Steve Outtrim is unlikely to be the richest New Zealander after all.
A gradual selldown of his shareholding in the software company he founded means he stands to gain "just" $163.6 million form a big corporate deal this week in Australia.
The Herald wrongly reported yesterday that his previously known shareholding in Sausage Software meant he could have taken home up to $900 million from the deal. That would have put him ahead of brewery baron Douglas Myers, estimated last year to be worth $525 million.
But the Sausage headquarters in Melbourne confirmed yesterday that Mr Outtrim had disposed of most of his holding in the past few months. It was down from 44.8 per cent to just 8 per cent at the time of the deal - a value on paper of $163.6 million.
To that figure would have to be added the money he gained from the earlier series of share sales, the values of which has not been disclosed.
His total fortune would certainly make him one of the top New Zealand tycoons - a far cry from being unemployed six years ago.
Outtrim is rich, not richest
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