The National Business Review has announced its annual Rich List for 2018, and there are again a few familiar names in the mix.

The latest edition of the prestigious rundown of billionaires exceeded $100 billion for the first time, as numerous previous records fell.

Watch NBR's live stream here.

The combined total net worth of the rich listers came in at $100.8b, up from $79.9b in 2017.


The richest person on the list was again Graeme Hart, with the billionaire consolidating his place at the top by adding $1.5b his fortune, which now sits at $9b.

Graeme Hart has again topped the NBR Rich List. Photo / Supplied
Graeme Hart has again topped the NBR Rich List. Photo / Supplied

The NBR's list featured 13 billionaires in 2018.

Sneaking into the billionaire club for the first time on a neat billion dollars was the Drury family, whose shares in Xero almost doubled in the last year.

There was also massive growth for the Mowbray family, whose net worth shot up from $300m to $1b this year.

Another prominent billionaire on the list was Richard Chandler, whose net worth skyrocketed from $2b in 2017 to $4.7b in the latest rundown.

There were also six casualties, who fell out of the rich list this year. This included the Chow Brothers, whose membership was suspended after the NBR decided to take a closer look at their financial situation following their decision to de-list from the NZAX.

Rise of the newcomers

There were 34 newcomers on the list, contributing a total $5.89b to the overall amount.

Among the newcomers was basketball star Steven Adams, who, with a net worth of $50 million, was the only New Zealand sports star to make the cut.


The wealthiest newcomer on the list was American investor Ric Kayne, whose value in New Zealand was measured by NBR at $1.8b.

Los Angeles-based Kayne is the man behind world-class Tara Iti Golf Club which has attracted a string of high-profile guests including former US president Barack Obama.

Tara Iti, located near Mangawhai north of Auckland, was earlier in the year ranked as one the world's best golf courses, listed 11th out of 200 of the best.

The property was once part of a commercial pine forest in the Te Arai North Precinct and was bought from local iwi in 2012 for $10 million.

Philanthropist and property magnate Mark Dunajtschik is the second richest newcomer to NBR's Rich List with an estimated total wealth of $300m.

Dunajtschik began investing in the property industry at age 57 and last year told the Herald he did so "as a hobby".

The 82-year-old concentration camp survivor now has a vast Wellington property portfolio including a 17-storey Asteron Centre on Featherston St and the Lambton Quay building.

He last year donated $50 million to build a children's hospital.

Bei Wong and Jeffrey Hing have amassed a combined $280m through property investments. The Singaporean property investors recently purchased a farm in Northland and have been investing in New Zealand since 1999.

The Smith family have an estimated combined wealth of $250m, earned through ventures in engineering and the construction sector.

The family owns and manages multiple crane businesses in New Zealand and Australia including Universal Cranes and the Smithbridge Group.

NBR estimates that the Smale family, who own the Smales Farm commercial retail park on Auckland's North Shore, have a combined mass of $250 million. The land was purchased in 1944 and visions for what it is today were formed in the 1990s.

Another newcomer was Perpetual Guardian's Andrew Barnes, who this year made headlines for giving his staff a four-day week on full pay. His net worth came in at $150m, putting him in 10th position among the newcomers.