Derek Jones’ aim was to provide a time-saving service to accountants and their small business clients.
When he co-founded BankLink he was trying to do away with the accountants’ time-consuming process of rekeying their clients’ bank statements into their practices’ computer systems. Instead Jones and fellow Rich Lister Malcolm Macdonald created software that made it possible to transfer the data directly to the accountants’ computer systems.
It worked, and MYOB thought so too – buying the company in 2013.
Jones made just over $50 million from his 37% stake. He promptly set up another software company, MTS Global, which picked up BankLink’s UK business. Its product, Bankstream, was acquired by US-based Intuit QuickBooks in 2016.
Other business interests include investments in two top Auckland eateries, cake store Rocket Kitchen and French pastry outfit Ma Cherie.
Jones has five properties in Auckland’s Mt Eden worth approximately $12.7 million and properties in Whangaparaoa, Taupo and Tauranga.
2018: $70 million