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Home >> Local News >> Local News

Bay residents join NZ’s rich list

Posted at 12:22pm Friday 27 Jul, 2012

Mount Maunganui based dairy farm owners Colin and Dale Armer have made it onto this year's NBR Rich List with an estimate fortune of $200million.

The Armers ranked 49th on the annually released list, which recognises the 200 wealthiest people in New Zealand.


Mount Maunganui based dairy farm owner Colin Armer (inset) is on the NBR NZ Rich List.

Raised on a Te Puke dairy farm Colin had his first dairy herd, and mortgage before he was 20-years-old.

Colin is now a director of the world's largest dairy company Fonterra, and with Dale and two others, control Dairy Holdings which owns 58 south island dairy farms.

The Armers also made the news last month when their North Island company Armer Farms Ltd was fined over an effluent discharge on a Maketu farm. Armer Farms Ltd owns 13 dairy farms.

Tauranga property developer Paul Adams is also on the list again.

Paul is the director of the Carrus Corporation and is estimated by NBR to be worth $115million.

Graham Hart remains the wealthiest New Zealander on the list with an estimated fortune of $6billion.

The total value of the National Business Review Rich List 2012 rises this year from $45.2bn to $57.7bn. The increase is a result of NBR's decision to include foreign investors in its acknowledgement of what the very wealthy have achieved with confidence and commitment in this country.

Four internationals - industrial technologist Alexander Abramov, investor Julian Robertson, winemaker William (Bill) Foley and horse breeder Dowager Duchess Henrietta Bedford - are in the top ten.

Other first timers joining the Armers include filmmaker James Cameron and Auckland-based hoteliers, the Pandey family and the Jhunjhunwala family.

The international additions to this year's National Business Review Rich List 2012 have invested significantly in this country, and most have invested sufficiently in New Zealand to earn residency rights.

Minerals and steel magnate Alexander Abramov ($7bn) is building a $40 million luxury waterfront home in the Bay of Islands. Julian Robertson ($3bn) owns three luxury lodges, one each in the Far North, in Hawkes Bay and in Queenstown, and has donated a superb collection of art to the Auckland Art Gallery.

William Foley ($1.5bn), who is adding New Zealand wineries to his Californian collection, has his luxury lodge Wharekauhau in the Wairarapa, just minutes by helicopter from the Wairarapa home-base of filmmaker James Cameron ($900mn).

Waikato-based Dowager Duchess Henrietta Bedford ($900mn) has extensive property interests throughout New Zealand and maintains close ties with the racing set.

NBR Editor-in-Chief, Nevil Gibson says the achievements of those on this year's Rich List should be celebrated, especially when many have lost the bulk of their savings with unwise investments and others, the lucky ones, have been bailed out by taxpayers, adding more debt for future generations.

“Those on the National Business Review Rich List 2012 invest diversely and generously in art and culture, education and employment opportunities and social services,” he says. “Along with the newcomers to the National Business Review Rich List 2012, we are also seeing billionaires on other country's lists showing an interest in New Zealand and, once they get here on business, they tend to find this a great place for pleasure.”

 

This year's National Business Review Rich List 2012 is available on sale for $9.95 at magazine stores and supermarkets nationwide from Friday 27 July.


COMMENTS

oh well

Posted on 27-07-2012 16:28 | By traceybjammet

good luck to them all. and for the rest of us lets get creative, work harder and knock them off the list and put our families up there

Oh well.....

Posted on 27-07-2012 12:28 | By penguin

Not easy to get on the rich list these days when on a benefit or the minimum wage.....

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