Wine moguls thrive in hard year

Most Marlborough-linked wine magnates listed in this year's National Business Review Rich List managed to increase their wealth in a tough year for the wine industry.

Siblings Jim and Rosmari Delegat, owners of Oyster Bay Vineyards Marlborough and who own much of the NZX-listed Delegat's Wine Estate dropped to 39th this year, while increasing their net worth by $35 million to $150m.

Villa Maria Estate founder George Fistonich, of Auckland, was on a par with the Delegats last year but has dropped off to 41st while increasing his worth to $130m.

The Christchurch-based Giesen family, of Giesen Wines, lost $20m of their net worth last year leaving them at 44th with $110m.

Seddon entrepreneur Peter Yealands' farming, wine and property holdings remained steady at $75m, although his ranking on the list dropped from 45th to 51st.

Marisco Vineyards owner the Marris family have increased their worth $5m to $80m after what Brent Marris called "a cracker year". They were 50th on the list.

The Babich family, of Auckland, increased their worth $5m to $70m this year. They also increased their shareholding in Rapaura Vintners, near Blenheim, to a 50-50 holding with Australian drinks giant Foster's and saw themselves in a strong position. The family were 53rd on the list, down from 48th last year.

Berkeley University economics professor David Teece was 33rd on the list with $190m, 10m more than last year. Mr Teece was raised in Blenheim. It is understood his father managed Nelson Transport which became TNL, and the family lived on the former Radio Network site on Kinross St.

Meanwhile, Motueka-based agribusiness family the Talleys, who own a processing plant near Blenheim, slipped to 22nd from 20th last year.

However the family increased their worth by $10m to $300m.

Prime Minister John Key made the list again with the same $55m net worth as last year, however he fell five places to 55th.

Overall, the total wealth represented on the rich list was $45.2 billion, up from $38.2b recorded in 2010. For the 151 rich listers in 2011, there were 99 men, four women, 41 families and seven pairs. The threshold for inclusion on the rich list remains $50m.

- The Marlborough Express

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