Graeme Hart
Graeme Richard Hart (born 1955) is a New Zealand billionaire businessman and the country's wealthiest person. He prefers to stay out of the media and makes few public appearances. As of March 2022, his net worth was estimated at US$9.7 billion.
Graeme Hart | |
|---|---|
| Born | 1955 (age 68–69) New Zealand |
| Education | Mount Roskill Grammar School |
| Alma mater | University of Otago |
| Occupation | Businessman |
| Years active | 1985–present |
| Spouse | Robyn Jessie Hart |
| Children | 2 |
Much like other leveraged buyout (LBO) private equity investors, Hart has a preference for buying underperforming and undervalued companies with steady cash flows which can be turned around through better 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.
Forbes stated that Hart was the 274th richest person in the world as of March 2022. In 2022, Hart was inducted into the New Zealand Business Hall of Fame.