David Hains
Australian businessman and horse breeder (1931-2023)
From Wikipedia, the free encyclopedia
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 the richest person of Australia.[3]
David Hains | |
|---|---|
| Born | c. 1931 Australia |
| Died | 22 January 2023 (age 92) Melbourne, Australia |
| Alma mater | University of Melbourne |
| Occupations | Billionaire businessman; investor; horse breeder |
| Board member of | Portland House Group |
| Spouse | Helen Hains |
| Children | 5 |
Biography
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]
Personal life and death
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]
Wealth rankings
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$2.88 billion.[16]
| Year | Financial Review Rich List |
Forbes Australia's 50 richest | ||
|---|---|---|---|---|
| Rank | Net worth A$ |
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 |
||
| Legend | |
|---|---|
| Icon | Description |
|
Has not changed from the previous year |
|
Has increased from the previous year |
|
Has decreased from the previous year |
Notes
- ^[note 1] : Since 2023, the Australian Financial Review assessed the net worth of Hains' descendants, Stephen, Richard and Michael Hains and family.