Key’s wealth hit by crunch

One of Parliament’s richest MPs, John Key, admits his fortunes have suffered as global share markets are battered over the international credit crunch.

“I’m worth less than I was,” Mr Key said.

The National leader would not be drawn on the amount carved out of his personal fortune by falling share prices, but said it was not a huge loss. “I wouldn’t describe it as material.”

Mr Key built his wealth as a top trader and then as head of global foreign exchange for investment banker Merrill Lynch in London, which offered key staff big “guarantees” in the form of stock options.

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2 thoughts on “Key’s wealth hit by crunch

  1. What an absolute shame your blog wasn’t read by more NZers back in 2008… Actually the vast majority need to read it NOW in 2012 !! I’m ashamed at how naive kiwis appear to be when it comes to politics in general. I would venture to say that John Key doesn’t give a toss about NZs future, hence the start down the rocky road of asset sales in our beloved resource-rich country…and he knows he won’t be PM after the next election, he will be getting another high paying role with his rich mates OUTSIDE of NZ… a la Helen Clark after her rush through of the free trade agreement with China just before the 2008 election. Shameful.

    • Sorry for the delay. From now on you can comment and it shows straight away. I agree. More people should read the blog and all the info so spread it around. Thanks! And yes I don’t hold much sympathy for Helen Clark either

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