Tech wealth: McCrae set to cruise past Drury
And why everyone's a winner.
Hot Topic
Budget 25
It seems a little crass to focus on who's made the most money from their main company, Rod Drury or Ian McCrae.
And more so because although each man is driven, neither are breadheads.
Still, it's fun. So let's do the sums.
Drury owns 16.96% of Xero, according to the most recent Companies Office filing. With Xero trading at $17.94 today, that stake is worth just over $390 million (Drury also has several tens of millions from previous ventures, including AfterMail and Glazier Systems).
Orion Health cofounder and CEO was valued at $350 million on the NRB Rich List 2014. McCrae owns 58.46% of Orion, which is set to list at $5.70 a share, valuing his company at $915 million (and it could go higher on day one of trading, given the institutional demand). That makes McCrae's stake worth $534 million.
The Orion man wins.
More seriously, it'll be great to end an up and down tech IPO year with what's shaping up to be a very strong listing.
And well done to Drury and McCrae, who have now employed around 2000 people between them — mostly in high-value jobs, and mostly in NZ.
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Free News Alerts
Sign up to get the latest stories and insights delivered to your inbox – free, every day.
Free News Alerts
Sign up to get the latest stories and insights delivered to your inbox – free, every day.
Tech wealth: McCrae set to cruise past Drury
42886