Sir Michael Fay

Sir Michael Fay is a partner in the merchant bank Fay Richwhite in New Zealand. He is one of the richest people in New Zealand. His personal wealth was mostly amassed in the late 1980s and early 1990s, at which time he played a key part in New Zealand's Fourth Labour Government's structural adjustment of the economy. He is estimated to be worth more than NZD 920 million, making him New Zealand's tenth richest citizen in 2017.

Richwhite and Midavia Rail Investments, a business owned by Richwhite and Fay, were charged with insider trading by the New Zealand Securities Commission in October 2004. Richwhite was accused of informing Midavia to sell $63 million worth of Tranz Rail stock, despite the fact that Richwhite was aware of Tranz Rail's secret financial troubles. Midavia paid $20 million to settle insider trading charges related to Tranz Rail in June 2007. The payments were provided "without any acknowledgment of wrongdoing," according to the commission. The village is the most massive of its sort in Australasia.

Net worth: $1 Billion