What the Rich List Really Shows Us

New Zealand has eight more billionaires this year. There are 26 of them now. The Rich List is worth $129 billion, up from $102 billion just a year ago.

Funny thing is, the second it comes out, everyone has the same argument. One side says tax them more, they’ve got too much money. The other side says leave them alone, they built something and created jobs.

And both sides have got half a point. The gap is real. And yeah, plenty of people on that list did build something from nothing, took big risks, employed people and created value.

But I think we miss the more useful lesson. We argue about the scoreboard instead of asking how the points were scored.

Look at almost anyone near the top. They didn’t get there from wages. They owned something that could grow without every dollar being tied to another hour of their time. A company. A serious shareholding. A piece of something that scaled.

Sir Peter Beck from Rocket Lab is the obvious example this year. His estimated wealth went from around $650 million to about $11 billion. No salary does that. Ownership does.

That doesn’t mean everyone should go out trying to become a billionaire. Most people don’t want that anyway. They want something simpler. Options. A bit of breathing room. Less panic when the bill comes in. Less fear if the boss changes, the rent goes up, or the economy turns sour.

That’s the part worth paying attention to. A wage can cover your week. Ownership is what starts building your future.

That could be a small business, a rental, shares, KiwiSaver, a piece of land, or a useful skill that turns into income. It’ll look different for everyone, but the principle is the same.

If you own nothing, you’re easy to push around.

The Rich List isn’t your enemy. And it’s not your goal either. But it is a pretty clear reminder of how wealth actually gets built.

Most people just never read it that way.

#johnkenel #thepropertydevelopmentclub #nzeconomy

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