Hawke's Bay's wealthiest in rich list
Hawke's Bay's Lowe family, Sileni Estate's president and chief executive Graeme Avery and Cape Kidnappers' Julian Robertson feature in the NBR Rich List 2012.
They are part of a group that boasts nine billionaires and a combined wealth of $57.7billion.
American investor Julian Robertson, who owns The Farm at Cape Kidnappers, is a new addition (fourth), with an estimated wealth of $3billion.
Tied at 78th place is Hawke's Bay-based Xero chief executive Rod Drury and the Lowe family. Both have an estimated wealth of $120million. Hastings businessman Graeme Lowe - a pioneer and entrepreneur of the meat industry - died just over a week ago.
Sileni Estates chief executive Graeme Avery (122nd) has a worth of $75million, and the Hawke's Bay-based McVicar family (131st) $70million.
The richest New Zealander remains Graeme Hart, who sits in second place with $6billion.
The Cushing family (71st) is also on the list with $125million. Sir Selwyn Cushing lives in the Hastings area and is a director of Rural Equities Ltd.
This year's list has introduced an international section, members of which have invested parts of their fortunes in New Zealand or have assets that give them residency rights.
As a result movie mogul James Cameron, worth $900million, and Cape Kidnappers' Mr Robertson make their debuts on the list, and first place goes to Russia-based mineral and steel magnate Alexander Abramov, with a reported wealth of $7billion.
Mr Abramov is building a $40million luxury waterfront home in Northland.
NBR editor in chief Nevil Gibson said the achievements of those on the list should be celebrated. "Those on the NBR Rich List 2012 invest diversely and generously in art and culture, education and employment opportunities and social services," he said. "Along with the newcomers to the NBR Rich List 2012, we are also seeing billionaires on other countries' lists showing an interest in New Zealand, and once they get here on business, they tend to find this a great place for pleasure." The Rich List is compiled by looking at listed shares that can be valued.
Where wealth has been created in a private company that has been sold, the value of the family is established at the date of sale then increased or decreased depending on subsequent business activities. Where wealth remains in a private company with no value placed on it, valuation starts with turnover figures and profit margin percentages in similar listed companies.
