Automotive families amongst New Zealand’s wealthiest

The National Business Review has published its rich list, outlining the top 100 most wealthy individuals/families in the country. Five groups in the list have current or former automotive holdings.

Headlining the list are Mat and Nick Mowbray of Zuru fame with an estimated $20b, edging out Graeme Hart sitting on $12.1b.

The Todd Family whose sold its interest in Mitsubishi back to the parent company in the late eighties, places at number three on the rich list. With a net worth in excess of $4 billion, the family has its investments in energy, minerals, property, healthcare and technology.

The Fukutaka family, behind Drive Electric, is eighth on the list, with an estimated net worth of $1.6 billion.

Next among those with an automotive bent is the Christchurch-based Gough family. They were involved with Caterpillar Inc. and have an estimated net worth of $550 million. That puts them in position 35 on the rich list.

Coming in soon after is the Giltrap Family (41st on the list), with an estimated net worth of $480 million. That’s up from $475m in 2023.

In position 67 is the family of a former Nissan dealer in Morrinsville, the Mabers. The family is behind the multinational Power Farming Group, dealing in agricultural machinery. Their estimated net worth is $340 million.

The family of the late Peter Spencer, which has local distribution rights for Hyundai, Isuzu Ute and Renault, is no longer on the 2024 rich list.