Richest individual south of Waitaki

Jewellery entrepreneur Michael Hill is again the richest individual south of the Waitaki River but he narrowly misses out being the richest overall, with the Richardson family, of Southland, edging him out of that spot by a mere $10 million.

The National Business Review lists Mr Hill as being worth $170 million, the same figure as in 2009.

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NBR writes about the closures of some shops in the United States, bad press over a recruitment seminar in Auckland, and the potential loss of the New Zealand Golf Open from The Hills, his privately owned course at Arrowtown.

However, sharebrokers still look on Michael Hill International favourably and had no issues with the company when contacted yesterday.

Mr Hill is admired for his decisiveness in business. If something is not working, he does not hesitate to make changes.

The Richardson family owns HW Richardson Group. The family, worth $180 million, used the early part of the year to expand the business, buying both Kauriland Petroleum, based in Whangarei, and McCormicks Transport, in Ashburton.

With its Allied Petroleum subsidiary, HW Richardson was the fuel and lubricants distributor for Mobil throughout the South Island and the lower half of the North Island. The Kauriland addition means the company is now the nationwide distributor for Mobil, with 61 more service stations, along with direct sales to farms and other commercial enterprises.

The next richest individual living south of the Waitaki is Queenstown-based investor and philanthropist Sir Eion Edgar, worth $95 million.

Sir Eion is said to be a consummate networker and ceaseless worker for his charities and community organisations which span the gamut from sports to the arts and health research.