About $5.7 billion was lost from the combined wealth of the 155 entrants on the rich list, down to $38.7 billion for 2009 compared with $44.4 billion last year, according to the annual list compiled by the National Business Review.
Four southern millionaires have dropped off the list this year, despite two having far greater wealth last year than the five of this year's 146-equal millionaires at $50 million each, which includes Prime Minister John Key for the second time.
Missing this year are Queenstown developer John Martin, accredited with $50 million in 2008, the Paterson family of Dunedin at $195 million, Scenic Circle Hotels operator Earl Hagaman at $160 million and Dunedin businessman Graeme Marsh at $60 million.
NBR reported 17 "casualties" after the credit crunch "wreaked havoc" on global markets, including the ranking of the Paterson family, Queenstown Kawerau Falls developer Nigel McKenna ($100 million last year) and failed BNZ bank developer in Dunedin, Michael McGurk ($60 million last year).
While Mr Cleary was down $100 million to $2 billion, he moved from third to second rank on the overall list, behind Graeme Hart on $5.5 billion, whose wealth dropped $500 million on last year.
Of the southern rich-listers, only Sir Tim Wallis had an increase, of $5 million to $65 million, in his fortune. Five other southern millionaires lost a combined total of $435 million.
Project management company owner Ron Anderson, of Arrow International, was unchanged on $65 million.
Queenstown tourism and property operator and former mayor John Davies, who entered the rich list last year, maintained his $50 million, as did investor and benefactor Eion Edgar, of Queenstown, who also maintained his $95 million ranking.
Jeweller, entrepreneur and host to the New Zealand Golf Open, Michael Hill, had $235 million last year but was down to $170 million this year, but the global jewellery company overall is valued at $230 million.
The fortune of South Canterbury Finance owner Allan Hubbard (82), of Timaru, fell from $650 million last year to $550 million.
The Dunedin-based McConnon family. with wide-ranging agri-business interests derived originally from the dairy sector, saw estimates of their fortune slashed from $140 million last year to $80 million.
The Dunedin-based Skeggs family, with interests in shipping, tourism and aquaculture maintained its $65 million ranking again this year.
The fortune of newspaper proprietors and publishers of the Otago Daily Times, Julian and Nick Smith, declined by $5 million to $70 million.
Tourism and media businessman Barry Thomas maintained his $60 million fortune.
• THE TOP 10
1. Graeme Hart $5.5b
2. Todd family $2.6b
3. Eamon Cleary $2b
4= Richard and Christopher Chandler $1.8b
6. Lynette Erceg $1.2b
7. Goodman family $850m
8. Stephen Jennings $800m
9= Douglas Myers, Sir Michael Fay, David Richwhite $750m
- Figures are estimated
