PHOTO: Anna Mowbray. FILE
🧨 Zuru brothers keep top spot, Jamie Beaton joins the billionaires, and women finally get their own rich list.
💹 Aotearoa’s Wealthiest Soar to Record $102.1 Billion — Despite Tough Year
The 2025 NBR Rich List has dropped, and despite a financially rocky 12 months for many Kiwis, New Zealand’s richest individuals and families are wealthier than ever.
According to the National Business Review, the combined wealth of the country’s richest now sits at $102.1 billion, up from $95.55 billion in 2024 — that’s more than 40% of the nation’s GDP.
NBR co-editor Hamish McNicol says the growth of existing fortunes and a wave of new entrants helped push the total higher. “There are some notable winners… but also some who are struggling,” he said.
👑 Billionaire Brothers Still on Top: Zuru’s Mowbray Duo Valued at $20B
Leading the rich pack once again are Nick and Anna Mowbray, co-founders of Zuru Toys, who hold the #1 spot with a colossal $20 billion valuation.
Meanwhile, the number of billionaires in Aotearoa has risen to 18, up from 16 in 2024.
🆕 Newcomers Worth $4.3B Join the Elite Club
About a dozen newcomers have entered the 2025 Rich List, collectively worth $4.3 billion.
Among them is Jamie Beaton, co-founder of Crimson Education, whose company surpassed $1 billion valuation after a capital raise in late 2024.
Others include long-time family-run business operators who have steadily built up their wealth over decades.
📈 “These are not overnight success stories. Many of these newcomers have been quietly grinding away for years,” McNicol said.
https://www.youtube.com/shorts/1CDrN3cJuqI
⚠️ Retail Titans Hit Hard, Wine Moguls No Longer Billionaires
Not all the rich have been immune to economic pressure. Retail magnates like Briscoes’ Rod Duke and The Warehouse’s Sir Stephen Tindall are among those reported to be struggling.
Even more dramatically, Jim and Rosemari Delegat of the Delegat Group have seen their net worth slashed from billionaire status to $235 million, largely due to new U.S. trade tariffs.
🏠 Property Investors Still Winning Despite ‘Interesting Times’
Some on the list have profited from property investments, navigating the turbulent commercial and residential sectors to expand their fortunes. This reinforces what many already suspect — property remains a pillar of Kiwi wealth.
👩💼 Finally, A Women’s Rich List — and It’s Long Overdue
For the first time since 2019, two women feature in their own right on the main list:
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Anna Mowbray (former Zuru co-founder)
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Lucy Liu, co-founder of global fintech Airwallex, which recently hit a $10 billion valuation
In a much-needed move, NBR has also launched its first-ever Women’s Rich List, profiling 14 female business leaders estimated to be worth $20m–$100m each.
💬 “We recognised women weren’t being profiled enough… We wanted to change that,” McNicol explained.
🇳🇿 Luxon: “We Should Celebrate Kiwi Success”
Prime Minister Christopher Luxon weighed in, saying the growing number of billionaires is a positive sign.
✨ “Isn’t it fantastic that we have got people with ambition, aspiration and positivity? We should be celebrating success,” Luxon said.
“At the same time, we know Kiwis are doing it tough — and the government is working hard to create growth conditions.”
No politicians made the rich list, NBR confirmed.
📊 Key Stats from the 2025 NBR Rich List
| 📌 Metric | 💸 Value |
|---|---|
| Total Net Worth | $102.1 billion |
| Increase from 2024 | +$6.55 billion |
| Billionaires | 18 (up from 16) |
| Newcomers | ~12 |
| Total Wealth of Newcomers | $4.3 billion |
| Women on Main List | 2 |
| Women in New Women’s List | 14 |
🔗 More from NBR:
🧠 Final Thought: The 1% Keep Rising, But So Does the Spotlight
The NBR Rich List has once again confirmed that wealth isn’t disappearing — it’s concentrating. With the country facing ongoing economic stress, this year’s rankings will spark debate, admiration, and maybe even a little envy.