Eamon Cleary, a property developer often in the news over Arrowtown projects, is easily the wealthiest person in the region, with his fortune unchanged at $2.1 billion.
Originally from County Monaghan, in Ireland, Mr Cleary is third on the New Zealand rich list, behind Graeme Hart ($6 billion) and the Todd Family ($2.6 billion).
Record high dairy prices and land values have rapidly boosted Mr Cleary's wealth from the $280 million he had amassed by 2006.
The list has two new Otago entrants this year, Queenstown-based investor and former mayor John Davies ($50 million) and Queenstown property developer John Martin ($50 million).
Businessman and golf promoter Michael Hill increased his wealth by $80 million to $235 million, with the Paterson family up $30 million to $195 million.
The McConnon family's wealth rose $30 million to $140 million.
Forsyth Barr chairman Eion Edgar, of Queenstown, in-creased his wealth by $30 million to $95 million.
Scenic Circle Hotels operator Earl Hagaman, who lives in Christchurch but owns and operates hotels in Dunedin and Queenstown, remained unchanged on $160 million.
Newspaper publishers Julian and Nick Smith increased their wealth by $5 million to $75 million.
Arrow International founder Ron Anderson went up $5 million to $65 million and the Skeggs Family remained unchanged on $65 million.
Sir Tim Wallis, Skyline Enterprises chairman Barry Thomas and Dunedin businessman Graeme Marsh were all worth $60 million, with Mr Thomas up $10 million and Mr Marsh $5 million.
South Canterbury Finance chairman Alan Hubbard, who has ties to Dunedin, increased his wealth in the year by $250 million to $650 million.
Rich List editor Andrea Parker said despite a global financial downturn, the overall wealth on the 2008 NBR Rich List had increased $5.8 billion to $44.4 billion.
"Overall, the rich have still got richer. The pertinent question is whether we are at the beginning, the middle or the end of it all. Depending on the answer, the impact on our Rich Listers over the next year or years may be interesting indeed."
Lynette Erceg features on the list as a billionaire in her own right, the first woman to do so, Ms Parker said.
Mrs Erceg played a key role in overseeing the sale of her late husband Michael's Independent Liquor chain and had started investing the proceeds in wine and property.
She was the only new entrant to the exclusive billionaire rankings this year, in seventh equal place with Russia-based investment banker Stephen Jennings.
National Party leader John Key makes the list for the first time, with assets of $50 million.
Mr Key owns properties in Auckland, Wellington and Omaha, as well as an apartment in London and a newly-acquired $US3.25 million ($NZ4.37 million) holiday home in Hawaii.
