Sir Stephen Tindall shed all personal involvement in the source of his wealth, The Warehouse Group, last year, although he was still there in March last year when what was once the country’s largest listed retailer was booted out of the benchmark Top 50 Index.
His son, Robbie, has taken Sir Stephen’s seat on the board and he still owns 27% with his charity, the Tindall Foundation, owning another 21%. The foundation has invested more than $160 million of Warehouse dividends back into the community.
The foundation was established in 1994, the year The Warehouse was floated, and its latest accounts for the year ended March 2016 put its net assets at $283 million and show it paid out nearly $8 million in net donations that year to causes ranging from social services, education and environmental projects.
Sir Stephen has also poured more than $150 million into start-up businesses, including satellite launcher Rocket Lab, biofuels company Lanzatech and venture capital fund Global from Day One through his K1W1 investment company.
You could say Sir Stephen has retailing in his blood – his great grandfather was CBD department store owner George Court and his first job was in his father’s hardware shop in Northcote, Auckland after school – he attended Rangitoto College.
After leaving school, he went to work at the George Courts store on Karangahape Rd and spent 12 years there.
Sir Stephen was knighted in 2007 for services to business and the community and other honours showered on him in recent years include honorary degrees from AUT and Massey University and being named New Zealander of the year in 2015.
Photo: New Zealand Herald/newspix.co.nz