Graeme Hart slips down Forbes Rich List

Businessman Graeme Hart is still New Zealand's richest man, despite dropping 41 places on Forbes magazine's annual rich list.

Mr Hart, 55, was ranked No 185 on the American business magazine's latest list of world billionaires with a net worth of US$5.5 billion ($7.46 billion).

He was ranked No 144 last year, with US$5.3b.

Mr Hart, once a tow-truck driver, owns investment company Rank Group, which runs a global beverage packaging business.

Two other New Zealanders, investment company-owning brothers Richard and Christopher Chandler, also featured.

Richard Chandler jumped 19 places to No 288 with US$3.8b, while his brother rose 58 places to No 879 with US$1.4b.

The Chandlers were raised on a New Zealand farm by a Croatian mother and a father who once worked as a beekeeper before founding a department store.

In 2006, the pair ended a 20-year partnership running investment portfolio Sovereign Global, with each taking half the assets.

Mexican telecommunications tycoon Carlos Slim Helu topped this year's rich list with US$74b, followed by Microsoft co-founder Bill Gates with US$56b and American investor Warren Buffett with US$50b.

 

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