Graeme Hart Net Worth is$5.3 Billion
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Profession: Businessperson, Entrepreneur
Date of Birth: 1955
Country: New Zealand
Graeme Hart is a New Zealand businessman, and the richest person in Australasia, he has a net worth of $5.3 billion. Graeme Hart has built his net worth as a leveraged buyout (LBO) private equity investor, buying under-performing and under-valued companies with steady cash flows, that can be turned around through strong cash management, cost-cutting and restructuring with other businesses. Hart does not share the returns of the company, and the members of his team do not get any share in the equity of the businesses. He wants the risk and the substantial rewards of a LBO investment remain solely with him. He lives in Auckland; New Zealand and he completed an MBA from the University of Otago.
Graeme Hart (born 1955) is a New Zealand businessman reported to be the richest person in Australasia with a personal fortune of NZ$8.8 billion (US$6.1b) according to the 2009 Forbes rich list. The 2007 September 22-28 issue of the New Zealand Listener listed Hart as being the 29th most powerful New Zealander. He prefers to stay out of the general media and makes few public appearances.
Much like other leveraged buyout (LBO) private equity investors, Hart has a preference for buying under-performing and under-valued companies with steady cash flows which can be turned around through strong cash management, cost-cutting and restructuring with other businesses. Since his 2006 purchase of Carter Holt Harvey he has focused his acquisitions on the paper packaging sector. His largest acquisition to-date was for Alcoa's Packaging & Consumer group in 2008 for US$2.7bn, later renamed Reynolds Packaging Group. He does not directly manage his businesses, and is focused mostly on the financing related to re-capitalization of the companies.
Unlike other LBO investors however, Hart is not a believer of sharing the returns of the company, and does not allow any member of the team to get any share in the equity of the businesses. In this manner, he ensures that the risk and the substantial rewards of an LBO investment remain solely with him.
Forbes stated that Hart was the 110th-richest person in the world, as of 2009[update].
Rank Group Ltd is Graeme Hart's private investment company. It is the 100% owner of Burns Philp and Carter Holt Harvey. Rank had assets of approximately NZ$3bn in cash after selling the assets of Burns Philp and floating Goodman Fielder in 2004.
In December 2006 he agreed to purchase International Paper's drinks packaging business Evergreen Packaging for NZ$725 million. In May 2007 he bought Swiss packaging company SIG for NZ$3.2bn. The SIG division Combibloc is the second largest food and drink carton packaging company in the world after Swedi

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Graeme Hart Latest News

This Country's Richest Person Is a One-Time Truck Driver

Graeme Hart was once a high school dropout working as an auto-body repairman and truck driver. Today he's New Zealand's richest person, thanks to a career in private equity, with a taste for ...
Posted: February 3, 2020, 10:12 pm

Cattle baron’s daughter Cartier Lee finds love with NZ’s richest bachelor

Cartier, 22, is the only daughter of beef baron Trevor Lee – reported to be worth around $500 million – and fashion icon Keri Craig-Lee, of Brisbane’s blue-ribbon Ascot, while Harry, 27, is the only ...
Posted: February 13, 2020, 11:42 pm

7 Reasons Not to Buy Into the Hype Over Reynolds IPO

That gives Reynolds an enterprise value of $8.5 billion on a pro forma basis. If you turn to page 51 of its prospectus, you will see that Graeme Hart, the company’s owner and chief beneficiary of its ...
Posted: February 7, 2020, 8:07 am
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