Ihug sends Woods onto Rich List

The Wood family that founded Ihug is one of the new arrivals on this years' National Business Review Rich List. Brothers Nick and Tim Wood and their father John are all directors of the company and NBR estimates their combined wealth at around $75 million.

The Wood family that founded Ihug is one of the new arrivals on this years' National Business Review Rich List.

Brothers Nick and Tim Wood and their father John are all directors of the company, which was launched in 1994 and become the only independent ISP to challenge the telco-owned services Xtra and Clear Net.

Although the business has been consistently profitable, Sky Television's purchase in May of 30% of the company is likely to have been the major contributor to the Wood family coffers, which NBR estimates at $75 million.

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