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NBR releases its Rich List of wealthy Kiwis

NBR releases its Rich List of wealthy Kiwis

1News09-06-2025
The National Business Review annual rich list has found Aotearoa's wealthiest people are collectively worth more than $100 billion - up from $95.55 billion last year - despite a tough 12 months financially.
Around a dozen newcomers, worth $4.3b altogether, are among the 119 individuals and families profiled in the 2025 NBR Rich List.
The co-founders of Zuru Toys, the brothers Nick and Mat Mowbray, meanwhile, retain the top spot with a $20 billion valuation.
Overall, New Zealand now has 18 billionaires, up from 16 last year.
NBR co-editor Hamish McNicol said the addition of the newcomers, as well as growth among some of the country's wealthiest, had pushed the total valuation of this year's Rich List to $102.1b, more than 40% of the nation's GDP.
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Those on the newcomers list include Jamie Beaton, after the company he co-founded, Crimson Education, was valued at more than $1b in a capital raise last November.
He is alongside several families who McNichol said have been operating and building businesses over the last few decades.
Retail rich listers 'struggling'
He said there were "notable winners" but also a number of rich listers were "struggling, as well".
They included retailers, such as Briscoes director Rod Duke and Warehouse founder Sir Stephen Tindall.
Others had had their fortunes slashed after the US trade tariffs were introduced, he said, including Jim and Rosemari Delegat, the siblings who run winemaker Delegat Group and export around half their product.
"They were billionaires a couple of years ago, but we've assessed their worth at about $235 million as with tariffs coming in they're struggling a bit at the moment."
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Some property rich listers had done well by investing in the sector, despite the "interesting times out there for commercial and residential property at the moment".
The women's rich list
Lucy Liu of Airwallex in 2019 (Source: Getty)
The 2025 rich list included two women, featured in their own right, for the first time since 2019, when a $100m threshold was introduced, McNichol said.
They are: Anna Mowbray, former Zuru co-founder who has since built a wide-ranging portfolio of investments, and Lucy Liu, the co-founder of global online payments company Airwallex. Liu's company was valued at more than $10b in a capital raise in May.
This year NBR has also launched a Women's Rich List, McNichol added.
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"We recognised we were not profiling many women as part of the overall rich list and there's a bunch of research out there about how women generally find it a lot more difficult to raise capital, and build businesses because of a whole bunch of systemic things.
"We wanted to highlight some of the country's top businesswomen this year, and we've profiled 14 as part of this year's rich list. We roughly estimate they're all worth between $20 and $100 million. It's a group of people to watch, as well."
PM says billionaires should be celebrated
Asked about the increase in billionaires in the current economic crisis, Prime Minister Christopher Luxon said it was something that should be recognised.
"Isn't it fantastic that we have got people with ambition, aspiration and positivity, and we should be celebrating success. I know how hard people work in New Zealand, and there [are] some pretty inspirational stories.
"As a country we want people to be able to move themselves from one set of circumstances to a better set of circumstances, and it's okay to celebrate this success.
"But I just also say to you that I know New Zealanders are doing it tough and it's important that we are doing everything we can as a government to create the conditions for growth. That's what we have been doing and that's what our Budget is doing."
McNicholl said that no politicians have made the list this year.
rnz.co.nz
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The bouncer at the door: Protecting your network from within
The bouncer at the door: Protecting your network from within

Techday NZ

time01-08-2025

  • Techday NZ

The bouncer at the door: Protecting your network from within

Imagine for a few minutes that you are the owner of an exclusive club where business VIPs gather to share information and relax. And then assume that you hired the best security detail – a "Bouncer" – to stand at the door and ensure you know exactly who comes and goes and keeps everyone safe inside. Maybe picture some combination of Daniel Craig, Lucy Liu and Duane Johnson – that's your Bouncer. At first, you shower the Bouncer with praise and money for creating a secure environment that helps draw people. Now imagine that after a couple years, you take the Bouncer's presence and influence for granted, and you stop praising and paying. In time, the Bouncer is willing to trade entry for cash "tips" and eventually stops caring altogether who comes in and what happens when they get there. Neglect has turned your guardian into a hidden monster at your door. Network security is a lot like that. In a world obsessed with fending off cyber-monsters - phishing attacks, ransomware, and sophisticated malware - there's one lurking danger that's often overlooked: outdated network security hardware. If you've got a firewall or other IT equipment in your closet that's past its prime, it might be doing more harm than good. With neglect, what was once the critical gatekeeper (a/k/a Bouncer) guarding your business can become the hidden monster in your closet. Forget the Hollywood-style breaches; the real nightmare scenario comes from an unmonitored, unpatched IT stack running outdated firmware. Who's watching your IT closet? How well do you know the IT Bouncer in your closet? Do you know who's responsible for keeping it running at its prime? Are you using current technology that guards you against the latest attacks? For many businesses, the answer to these questions is a resounding "no." 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Because when it comes to cybersecurity, prevention is always better than cure. The monsters in your closet aren't imaginary - they're outdated network devices just waiting to be exploited. Protecting your organization starts with understanding the risks and taking proactive steps to address them. By replacing EOL hardware, you're not just upgrading your network - you're securing your future.

Foodstuffs expands with $380m in projects, new North Shore Pak'nSave planned
Foodstuffs expands with $380m in projects, new North Shore Pak'nSave planned

NZ Herald

time24-06-2025

  • NZ Herald

Foodstuffs expands with $380m in projects, new North Shore Pak'nSave planned

New Zealand's biggest supermarket business has embarked on an Auckland and Christchurch expansion, via separate southern and northern co-ops. How much may be spent fixing or rebuilding the fire-damaged New World Victoria Park is not yet known but experts said anything from $20m to $50m could be needed if a full rebuild was undertaken, taking the spending to well above $300m. The South Island's biggest supermarket, the vast new Pak'nSave Rolleston, is due to open on October 14. Photo / George Heard Foodstuffs, which sells food and drink under the Pak'nSave, New World, Four Square, Gilmours and Liquorland brands, has a big programme for new and upgraded stores and distribution centres. Why? More customers, spending more. We are staying home to cook. We're not out as much as we were because of the economic downturn and some shopper habits have been permanently changed by Covid. A rare look inside the huge new Pak'nSave Rolleston this month. Photo / George Heard For example, New Zealanders are buying more frozen goods and more prepared meals, according to Kris Lancaster, Foodstuffs South Island's supply chain general manager. And he would know: he's in charge of the $28m development of the new frozen distribution centre at Hornby, a building to be chilled to -20C and which is due to open shortly. Foodstuffs South Island's new $28m automated freezer distribution centre. Photo / George Heard Foodstuffs North Island and Foodstuffs South Island, in their $380m-plus expansion and upgrade programme, have: Sought consent from Auckland Council for the $100m, 6000sq m Pak'nSave Takapuna on a reclaimed greenfields site, 6 Fred Thomas Drive opposite the Lake House. Application lodged last year; Developed and opened in February the new $100m Pak'nSave Highland Park; Developed the new $73m New World Pt Chevalier, set to open this September; Bought Woolworths Te Atatū to upgrade to New World Te Atatū; Developed and are opening the $40m+ Pak'nSave Rolleston near Christchurch this October; Developed the new $28m frozen distribution centre at Hornby, Christchurch, set to open on August 21; Refurbished and expanded the flood-hit New World Mt Albert for $6m; Opened the New Four Square Ōpunaki near New Plymouth in April, costing about $6m; Opened the Four Square Waipawa in Hawke's Bay last November, costing about $5m; Opened the Four Square Putāruru last November, costing about $5m; Opened the New World The Stands at Pāpāmoa on November 5; And developed the Gilmours Hawkes Bay, which was only a delivery service. Last month, it opened as a wholesale cash-and-carry store for customers in a $12.6m upgrade. 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Last July, the Herald listed eight new and replacement supermarkets for Auckland, Tauranga and Havelock North. Quintin Proctor was 38 when he bought the Pak'nSave Wairau Park, one of the country's largest supermarkets. Since then, Property Insider has visited Christchurch and seen the expansion there, viewing the distribution centre at Hornby and the new, nearly finished Pak'nSave at Rolleston. $18.66m Tauranga sale Simon Clark, Colliers managing director in Tauranga, has announced the sale of 262-266 Cameron Rd for $18.66m. The 4900sq m freehold retail property in the central city has four retailers: Noel Leeming, Chemist Warehouse, Animates and Elite Fitness. Clark congratulated Classic Collectives and the syndicate of investors who bought it. A commercial site in Tauranga that houses Noel Leeming, Animates, Chemist Warehouse and Elite Fitness has been sold for $18.6m. The property is a short walk from the CBD and home to four national tenants on long-term leases. That will give guaranteed rental growth and excellent exposure, he said. Clark worked with Colliers colleagues Rob Schoeser, Peter Herdson and Blair Peterken on the sale. Classic Collectives says it is a joint-venture company established with house-building business Classic Group. Deals at three Metlifecare sites Metlifecare's expansion is continuing, although some parts of its growth were only noted latterly. Two purchases and one sale were approved in the last three years but not announced till the end of May. The Overseas Investment Office (OIO) last month announced approved transactions for 2023 and 2024. A Metlifecare spokeswoman said the OIO must publish decision or notification summaries on its website but only announced the three new deals when it reviewed its records. Metlifecare CEO Earl Gasparich says the third-largest retirement village company has undergone a significant transformation behind closed doors over the past four years. The Springlands Lifestyle Village in Blenheim is an established village. A property at 42 Lakings Rd was bought to extend the village by building 24 new independent units. Construction has taken place over the past two years and is due for completion shortly, the spokeswoman said. A site in Hamilton's Rototuna at 135 Horsham Downs Rd was purchased to be developed. Construction of the first 29 villas is due to start in the next few months. This new village will have 72 independent living units, an aged care home and a communal amenity building. Stage one of the village is scheduled for completion by mid-2026. In the third deal, Metlifecare sold a property at 2-6 Emmett St, Shirley, Christchurch. This is an adjacent section to The Village Palms, an established village. 'We have recently entered into an agreement to sell the property,' the spokeswoman said. 'Settlement is scheduled for July.' Marutūahu-Ockham opens Kōanga Kōanga, the build-to-rent apartment block, opened in June in Waterview. The development is at 2 Oakley Ave, Auckland. Photo / Ockham The five-iwi Marutūahu collective, along with developers Ockham Residential, this month opened the 36-unit build-to-rent apartments, Kōanga. The bright yellow block is at 2 Oakley Ave, Waterview, behind the stylish, red-brick Kōkihi, which is above the Waterview motorway tunnels. The opening of Ockham development's new apartment block Kōkihi in Waterview, Auckland. Photo / Alex Burton Kōkihi at Waterview by a Māori/Pākehā joint venture. Photo / Alex Burton Ben Gibbons, Ockham's chief operating officer, said: 'The Ockham and Marutūahu partnership is having a profound impact on this wider area with beautiful and considered intensification, with Kōkihi and Aroha in such close proximity, and the first stage at Carrington Road, just over the creek, nearing completion.' Kōanga, the rental apartments, at 2 Oakley Ave, Waterview, Auckland. This project was opened in June. Photo / Ockham He was referring to blocks in Waterview and Avondale. The Kōanga build-to-rent apartments, developed at 2 Oakley Ave, Waterview, Auckland. The project was opened in June. Photo / Ockham The now-completed Ockham buildings are: The Ockham Building, 25 apartments, Kingsland Wilkinson House (see below) The Wamaka Buildings, Wilkinson Rd, Ellerslie, 18 apartments The Isaac, 75 apartments, Grey Lynn The Turing, 27 apartments, Grey Lynn Station R, 37 apartments, Mt Eden Hypatia, 61 apartments, Newmarket Daisy, 33 apartments, Mt Eden Bernoulli Gardens, 120 apartments, Hobsonville Set Buildings, 72 apartments, Avondale Tuatahi, 119 apartments, Mt Albert Modal, 32 apartments, Mt Albert Kōkihi, 95 apartments, Waterview The Nix, 32 apartments, Grey Lynn Koa Flats, 14 apartments, Meadowbank Aroha, 117 units, Avondale Manaaki, 210 units, Onehunga; Kōanga, 36 build-to-rent units, Waterview. Last month, people were invited to see inside Toi, the first, almost-completed apartment building at the new multi-billion dollar Maungārongo village in Ōwairaka Mt Albert. Toi, the new apartment building in Ōwairaka Mt Albert by Marutūāhu-Ockham, as at late February, 2025. Photo / Ockham Residential Marutūāhu-Ockham has got the new 65-unit Toi block up but not yet completed at Carrington, on ex-Unitec land. That is part of a wider scheme to build around 40 new apartment blocks with 3000 units in the next two decades. The new Toi apartment block in Ōwairaka Mt Albert by Marutūāhu-Ockham is nearing completion. Photo / Ockham Residential Toi is due to be finished later this year. But sales have been slow. By May, only a third of the units in the six-level block had been sold, even though Toi is due to be finished soon. 'We are 34% sold across this project, with a flurry of new interest this year,' an Ockham saleswoman said of Toi. 'We are looking forward to Q4, when the building is anticipated to be complete and we can hand over keys to the excited purchasers.' On this month's opening of Kōanga, Ockham said: 'The fifth Marutūāhu-Ockham development and the partnership's first build-to-rent project – it was a special day for us and for Waterview.' Anne Gibson has been the Herald's property editor for 25 years, written books and covered property extensively here and overseas.

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