Jim Grenon

James Terrence Omer Grenon
Born	Canada
Occupation(s)	Private equity investor, media owner
Known for	Founder of Tom Capital Management; director at New Zealand Media and Entertainment; owner of The Centrist and NZ News Essentials

James Terrence Omer Grenon is a billionaire private equity investor holding dual Canadian-New Zealand citizenship. He is the founder of Tom Capital Management, an investment firm based in Canada, and serves as a director at the media enterprise New Zealand Media and Entertainment. Additionally, Grenon owns alternative news platforms The Centrist and NZ News Essentials (NZNE).

Early life and education

In 1980, Jim Grenon completed his Bachelor of Law degree at the University of Manitoba. He briefly practiced law before shifting his focus to corporate and financial equity sectors.

Tom Capital Management and tax litigation

Established in 1995, Grenon launched Tom Capital Management in Calgary, concentrating on industries such as oil and gas, financial services, manufacturing, and real estate. As of September 2023, he continued to act as an advisor for the firm.

Between 2003 and 2006, Grenon created intricate investment fund arrangements that redirected income into his personal superannuation trust held with the Canadian Imperial Bank of Commerce. By 2011, these funds had accumulated Can$58 million, incorporating investments from minors and other third parties. This structure facilitated extensive avoidance of Canadian taxes on investment returns.

In 2013, Grenon transferred Can$55 million (equivalent to NZ$68.2 million) from his retirement fund to New Zealand, subsequently moving Can$15 million into a high-yield account. The Canada Revenue Agency (CRA) responded by issuing a jeopardy order to recover tax debts, citing flaws in the fund’s configuration and proposing assessments totaling CAD$488 million against both Grenon and his trust.

The Federal Court of Canada overturned the CRA’s jeopardy order in 2015 due to uncertainties regarding repayment capabilities, awarding legal costs to Grenon. Nonetheless, in 2021 the Tax Court of Canada found against the fund’s subscription model as constituting tax avoidance and condemned the involvement of minors as being "contrary to public policy." While Grenon’s personal appeal was successful, the superannuation trust’s appeal was dismissed, leading to reassessed tax obligations including Can$152.8 million related to units acquired in 2005.

Grenon initiated legal action against the CRA and several employees alleging misconduct and extortion connected to an extended audit that escalated his tax liabilities from Can$3.8 million to $205 million; a Canadian court permitted these claims to advance in December 2023.

In November 2024, appeals filed by Grenon’s companies concerning another tax avoidance arrangement involving his superannuation trust during a fund restructuring in 2005–2006—resulting in Can$113 million of untaxed gains—were rejected by the Federal Court of Appeal. His legal team has since appealed to the Supreme Court of Canada, contending adherence to tax regulations and delays by authorities in issuing assessments.

Media ventures

In 2022, Grenon initiated two alternative news platforms, NZ News Essential (NZNE) and The Centrist, aiming to counteract what they viewed as mainstream media partiality. Initially operating under the name JTG3 Ltd from 2016 to 2019, The Centrist Ltd adopted its current title in March 2023. Grenon held the roles of sole shareholder and director until mid-2023, when Canadian Tameem Adam Abdul-majeed Barakat took over. Both outlets featured in social media content linked to influencer Chantelle Baker's Operation People. NZNE began as XYZ Sashi Limited, registered by Matthew Gray in November 2022, before being renamed NZNE; later, Glenn James Arthur became a shareholder. By September 2023, New Zealand Media and Entertainment (NZME) challenged NZNE’s name for trademark infringement.

Both platforms espouse right-leaning editorial perspectives, publishing critiques targeting tax policies, diversity, equity and inclusion (DEI) initiatives, rent control measures, the World Economic Forum, the Sixth Labour Government, and left-wing political parties. They have also redistributed material from conservative personalities such as Bob McCoskrie of Family First New Zealand, Avi Yemini from Rebel News, and Cameron Slater’s BFD website. As of September 2023, access to both sites was free of charge with no subscription requirements. Contributors to NZNE often wrote under pseudonyms like Citizen Joe and Diogenes. According to Newsroom reports, these outlets largely compiled content sourced from other media.

By September 2023, NZNE had amassed approximately 3,500 followers on Facebook and 2,600 on X (previously Twitter). Their social media output criticized DEI programs and co-governance arrangements while questioning the impact of colonialism on Māori outcomes. The Centrist published pieces accusing The New Zealand Herald of biased editorial coverage concerning co-governance, climate science debates, COVID-19 management, Three Waters reforms, and Inland Revenue’s high net worth project. On 17 August 2024, NZ News Essential transitioned into a periodic digital magazine titled Centrist exclusives (CE), hosted on The Centrist’s website.

The Centrist has offered financial support for readers’ legal expenses and backed Chantelle Baker’s defamation suits against The New Zealand Herald and researcher Kate Hannah; the former case was settled by late September 2025. Additionally, it supported "Stop Co-Governance" founder Julian Batchelor’s defamation action against TVNZ and disinformation analyst Sanjana Hattotuwa.

2025 NZME takeover bid

On 3 March 2025, Grenon purchased a 9.3% equity stake in New Zealand Media and Entertainment (NZME), valued at NZ$9 million; NZME owns The New Zealand Herald. Shortly after, on 6 March, he proposed replacing all existing NZME directors with new appointees including himself. Journalist Andrea Vance suggested that Grenon's move was motivated by NZME’s refusal to run advertisements from right-wing organizations such as Hobson's Pledge, anti-vaccination group Voices for Freedom, and conservative lobby Family First New Zealand. Grenon also voiced support for the New Zealand Free Speech Union’s efforts to promote free speech and diverse media representation.

In reaction to this bid, competitor Stuff halted negotiations on 21 March regarding the sale of its Wellington and South Island newspapers to NZME—a transaction intended to enhance NZME's OneRoof rental platform's revenue and audience reach. By 26 March, Grenon indicated a willingness to negotiate by proposing NZME CEO Michael Boggs for a board position if he were appointed chairperson; other nominees included Des Gittings, Philip Crump, and Simon West.

NZME deferred its shareholder meeting scheduled for 31 March to allow full consideration of all proposals. The New Zealand Shareholders' Association called on the board to protect small shareholder interests, ensure directors possess suitable governance expertise, and maintain leadership continuity amid the takeover attempt. On 15 April, director David Gibson resigned.

In early May 2025, former National Party MP and cabinet minister Steven Joyce was nominated as a director candidate and expressed readiness to replace Barbara Chapman as chair before the annual meeting on 3 June. On 9 May, Grenon's company JTG 4 Limited agreed to a compromise: Grenon would join the board while withdrawing nominations for Crump, Gittings, and Henri Eliot. Under this agreement, Chapman would step down after the meeting; directors Sussan Turner, Guy Horrocks, and Carol Campbell would remain in place.

At the annual general meeting on 2 June 2025, Grenon was appointed as a director while Steven Joyce assumed the role of chairperson at NZME.

Political involvement

In the course of the 2023 New Zealand general election, Grenon registered as a promoter, which authorized him to conduct advertising efforts supporting a candidate, political party, or electoral matter.

Personal life

Jim Grenon and his wife Candice have been residents of Takapuna, Auckland since 2012. He possesses a property on Gibbons Road valued at NZ$14.6 million, originally acquired for approximately NZ$10 million in 2012.

He has two children from a prior marriage. From 2001 until 2016, Grenon was involved in legal proceedings within Canadian courts concerning the tax deductibility of expenses linked to a child custody conflict. He took his case to the Supreme Court of Canada and the Federal Court of Appeal, contending that men making child support payments should be permitted to deduct associated legal fees; however, the Federal Court ultimately rejected his appeal.