NZers barely make list of international billionaires

They may have the fourth largest fortune among Australasians, but low profile New Zealand brothers Richard and Christopher Chandler make it to just 382nd on a list of worldwide billionaires.

Their placing in Forbes magazine's Top 10 rich list for Australia and New Zealand, released earlier this year, was based on a net worth of US$2 billion ($3.13 billion).

Now they have turned up on the same publication's 12th annual list of billionaires, sharing a spot with 28 others with roughly the same net worth.

The only other New Zealander on either list was Graeme Hart, who controls the Burns Philp food group. He was fifth on the Australia and New Zealand list and 451st in the world rankings with US$1.7 billion.

In The Rich List for 2005, The National Business Review said it was impossible to establish how far the Chandlers' wealth stretched.

Their Dubai-based company Sovereign Asset Management had stakes in Japanese megabanks and three Korean companies.

Wealthiest Australian James Packer, who inherited a majority holding in company Publishing & Broadcasting, was in 114th place on the worldwide list with US$5 billion.

According to Forbes the person with the most billions in the world is Microsoft Corp chairman Bill Gates. His net worth is put at US$50 billion, with Berkshire Hathaway Inc chairman Warren Buffett second with US$42 billion.

- NZPA