The National Business Review is announcing it’s rich list index for the 30th consecutive year, with some new faces popping up amongst those whose wealth comes from transport, logistics, construction, and agriculture.
While some people have seen their wealth grow, or remain unchanged from 2015, others have also seen their net worth plummet as dictated by the fortunes of global trading and the share market.
Last year’s new entrant EROAD chief executive Steve Newman who holds 27% of the company with his wife, has seen his personal fortune drop from $100 million in 2015 to $60 million in this year’s index on the back of the company’s performance.
EROAD provides an electronic solution to manage and pay road user charges for all types of diesel vehicles in New Zealand.
But the fortunes of more established family holdings remain relatively constant.
The Goodman Family have remained at number 7 on the list climbing from a new worth of $1.2 billion in 2015 to $1.35 in 2016 according to the NBR.
The Goodman Group controls more than $30 billion in commercial and industrial property assets including warehousing and offices for transport and logistics operators.
Former logistics entrepreneur, Sir Owen Glenn, had a valuation of $400 million in the 2016 index down from $450 million in 2015.
The Fulton family which has interests in civil construction company Fulton Hogan has a recorded wealth of $420 million, unchanged from 2015.
The Gough family which owns Gough Group a transport, agricultural, forestry, mining and construction equipment sales and service provider, notably with the Caterpillar brand, has a recorded wealth of $365 million, again unchanged from 2015.
Volkswagen commercial vehicle importer and retailer Sir Colin Giltrap, who presides over the Giltrap Group, sits at the same figure as last year of $360 million.
The Manawatu-based Higgins family who is in the middle of selling their civil works business operation to Fletcher are valued at $360 million in the NBR Rich List.
The founder of global logistics operator Mainfreight, Bruce Plested, comes in with a net worth of $300 million up from $270 million in 2015.
The Johnstone Family, who has a significant stake in Fulton Hogan, are again valued at $285 million by the NBR.
The Richardson Family, which owns South Island based transport and logistics company HW Richardson Group, has increased to $295 million from $285 million in 2015.
The Stevenson family (Stevenson Group) with interests in quarrying, road construction, and aggregate transport have also seen their wealth increase to $270 million from $260 million in the 2015 list.
The Drinkrow family (Kaipara Limited) have increased in value to $265 million up from $250 million in 2015. The family business has transport interests along with commercial property, quarrying, and residential development.
The Waikato-based Gallager Family with interests in agribusiness and manufacturing is valued at $180 million for 2016.
The notoriously private family of the late Peter Spencer have a net worth of $150 million according to NBR. The family received unwanted attention recently when its farming operation Rimanui Farms purchased Lochinver Station from the Stevenson family after a potential Chinese deal fell over.
The automotive business interests held by the late Peter Spencer’s family include distribution of Honda Motorcycles, Hyundai cars and trucks, Renault cars, and light commercial vehicles, and Isuzu Ute brands.
Listed again at $120 million for the second consecutive year, the Gibbons family are a major shareholder in the Colonial Motor Company, which distributes and retails Kenworth and DAF heavy trucks as well as New Holland, Kubota, and Case IH tractors and equipment.
Car-collection mad Richard Balcombe-Langridge is the owner of Metropolitan Rentals (which specialises in light to a medium truck and van rentals), has seen his value jump up to $95 million in 2016.
The Fletcher family which has interests in Fletcher Building and Construction, founded more than 100 years ago, has a value of $90 million, again unchanged from 2015.
