About $900 million is expected to be lopped off the combined fortunes of six Queenstown business magnates in tomorrow’s Rich List.
Irish-Kiwi commercial landlord Eamon Cleary (right) is likely to be the biggest loser in the Wakatipu wealth sextet – only on paper, that is.
The National Business Review Rich List is thought to pin back Cleary’s estimated fortune by $800m – mind you, he still has $1.2 billion to fall back on.
Cleary is believed to have dropped four places to eighth on tomorrow’s new national wealth league table.
Another big local loser is likely be Jack’s Point partner George Kerr.
While it must again be stressed Rich List figures are only estimates, Kerr’s wealth is believed to have been marked down $155m by NBR fortune-tellers.
That’s 70 per cent down on his estimated net worth of $220m last year.
Tomorrow’s Rich List ballparks Kerr’s current worth at $65m – putting him in 145th place.
The four other wealthy local worthies all appear to be flourishing despite the recession.
Jewellery retail chain owner, golf course developer and violin competition virtuoso Sir Michael Hill goes up $5m to $250m in tomorrow’s list.
Fellow knight and stockbroker extraordinaire Sir Eion Edgar’s estimated pile also goes up $5m – to $95m.
Transport supremo, skifield owner and property tycoon John Davies scores the largest gain among local Rich Listers – NBR’s crystal-ball gazers reckon his fortune has climbed by $10m to $90m.
Mountain Scene owner and major Skyline shareholder Barry Thomas is no slouch either – his Rich List estimate jumps $5m to $80m.