David Hains | |
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Born | c. 1931 Australia |
Died | Melbourne, Australia | 22 January 2023 (age 92)
Nationality | Australian citizenship |
Alma mater | University of Melbourne |
Occupation(s) | Billionaire businessman; investor; horse breeder |
Board member of | Portland House Group |
Spouse | Helen Hains |
Children | 5 |
David Hains (c. 1931 – 22 January 2023) was an Australian businessman, engineer, and horse breeder.[1][2] He was the founder and once CEO of Portland House Group, Australia’s largest private investments management firm and hedge fund. According to Forbes, Hains had at the time of his death a personal net-worth of around $2 billion, making him one of Australia’s richest person.[3]
Hains graduated from the University of Melbourne.[2] He started his career as an engineer and in corporate restructuring.[1][4] In the 1960s, he took a seven-year hiatus from his career to play golf.[5]
Through his Portland House Group, Australia's biggest hedge fund that he managed with his children, Hains invested in equities, fixed interest, property and managed funds globally.[2][1][4] In 1993, he sold an investment to Wheeling-Pittsburgh Steel for US$107 million.[1]
Hains bred horses at his Kingston Park Stud in Merricks North, Victoria.[2][1][6] His horses include Kingston Town, Lowan Star and Rose of Kingston.[1]
Hains was married to Helen Hains and had five children.[7] His son Richard Hains is a hedge fund manager and author of the novel Chameleon.[8] Helen Hains died on 24 August 2017.[7]
Hains died on 22 January 2023, at the age of 92.[9]
In May 2019, The Australian Financial Review estimated Hains' net worth as A$2.90 billion as published in the Financial Review Rich List;[10] and in January 2019 his net worth was estimated by Forbes Asia as US$1.90 billion as published in the list of Australia's 50 richest people.[11][12][13] As of May 2021[update], Hains was one of ten Australians who had appeared in every Financial Review Rich List, or its predecessor, the BRW Rich 200, since it was first published in 1984,[14][15] until his death in 2023. In 2023, the Financial Review, assessed the net worth of Hains' descendants, Stephen, Richard and Michael Hains and family, at A$2.88 billion.[16]
Year | Financial Review Rich List |
Forbes Australia's 50 richest | ||
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Rank | Net worth A$ |
Rank | Net worth US$ | |
2011[17][18][19] | 7 | 2.30 billion | 9 | 2.00 billion |
2012[20][21] | 12 | 2.20 billion | 11 | 2.00 billion |
2013[22] | 15 | 2.32 billion | 11 | 2.30 billion |
2014[23] | 12 | 2.39 billion | 12 | 2.10 billion |
2015[24] | 12 | 2.46 billion | 11 | 2.10 billion |
2016[25][1] | 14 | 2.48 billion | 10 | 1.90 billion |
2017[26] | 16 | 2.55 billion | 19 | |
2018[27] | 21 | 2.69 billion | 19 | |
2019[10][11] | 23 | 2.90 billion | 19 | 1.90 billion |
2020[28] | 28 | 2.93 billion | ||
2021[14] | 31 | 2.89 billion | ||
2022 | 36 | 2.90 billion | ||
2023[note 1][16] | 38 | 2.88 billion |
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