Zuru founders Nick and Mat Mowbray have retained their spot as the richest New Zealanders, according to the National Business Review’s Rich List.
The latest NBR Rich List, published today, estimated the Mowbrays’ net worth at $20 billion.
The Mowbrays founded the toy manufacturing company in 2003, along with sister Anna Mowbray.
Former perennial richest New Zealander Graeme Hart, who has built a packaging empire, was second with an estimated net worth of $12.1b.
For the first time, NBR also launched its Women’s List, profiling 14 of the country’s leading, and most successful, businesswomen.
Anna Mowbray is New Zealand’s 47th richest person, and second richest individual woman, with a net worth of $500 million.
Mowbray and her partner Ali Williams are co-owners of football side Auckland FC, along with billionaire American businessman Bill Foley.
Lucy Liu was New Zealand’s richest woman, and 30th richest individual, with an estimated worth of $700m.
Liu, who was born in China and now lives in Australia, went to high school in Auckland at St Cuthbert’s. She is co-founder of fintech company Airwallex, which was valued at more than $10b in a capital raise just last month.
The 2025 Rich List profiled 119 Kiwi individuals and families with a total valuation of $102.1b, up from $95.55b last year.
This year’s list featured a dozen newcomers, including Crimson Education co-founder Jamie Beaton, whose company was valued at more than $1b in a capital raise last November.
Beaton’s net worth was estimated to be $220 million, placing him 112th on the list.
“The country’s Rich Listers together employ thousands of people and generate billions of dollars of economic activity,” said NBR Rich List editor Hamish McNicol.
“The Rich List celebrates those individuals and families, telling in-depth stories of how they have built their enterprises, how they are tackling global economic volatility, and what they are investing back into their communities.”
Other notable Kiwis to feature on the Rich List were filmmaker Sir Peter Jackson and Dame Fran Walsh, who are fifth richest with a net worth of $2.6b.
Former Trade Me founder Sam Morgan placed 28th on the Rich List with an estimated net worth of $750m. Morgan sold Trade Me in 2006 to Australian media company Fairfax for $700m.