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1Clear out junk files and repair common Windows errors2Scan for outdated or missing drivers - takes under a minute3Repair Windows errors before they cause bigger problemsNational Business Review (NBR) reported a 2024 estimate of $3.8 billion for the New Zealand Goodman family associated with Goodman Group. The same NBR profile displays $5 billion in its headline area, but does not reconcile that figure with the separately labeled 2024 estimate. Neither figure is an audited, verified accounting of the family’s current net worth.
Which Goodman family does this estimate refer to?
Here, “Goodman family” means the New Zealand family associated with Goodman Group and Sir Pat Goodman. The name is ambiguous: search results also refer to the Happy Goodman Family, a separate Southern Gospel band. Estimates about the band do not describe the Goodman family discussed here. NBR’s profile traces the business history and reports the family estimate: National Business Review’s Goodman family profile.
Why does NBR show both $3.8 billion and $5 billion?
NBR’s 2025 profile labels $3.8 billion as the family’s 2024 net-worth estimate, while its headline area displays $5 billion. The page does not explain the difference or establish that the headline figure is a newer, independently calculated total. Treat both as figures presented by the same source in different contexts—not as two verified valuations or a confirmed change in family wealth.
The profile does not provide a consolidated family balance sheet or a detailed valuation method. As a result, these figures are best understood as attributed estimates, not a precise measure of what the family owns minus what it owes today.
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How the family’s wealth was built
From a Motueka bakery to a larger food business
NBR traces the family’s business roots to a baking operation in Motueka. Sir Pat Goodman and his brother Peter expanded the business, beginning with the Quality Bakers cooperative in the mid-1960s. The company later combined with other Australian firms and became Goodman Fielder Wattie in 1987.
From baking into industrial property
Greg Goodman later developed the family’s business interests through property, beginning with industrial property acquisitions in Australia in 1985. Those properties were listed in 1995 as the Goodman Hardie Industrial Property Trust. NBR says much of the family wealth is held through the Goodman Family Office, jointly managed by Greg’s brothers Patrick Jr and Craig.
The profile also names Glen Nevis Station, a 2,453-hectare property near Queenstown, and reports its value as $11.35 million. That is one named asset, not a measure of the family’s entire real-estate holdings or total net worth.
Family wealth is not the same as Goodman Group’s company figures
Goodman Group is a company; its financial measures should not be added to the family estimate or treated as a proxy for it. NBR’s 2025 profile reports the following company and individual-shareholding figures in its reporting context:
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Rank #3
| Figure | What it describes | How to interpret it |
|---|---|---|
| A$2 billion operating profit, up 15% | Goodman Group’s operating profit for the latest financial year covered by the profile | Company-level profit, not the family’s net worth |
| About A$67 billion market capitalization | Goodman Group’s market value at the time of the profile | Company valuation, not a family-wide wealth estimate |
| More than A$1.3 billion | Reported value of Greg Goodman’s 38 million shares | An individual shareholding, not total family wealth |
| A$84 billion portfolio value | Goodman Group’s property portfolio in the profile’s reporting context | Company portfolio value, not a separate family asset total |
| 97.97% occupancy | Goodman Group portfolio occupancy in the profile’s reporting context | A company operating metric, not a net-worth measure |
NBR also describes Goodman Group shifting toward data centres. The operating, portfolio and occupancy figures reflect the profile’s reporting period; company values and operating results can change over time.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What can—and cannot—be concluded
The available figures support a source-attributed estimate, not a definitive current accounting. NBR’s 2024 figure of $3.8 billion is the clearest explicitly dated family estimate in the profile; its separate $5 billion headline display remains unexplained. The profile’s company statistics and Greg Goodman’s reported shareholding provide context about the business, but they do not resolve the family-wide net-worth estimate.
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