Waikato-born Chandler drops to second on Rich List

Waikato-born investment banker Richard Chandler has dropped to number two on the National Business Review Rich List.

Chandler is valued at $3.7b, $1.3b less than last year.

Auckland business tycoon Graeme Hart is back at No 1 after being usurped by Russian steel magnate Alexander Abramov last year.

The packaging tycoon's wealth is estimated to be $6.4b, an increase of $400 million from last year.

The Todd family ($2.9b) and Chandler's brother, Christopher ($1.3b), maintained their wealth to be third and fifth respectively.

Philanthropist Sir Owen Glenn - in the spotlight recently over his family violence inquiry - remained in eighth place with his $900m fortune.

 John Key is hanging on in last place on the list.

Key is valued at $50m, the same as last year after his estimated fortune fell from $55m in 2011 to $50m in 2012.

Key first made the Rich List in 2008 with an estimated wealth of $50m. The Prime Minister had rejected the accuracy of the list in past years.


1. Graeme Hart, $6.4b.

2. Richard Chandler, $3.7b.

3. Todd family, $2.9b.

4. Erceg family, $1.6b.

5. Christopher Chandler, $1.3b.

6. Goodman family, $1b.

7. Michael Friedlander, $950m.

8=. Sir Owen Glenn, Stephen Jennings, $900m.

10. Sir Douglas Myers, $880m.