Known for his business dealings, Michael Erceg created the majority of the Erceg family's net worth. After his death in a helicopter accident in 2005, the majority of his earnings were inherited by Lynette Erceg. During his life, Michael Erceg created Independent Liquor. Following his death, 80 percent of the company was sold. Lynette Erceg maintained a 11.75 stake in the company until 2011.
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At this point in time, the remainder was sold to the Japanese brewery, Asahi. Due to previous earnings and the sale for $1.5 billion of the remainder of the company, the Erceg family has a current net worth of $1.3 billion. Native to New Zealand, the Erceg family is notably guarded about their privacy. In addition to Independent Liquor, the family has shares in the company, Mystery Creek Wines. In recent years, court proceedings have been undertaken by Michael Erceg's mother and his wife, Lynette.
The mother has gone to court because Lynette sought to end some of her claims on the company. Although the proceedings are still underway, factual matters will need to be looked at before a judgment is made. Other members of the Erceg family possess personal wealth from companies like Sensation Yachts and 17 real estate properties.
The late Michael Erceg