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Rod Drury, one of New Zealand’s most recognised technology leaders, has built a fortune that today is estimated at around NZ $1.3 billion. Best known as the founder of accounting software company Xero, Drury’s journey from a young programmer in Hawke’s Bay to a place on the National Business Review Rich List is one of the country’s great business success stories.
In a recent episode of the NBR Podcast (July 2025), Drury said,
“New Zealand is still at the beginning of an amazing opportunity. There’s so much more we can build here.”
That belief has powered not only his own ventures but also his growing investments across the country.
(In previous interviews, including one with Radio New Zealand in 2024, Drury explained that overcoming a severe stutter in his twenties gave him the confidence to lead major companies and speak publicly.)
Early Life and Career Beginnings
Born in 1966, Rodney Kenneth Drury grew up in Hawke’s Bay. The son of a tradesman and an executive assistant, he often talks about how his parents encouraged him to explore computers and business from a young age. While at Napier Boys’ High School, he discovered his passion for programming before going on to complete a commerce degree at Victoria University of Wellington.
(He has also spoken of his Māori heritage through his father’s Ngāi Tahu lineage, something he says gave him a strong sense of community.)
His first big break came in 1995 when he founded Glazier Systems, a software company later sold in 1999 for about NZ $7.5 million. This success laid the foundation for his future ventures, including AfterMail, which was sold to Quest Software.
Building Xero Into a Global Brand
In 2006, Drury co‑founded Xero with accountant Hamish Edwards in Wellington. The company listed on the NZX the following year at $1 a share. Today, Xero is valued at more than NZ $19 billion and serves over 3.7 million subscribers worldwide.
(Drury also briefly served as a director of Trade Me and was involved in the Pacific Fibre project, an ambitious plan to build an internet cable between New Zealand, Australia and the United States.)
Drury served as CEO until 2018 and remained on the board until August 2023. In a statement to the ASX last year, Xero chairperson David Thodey praised Drury’s “visionary leadership” and his role in shaping the company’s strategy and culture.
(At various points he has been recognised with major honours, including the Hi‑Tech New Zealand Entrepreneur of the Year award in 2006 and 2007, and the NZ Herald Business Leader of the Year award in 2012.)
Investments and New Ventures
Even after stepping back from Xero’s board, Drury has not slowed down. He has become a major investor in Queenstown, with projects including a brewery, a large gym, and even plans for a gondola linking the airport to the city. His work in the region has earned him the nickname “the King of Queenstown” in local media.
(He has also sold Xero shares over time, including a NZ $95 million sale in 2017, while keeping a significant stake for long‑term growth.)
He has also supported early-stage tech companies and continues to be involved in innovation. In an interview with Radio New Zealand in 2024, he said he wants to see
“New Zealand build global businesses while improving the communities we live in.”
Philanthropy and Community Support
Drury’s wealth has also supported various causes. In 2020, he donated NZ $1 million to the iwi charity Mana Tāhuna to help clean up Queenstown’s Lake Hayes. According to Xero’s 2022 annual report, Drury and his former partner Anna Stuck together held nearly 10 million shares in Xero, a stake then valued at over NZ $800 million. Stuck later founded the Clare Foundation, which supports women and youth initiatives.
(The Clare Foundation, set up with $35 million in funds, has backed projects from gender pay gap research to support for community housing and youth wellbeing.)
Current Net Worth and Legacy
As of the latest NBR Rich List, Drury’s fortune stands at NZ $1.3 billion, placing him among New Zealand’s wealthiest self‑made entrepreneurs. He remains a prominent figure in the tech industry, a passionate investor in regional development, and a generous supporter of community projects.
(His name often appears alongside other top New Zealand billionaires such as Sir Peter Jackson, Dame Fran Walsh, Bruce Plested, and Sir Michael Friedlander.)
Drury’s story shows how a local entrepreneur can grow a start‑up into a global company while continuing to invest in the country’s future. As he said on the NBR Podcast:
“It feels like we’re still at the beginning of what’s possible.”.
For detailed information on Winston Peters’ net worth, please visit this link.
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