New Zealand has produced many remarkable business leaders, but none have achieved the level of financial success and business acumen as Graeme Hart. From humble beginnings to becoming the nation’s wealthiest individual, Hart’s journey epitomises the power of determination, strategic thinking and an appetite for calculated risk.
His story isn’t just about accumulating wealth—it’s about building a global business empire through a distinctive investment approach that has revolutionised how companies can be transformed and grown.
Graeme Hart doesn’t fit the typical billionaire mould. Born in New Zealand, he left school at 16 without formal qualifications—a beginning that gave little indication of the extraordinary business career that would follow. His initial foray into the working world was distinctly hands-on, driving tow trucks and developing practical business sense from the ground up.
What separated Hart from others was his innate commercial instinct. As he would later reflect, “I had an absolute passion for business. I had a very strong commercial acumen, and so for me, business was just that’s what I love. I had a great work ethic, I had a strong burning desire to succeed, although I don’t think I recognised that in the early days.”
Hart’s journey into business ownership began modestly. With only a vision and determination but lacking capital, he approached his father for a loan of $500. His father not only provided the initial funds but also introduced him to a bank manager who loaned him an additional $2,000. With this modest sum, Hart launched his first venture in the truck-carrying business.
This pivotal moment taught Hart an important lesson about opportunity recognition and resource mobilisation. Despite having neither formal education nor substantial capital, he possessed something perhaps more valuable—an instinctive understanding of business principles and the courage to take calculated risks.
Hart’s business approach evolved into a distinctive and highly successful strategy centred on leveraged buyouts. Through his private equity company, Rank Group, he developed a straightforward model: acquire quality businesses using leverage, enhance their operational performance, and build market-leading groups through strategic acquisitions.
This methodology led to the creation of New Zealand’s largest private business. Hart’s portfolio expanded to include the largest printing and stationery company in New Zealand and Australia, the largest food group in the region, and eventually a global packaging and consumer products empire.
The pinnacle of this strategy manifested in Reynolds Group Holdings (later renamed Pactiv Evergreen), which manufactures everyday products like milk cartons, water bottles, paper and aluminium foil. The company’s successful listing on Nasdaq in 2020 represented a significant milestone in Hart’s business journey.
What makes Hart’s approach distinctive is his focus on substantive business transformation rather than quick profits. Unlike many private equity investors who prioritise short-term gains, Hart typically maintains ownership for extended periods, reinvesting profits into new ventures after selling successful businesses.
His investment philosophy is underpinned by several key principles:
This approach requires patience, deep industry knowledge, and exceptional management skills—all attributes Hart has demonstrated throughout his career.
Despite his immense wealth—currently estimated at around $9 billion according to Forbes—Hart maintains a relatively low public profile. When asked about his approach to wealth, he has consistently emphasised that financial success is a “byproduct” of his passion for business rather than an end goal.
“Business is what gets me out of bed in the morning,” Hart once stated. “That’s my hobby. If I was a mountaineer or an athlete, or had an interest in politics or teaching, then I’d spend my day trying to do that to the best of my ability.”
This perspective offers valuable insight into what truly motivates successful entrepreneurs—it’s often the challenge and fulfilment derived from building and growing businesses rather than merely accumulating wealth.
While Hart enjoys the privileges his success affords—including luxury homes and superyachts—these represent personal interests rather than defining his character. His 102-meter superyacht, delivered in 2023, reflects his longstanding passion for boats, scaled up to match his financial capacity.
Hart’s extraordinary business achievements have earned him significant recognition. In 2022, he was inducted into the New Zealand Business Hall of Fame, joining other distinguished entrepreneurs who have made substantial contributions to the country’s economic and social development.
What makes this recognition particularly meaningful is the diversity of paths taken by the honourees. From fitness pioneers like Les Mills to tech innovators like Ulu Aiono, the Hall of Fame celebrates different approaches to business success, with Hart’s leveraged buyout model representing one powerful methodology.
Perhaps most significantly, Hart firmly believes his success is replicable. “You can do exactly what I have done,” he has stated, emphasising that while circumstances have changed, opportunities continue to abound—perhaps even more than during his early career.
He particularly notes that today’s globalised and digital economy offers expanded possibilities: “There are many many more opportunities today, the world is growing. The capital markets, they are way more sophisticated. My market was sort of Auckland New Zealand but today anyone particularly starting in tech, the world is your oyster.”
This optimistic perspective offers encouragement to aspiring entrepreneurs, particularly those who may lack formal qualifications or initial capital. Hart’s journey demonstrates that commercial acumen, work ethic, passion, and a willingness to take calculated risks can overcome seemingly insurmountable barriers to business success.
For New Zealand’s business community, Graeme Hart represents more than just financial achievement. His story embodies the entrepreneurial spirit that has historically defined the nation—resourcefulness, practical innovation, and the determination to succeed despite limited resources. As his granddaughter Jemima Hawkesby noted, his achievements present “definitely a tough act to follow,” but they also inspire generations of future New Zealand business leaders.
Business Hall of Fame: Kiwi entrepreneurs honoured. (2022, April 4). Stuff.
Dann, L. (2017, December 31). Why is Graeme Hart so rich? New Zealand Herald.
Lewis, L. (2022, August 23). NZ’s richest man Graeme Hart: ‘You can do exactly what I have done’. Radio New Zealand.
Forbes. (2025). Graeme Hart profile. Forbes.
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