A fireworks display paid for by US billionaire Anthony Malkin set off a blaze on New Year’s Eve.

The incredibly expensive fireworks were fired off soon as the New Year dawned at a luxurious hilltop property in Dalefield, a rural location on the outskirts of Queenstown, as per British media. The tremendous spectacle led the flames to ignite in three locations.

Simultaneously, firemen were summoned to combat multiple grass fires on the property of Anthony Malkin, CEO of the organization that owns the Empire State Building, when the blaze had already spread to an area of 5,000 square meters. 

The flames were put out by 2.30 am, but firefighters remained on the scene until 7 am to monitor the situation.

Malkin's guests were evacuated as the fire reached from 15 meters away.

Local neighbors have already petitioned for the cancellation of fireworks, claiming that the loud noises from explosions would be detrimental to animals. Locals are now calling for a ban on private fireworks displays, citing safety concerns.

"It’s just a joke that an out-of-towner can come in and set off a 14-minute commercial firework display and then burn the hill down," said Johnny Quinn, the man who launched the petition.

"It basically upset the entire neighborhood. Everyone within the area had to make plans. People changed their holiday plans. And you’ve got all the FENZ [Fire Emergency New Zealand] people who are inconvenienced. They've all got families,” he added.

Malkin's family spokesperson said as quoted by British media that there would be no statement other than one expressing how he was "deeply grateful for the expert work" of the FENZ and police.