Pensioner at loggerheads with Rich List Kiwi oligarch

Stephen Jennings

It’s been a bizarre year for NBR rich-lister Stephen Jennings, the 50-year-old Russian-domiciled New Zealander worth an estimated $900 million.

First, his ex-wife Tina, who exited a few years ago, started dating 80-year-old Lord Nigel Lawson, one-time Chancellor of the UK Exchequer and father of celebrity chef Nigella Lawson.

And now another octogenarian has unexpectedly entered his life, this one accusing him of being a negligent neighbour.

Eighty-six-year-old Dr John Valentine is taking Mr Jennings to task over a tree which is marring the view from his seaside home at Oakura in Taranaki.

The offending pohutukawa tree sits in the grounds of Mr Jennings' luxury beachfront holiday home, which is just across the road from the retired doctor.

Dr Valentine has twice written to Mr Jennings' father asking him to get his son to trim the tree but has received no reply.

Which is not surprising given that Mr Jennings junior has lived in Russia for the last 20 years and appears to be an infrequent visitor to his New Zealand bach.

What Dr Valentine plans to do next to get the tree trimmed is up in the air, but it would be a brave man who took Mr Jennings to court over it.

The man dubbed the “Kiwi oligarch” may have dropped five places on the NBR Rich List but he has still got a huge war chest, despite shelling out an estimated $122 million to ex-wife Tina.

He has also got a reputation as a battler who doesn’t like being beaten, having earned and lost two fortunes on the volatile Russian markets.

At one stage he was the richest New Zealander in the world, with Forbes magazine estimating his wealth at $5.2 billion.

Now, of course, he’s down to his last $900 million – more than enough to hire an arborist, you’d think.

So, Mr Jennings, if you happen to read this story on your laptop or iPhone somewhere in Russia, please spare a thought for Dr Valentine in Oakura.

Making amends with him won’t cost nearly as much as someone else who was once in your life.

This article is tagged with the following keywords. Find out more about My Tags

Post Comment

6 Comments & Questions

Commenter icon key: Subscriber Verified

Trim a pohutukawa? Sacrilege! It's probably got a rare species of tree frog in it, like the ones on the Denniston plateau.

Call the Greens.

Reply
Share

Is "battler who doesn't like being beaten" a euphemism for "thug"?

Just wondering given where he is "domiciled".

Reply
Share

Rod - was it wise to say this "battler" was "dumped" by his wife" ....?

Reply
Share

so, your article sez: 'he has a reputation as a battler who doesn't like being beaten'....let's look at some fact here - has lost about 4 billion of his fortune, shells out 122 mil to his ex missus, and then sees her run off with an octogenerian.

i reckon he should get an aborist to top that pohutukawa immediately, before the 86yo dr. valentine takes him to the cleaners!

Reply
Share

The bloke next door to me had an affair with the other neighbour plus hes worth about $350 (total) and I don't like his greenhouse in my view. Can you publish that story as I'm sure its of vast interest to the business fraternity

Reply
Share

Where's Jennings' property? I wanna have a look on google maps!

Reply
Share

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7740 -0.0003 -0.04%
AUD 0.9511 0.0005 0.05%
EUR 0.6324 -0.0002 -0.03%
GBP 0.4954 0.0001 0.02%
HKD 6.0039 0.0001 0.00%
JPY 92.5100 -0.0050 -0.01%

Commods

Commodity Price Change Time
Gold Index 1195.4 -2.890 2014-12-19T00:
Oil Brent 61.4 2.110 2014-12-19T00:
Oil Nymex 57.1 2.740 2014-12-19T00:
Silver Index 16.0 0.090 2014-12-19T00:

Indices

Symbol Open High Last %
NZX 50 5518.5 5545.0 5518.5 0.17%
NASDAQ 4752.6 4782.1 4748.4 0.36%
DAX 9901.3 9901.3 9811.1 -0.25%
DJI 17778.0 17874.0 17778.2 0.15%
FTSE 6466.0 6566.9 6466.0 1.23%
HKSE 23158.3 23189.6 22832.2 1.25%
NI225 17511.0 17621.4 17210.0 2.39%