High Life On The Edge

New Zealand is becoming a favourite place to live for wealthy foreigners, with American Facebook billionaire Peter Thiel, Russian steel billionaire Alexander Abramov, and New York Empire State Building’s Tony Malkin among those recently buying residences here. In addition, American billionaire William Foley became the outright owner of Te Kairanga Wines in Martinborough last year. Murray Horton, Campaign against Foreign Control of Aotearoa secretary, warned against the billionaires’ activities slipping under the radar. “Who owns and profits from our banks, supermarkets, media companies, telecommunications companies, airlines and insurance companies is a matter of national significance which affects everyone in the country, one which is rapidly becoming a branch office economy dominated by transnational corporations,” Horton said.