Allan, Terry ... you're fired

Two high-profile businessmen are missing from this year's rich list because of uncertainty about their net worth, but two familiar Waikato faces made it into the top 10.

The National Business Review, has dropped Allan Hubbard and Terry Serepisos from its 24th annual list issued today.

NBR said although both were still worth a considerable amount, Mr Hubbard, South Canterbury Finance life president, was at present in statutory management and property developer and Phoenix soccer club owner Mr Serepisos had had well-publicised cashflow issues.

Former Waikato brothers Christopher and Richard Chandler made it into the top 10 however, coming in at fifth equal, worth $1.4 billion, but down from $1.8b last year.

The brothers hail from Matangi, south of Hamilton, and have homes in Dubai and Monaco.

They were recently named 307 on the Forbes annual list of the world's billionaires. Other Waikato names to make the NBR list include the Vela family at 29 equal on $180 million, and the Foreman family, on 31st-equal with $165 million. The Gallagher family increased their worth by $40 million in the past year to reach 32nd-equal on $160 million.

The Wallace family and Sir Patrick Hogan maintained their wealth at $100 million and came in at 40th.

The Perry family were also still on $75 million at No45 on the list.

Manufacturer Gilbert Ullrich increased his worth by $5 million, 49th-equal on $60 million.

The 2010 list welcomes two newcomers, technology businessman Rod Drury, whose family trust is the biggest shareholder in accounting software company Xero, and property developer John Sax, whose investment through his Southpark Corporation has resulted in a spectacular portfolio.

There are six billionaires on this year's list.

These are packaging king Graeme Hart, with a value of $5.5 billion, who tops the list, the Todd family, with a value of $2.7 billion, Irish farmer and property investor Eamon Cleary, with a value of $2 billion, New Zealand's richest woman Lynette Erceg, and the Chandlers.

- © Fairfax NZ News