To make it onto the NBR Rich List, your net worth needs to be at least $50 million. This year we have identified some rising stars who are likely candidates in future years.
With a market capitalisation of $60 million and growing rapidly, QEX Logistics looks certain to propel its founder Ronnie Xue into future NBR Rich Lists.
Founded by Xue and his wife Doreen Wu in their Auckland garage in 2010, QEX is a cross-border logistics and supply chain company that provides a growing number of exporters with a high-value trading gateway into China, including all-important customs clearance.
Initially listed on the NXT market in early 2018, QEX has rapidly migrated to the main board where it has become a market darling for some stockbrokers thanks to a 300% increase in market value in 2018.
Having doubled revenues in 2018, QEX is on track to generate sales of $60m in the current financial year and will no doubt be buoyed by a new distribution agreement with global food giant Danone and investment by Sistema founder Brendan Lindsay who has boosted his holding to 7.22%.