The Vela family made its fortune in the fishing industry, but thoroughbred racing is its real passion.
Sir Peter Vela has recently been appointed to the Racing Ministerial Advisory Committee, a body that, under Deputy Prime Minister Winston Peters, will evolve to become an advocate for rejuvenating the racing industry.
Sir Peter’s been an active breeder, owner and administrator for more than 45 years and was knighted in 2014 for his services to the thoroughbred industry. The owner of the 300ha Pencarrow Stud near Cambridge, his family also controls the New Zealand Bloodstock sales complex at Karaka, which earned commissions on $67m worth of horse flesh at the 2019 yearling sales.
Construction is underway on a 120-room hotel, The DoubleTree by Hilton Karaka, on the Karaka property.
On the racetrack, this year also marks an attempt by Sir Peter and others to beat champion Australian mare Winx in the final race of her glittering career.
This was to be no ordinary challenge. The contender chosen by UK-based Sir Peter was a richly bred stallion called He’s Eminent, which was transported from England at great expense and placed in the hands of stand-in trainer Sir Mark Todd – the double Olympic gold medal winning equestrian who Vela has sponsored over the years.
It was an audacious plan, which ultimately came to nothing when Winx triumphed in her usual fashion and He’s Eminent finished well down the track. The horse was then flown to Hong Kong where it again raced poorly before returning to the UK.
Acknowledged as the largest privately-owned quota holder in the country, Vela Fishing had its origins in the fishing enterprises started by Filip Vela who migrated from the Dalmatian Coast to New Zealand in 1929.
Under the guidance of Filip’s late son Phillip (Sir Peter’s brother), the business has been instrumental in the growth of the hoki, orange roughy, tuna and squid industries and has played a major role in developing key international markets for New Zealand seafood.
Vela Fishing is still wholly owned by Philip’s family – his wife Lyn, their two daughters Andrea and Anita, and their four grandchildren who plan to continue the Vela legacy.
2018: $245 million