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Steven Adams joins Graeme Hart on NBR rich list

Author
NZ Herald,
Publish Date
Wed, 15 Aug 2018, 9:44AM
Steven Adams is the only sports star to make the list. (Photo / NZ Herald)
Steven Adams is the only sports star to make the list. (Photo / NZ Herald)

Steven Adams joins Graeme Hart on NBR rich list

Author
NZ Herald,
Publish Date
Wed, 15 Aug 2018, 9:44AM

The National Business Review has announced its annual Rich List for 2018, and there are again a few familiar names in the mix.

The latest edition of the prestigious rundown of billionaires exceeded $100 billion for the first time, as numerous previous records fell.

Watch NBR's live stream here.

The combined total net worth of the rich listers came in at $100.8b, up from $79.9b in 2017.

The richest person on the list was again Graeme Hart, with the billionaire consolidating his place at the top by adding $1.5b his fortune, which now sits at $9b.

There were 34 newcomers on the list, contributing a total $5.89b to the overall amount.

Among the newcomers was basketball star Steven Adams, who, with a net worth of $50 million, was the only New Zealand sports star to make the cut.

The wealthiest newcomer on the list was American investor Ric Kayne, whose value in New Zealand was measured by NBR at $1.8b.

Other newcomers included Perpetual Guardian's Andrew Barnes, who this year made headlines for giving his staff a four-day week on full pay. His net worth came in at $150m, putting him in 10th position among the newcomers.

According to the NBR, the list featured 13 billionaires in 2018.

Sneaking into the billionaire club for the first time on a neat billion dollars was the Drury family, whose shares in Xero almost doubled in the last year.

There was also massive growth for the Mowbray family, whose net worth shot up from $300m to $1b this year.

Another prominent billionaire on the list was Richard Chandler, whose net worth skyrocketed from $2b in 2017 to $4.7b in the latest rundown.

There were also six casualties, who fell out of the rich list this year. This included the Chow Brothers, whose membership was suspended after the NBR decided to take a closer look at their financial situation following their decision to de-list from the NZAX.

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