New Zealand’s richest man is encouraging the next generation of business leaders to take risks.

Graeme Hart has been reflecting on a series of his leaps of faith during his 50-year career, that now has him on the Forbes Billionaires 2022 list at spot 218.

The 67-year-old investor holds a net worth of $9.7 billion. He is New Zealand’s wealthiest person.

He was inducted into the NZ Business Hall of Fame on Thursday August 18, 2022.

“It’s a real privilege to find yourself in a position after a career, you know, Greg Thomas, Ulu’s, myself, Les Mills, where you are being recognised into the Hall of Fame.

“These are careers that span 40-50 years, in the case of the Beggs, a lot longer. So, yeah, very proud.”

Hart, who left school at 16, said youths and young adults could manage what he had achieved.

“I had a preparedness and an appetite for risk, now that is really important.

“You can do exactly what I have done.”

Hart’s father, who is now almost 97, played a pivotal role, granting him access to a small loan that would in turn multiply, he said.

“The first problem is I’ve got no money, OK. I can see what the opportunity looks like, so sitting down there somewhere is my father, so I go to my father and borrow $500, so $500 from dad and then bless his cotton socks he takes me to his bank manager.”

The bank manager gave him the other $2000 he needed to make the move and that was that, he was in the truck-carrying business, he said.

Over a career spanning five decades he has bought and remade some of the most iconic businesses in New Zealand, like Whitcoulls and Reynolds Packaging Group.

“There are many many more opportunities today, the world is growing. The capital markets, they are way more sophisticated,” Hart said.

“My market was sort of Auckland New Zealand but today anyone particularly starting in tech, the world is your oyster. There is more competition, there was less competition in my day but yes the answer is you can succeed today, no question at all.

“Here’s the thing, so I didn’t have capital obviously, I didn’t have a formal education, I didn’t have experience but as I reflect on my career, what I have was within my DNA and this is just a blessing from mum and dad, I guess.

“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.”

‘Tough act to follow’

It is early days for Hart’s granddaughter Jemima Hawkesby.

The 18-year-old spoke to RNZ after her grandfather was inducted.

“He’s very very humble and has a lot of passion,” Hawkesby said.

His achievements were at the forefront of her mind – “it’s definitely a tough act to follow and it is very inspiring”, she said.