Nick Mowbray
Co-Founder, Zuru
Nick Mowbray is a New Zealand entrepreneur who co-founded Zuru, the toy and consumer-goods company that grew from a Waikato farm shed into one of the largest privately owned toymakers in the world. In 2026 he and his brother Mat reached the top of the NBR Rich List, with the family's Zuru fortune estimated near NZ$20 billion.
What is Nick Mowbray's net worth?
Nick and Mat Mowbray are ranked jointly at the top of the 2026 NBR Rich List, with a combined Zuru fortune estimated near NZ$20 billion, so neither brother is given a separate figure. Zuru is privately held and has taken no outside investment, which means every net-worth number is an informed estimate rather than an audited account. For how the money was built and where it sits today, see our full breakdown of the Mowbray family net worth.
How did Nick Mowbray make his money?
The story began with a hot-air balloon. As a schoolboy in Cambridge, Nick and his older brother Mat made and sold model balloon kits, an idea that started as a science-fair project on the family dairy farm. It never quite took off in New Zealand, so in the early 2000s the brothers made an audacious bet: with a NZ$20,000 loan from their parents they moved to China in their teens and early twenties, bought an injection-moulding machine and began manufacturing toys themselves. Their sister Anna joined soon after to run operations, and together the three siblings built Zuru into a global force behind mass-market hits like Bunch O Balloons, X-Shot, Mini Brands and Rainbocorns, sold across more than 120 countries. The whole advantage was heavy automation and relentless speed to market, keeping the profits in the family rather than with outside investors.
Zuru has since expanded well beyond toys. Zuru Edge moved the company into fast-moving consumer goods across nappies, haircare and wellness. Zuru Tech is trying to reinvent how houses are built through robotics and automation, with the first commercial homes going up on beachfront lots in Malibu. What began as a single product is now a diversified, multi-billion-dollar group. Nick was named EY New Zealand Entrepreneur of the Year in 2018 and inducted into the World Entrepreneur Hall of Fame.
Where does Nick Mowbray live?
Nick Mowbray is based in Auckland. The family's best-known property is the Coatesville estate north of the city, the former "Dotcom mansion" the Mowbray siblings bought together in 2016, and he has since added homes in Herne Bay and at the Te Arai golf resort.
Who is Nick Mowbray's partner?
Nick Mowbray is engaged to Jaimee Lupton, co-founder of the haircare brand Monday, with whom he has a young family. The couple restored the Coatesville estate together after the siblings bought it.
Nick features in our look at how New Zealand brands break out globally and our guide to the most famous New Zealand entrepreneurs.
How much is Nick Mowbray worth?
Nick Mowbray's wealth comes from Zuru, the toy and consumer-goods company he co-founded with his siblings Mat and Anna. He and Mat share the top of the 2026 NBR Rich List with a combined fortune estimated near NZ$20 billion. Because Zuru is privately held, the figure is an estimate rather than a disclosed account.
Sources: NBR · BusinessDesk · Foundr · Zuru
About this profile
This profile was researched and written by Noteworthy using publicly available sources. If something here is out of date or incorrect, let us know and we’ll review it.
