30 Jul 2010

Notable changes on NBR Rich List

8:11 pm on 30 July 2010

The annual Rich List published by the National Business Review has some significant changes from last year, with two former high flyers off the list altogether.

They are South Canterbury businessman Allan Hubbard, who is in statutory management, and Wellington property developer and Phoenix football team owner Terry Serepisos, because NBR says it could not accurately asses their value.

Newcomers to the list include technology businessman Rod Drury and property developer John Sax of Southpark Corporation.

Despite the changes, the Rich List has remained stable overall, led by Graeme Hart on $5.5 billion and the Todd family on $2.7 billion.

Agri-businessman Eamon Cleary again takes third place with an estimated $2 billion fortune.

NBR editor-in-chief Nevil Gibson told Morning Report the key to being on this year's list has been maintaining wealth.

He also said it was good to see some new people emerging despite tough economic times.

This year's list numbers 150: 100 men, three women, 39 families and eight couples.