Island fortunes

Fifty-four-year-old Aucklander Graeme Hart is the wealthiest man in Australasia with an estimated net worth of $4.7 billion. For the first time since Forbes Asia started keeping track of global fortunes, a New Zealander is richer this year than any Australian. Hart bests Australian media heir James Packer, by $1.6 billion. Hart, a former tow-truck driver who has amassed a packaging powerhouse in recent years, was worth $700 million less than a year ago, but that’s still plenty to top all of his wealthy Australian neighbors. Right behind Hart are billionaire brothers Christopher and Richard Chandler, who used the proceeds from selling their parents’ small North Island retailing business to invest in Hong Kong real estate. The pair went on to found Singapore investment firm Sovereign Global and now head up their own companies, both focused on emerging markets and socially responsible investing.