Wisdom from the wealthy

To create wealth, New Zealand needs to create an environment for success, get over tall poppy bashing, and foster a positive, confident, can-do attitude.
This message comes through loud and clear from those on the 2011 NBR Rich List.
There is no shortcut to success; it requires dedication, commitment and nerves of steel. But equally important is the arena the wealth generators have to perform in.

Key steps to achieving this are
> being practical and realistic about what is needed to create a regulatory and operational environment conducive to wealth generation;
> being loud and proud of success. Aspirational wealth creators should be expected to come forward and flourish.

Here’s a selection of comments made to NBR by NBR Rich Listers – some are specific in practical details while others target the Kiwi psyche.

Have the courage to develop your ideas. “Just get stuck in – you may fail, but what the hell. You won’t succeed if you don’t try”
John Todd, Todd Family
$2.7 billion

“Could not the government give us a little freedom to be able to make common sense decisions for ourselves. If we are not careful young Kiwis will not be capable of thinking for themselves”
Sir Michael Hill
$245 million

“While others pontificate over decisions, have the courage to make a move. Nothing is achieved without an element of carefully calculated risk”
Mike Bayley, Bayley Family
$165 million

“There’s something in the New Zealand psyche that seems able to snatch defeat from the jaws of victory. People in Australia back themselves more – they’re generally more optimistic and just get on and do things”
Tim Wood
$120 million

“There should be no such thing as an unemployed school leaver and relaxing employment laws would benefit both unemployed youth and small business with limited capital reserves”
John Sax
$85 million

“Somebody once told me that no matter what the business is, be the best at it that you can and that will lead to the next thing”
Grant Baker
$65 million

“Productivity should be the catchcry for New Zealand’s economy with a policy based on three criteria: does it reduce costs to business; does it increase productivity; and will it lead to increased revenue?”
John McVicar, McVicar Family
$70 million

“The country needs to address excessive regulation if it is to improve wealth creation”
Sir Patrick Higgins, Higgins family
$100 million

“At the moment we are just tinkering with the mechanisms without a clear idea of where we’re heading”
Bruce Plested
$180 million

“We have a habit of talking ourselves down. We need to hear more about success to help build some positive momentum”
Ron Anderson
$85 million

“We should encourage a culture that admires achievement in whatever field, whether arts, sports of business. Everyone who achieves deserves recognition”
Sir Eion Edgar
$90 million

These people are successful – let’s listen to them.

> 2011 NBR Rich List combined wealth
$45.2 billion
(2010: $38.2 billion)

> Six billionaires

> Graeme Hart – No. 1 ranking
$6.5 billion
(2010: $5.5 billion)

> Welcome back
Owen Glenn (his wealth was never in doubt but he was not active here.
He now has a renewed presence) $900 million

> New in 2011
Fulton and Hogan families ($295 million and $180 million respectively
John Houldsworth $150 million
Phillip and Jacqui Mills $90 million
Neil Graham $65 million