnish to their wealth. Watson behind more losses for investors, including the recent Hanover Finance collapse, than the All Blacks at World Cups and Fay milking New Zealand Taxpayer assets for his own personal joy, but most on the list got there because of intelligence, a small quotient of luck and most of all a great deal of hard work and stubborn perseverance.

I myself look at such people with a positive curiosity. I don't think, who did you rip off to get where you are but how did you manage to get where you are?

We will get some political capital from the left, made about a possible future Prime Minister, in John Key , about being at number 167 on the list with a personal fortune of around NZ50 million, but being a success in life and coming from such humble beginning's, like the number one lister, Graeme Hart, will make Key excellent Priministerial material.

How do I get on that list now?!

NZPA Friday July 25 2008 - 06:35am

National Party leader John Key has squeaked into the National Business Review's annual Rich List for the first time, with his estimated $50 million net wealth just meeting the list's threshold for inclusion.

The NBR says Mr Key's well-known rag to riches story sees him owning properties in Auckland, Wellington, Omaha Beach, as well as an apartment in London and newly acquired $US3.25m holiday home in Hawaii.

Continued

Rich List to 10:

1 Graeme Hart $6 billion

2 Todd Family $2.6 billion

3 Eamon Cleary $2.1 billion

4 Christopher Chandler $2 billion

4 Richard Chandler $2 billion

6 Goodman Family $1.64 bilion

7 Lynette Erceg $1.4 billion

7 Stephen Jennings $1.4 billion

9 Wade Thompson $750 million

10 Sir Michael Fay $700 million