David Hains
{{Short description|Australian businessman and horse breeder (1931-2023)}}
{{Distinguish|David Haines (disambiguation){{!}}David Haines}}
{{Use Australian English|date=June 2016}}
{{Use dmy dates|date=January 2023}}
{{Infobox person
| honorific_prefix =
| name = David Hains
| image =
| alt =
| caption =
| birth_date = {{circa|1931}}
| birth_place = Australia
| death_date = {{Death date|2023|01|22|df=yes}} (age 92)
| death_place = Melbourne, Australia
| nationality = Australian citizenship
| alma_mater = University of Melbourne
| occupation = Billionaire businessman; investor; horse breeder
| years_active =
| known_for =
| boards = Portland House Group
| spouse = Helen Hains
| children = 5
}}
David Hains ({{circa|1931}} – 22 January 2023) was an Australian businessman, engineer, and horse breeder.{{cite web |url=https://www.forbes.com/australia-billionaires/list/#tab:overall |title=Australia's 50 Richest People |work=Forbes Asia |date=2016 |access-date=8 June 2016}}{{cite web |url=https://www.forbes.com/lists/2012/78/australia-billionaires-12_David-Hains_R53H.html |work=Forbes Asia |title=Australia's 40 Richest: David Hains |date=2012 }} 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.[https://www.forbes.com/profile/hains/ 2024 Australia's 50 Richest Net Worth]. Forbes. 2024.
Biography
Hains graduated from the University of Melbourne. He started his career as an engineer and in corporate restructuring.{{cite book |first=Hilary |last=Rosenberg |title=The Vulture Investors |publisher=John Wiley & Sons |year=2000 |page=[https://archive.org/details/vultureinvestors00rose/page/103 103] |isbn=9780471361893 |url=https://archive.org/details/vultureinvestors00rose |url-access=registration |quote=David Hains australia. }} In the 1960s, he took a seven-year hiatus from his career to play golf.{{Cite web |title=David Hains |url=https://www.forbes.com/profile/david-hains/ |access-date=2023-01-23 |website=Forbes |language=en}}
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. In 1993, he sold an investment to Wheeling-Pittsburgh Steel for {{USD}}107 million.
Hains bred horses at his Kingston Park Stud in {{VICcity|Merricks North}}, Victoria.{{Cite web |url=http://www.kingstonparkstuds.com.au/#about |title=Kingston Park Studs |access-date=22 January 2013 |archive-url=https://web.archive.org/web/20120320062428/http://www.kingstonparkstuds.com.au/#about |archive-date=20 March 2012 |url-status=dead }} His horses include Kingston Town, Lowan Star and Rose of Kingston.
Personal life and death
Hains was married to Helen Hains and had five children.{{cite web|url=https://www.racenet.com.au/news/kingston-towns-billionaire-owner-david-hains-dies-aged-92-20230122|title=Kingston Town's billionaire owner dies, aged 92|work=Racenet|date=22 January 2023|access-date=22 January 2023}} His son Richard Hains is a hedge fund manager and author of the novel Chameleon.{{Cite news|url=https://www.heraldsun.com.au/news/victoria/richard-hains-a-thriller-unmasked/news-story/8498343b23fb61153029932efc0df613|title=Richard Hains a thriller unmasked|date=1 June 2007|work=Herald Sun|access-date=14 April 2019}} Helen Hains died on 24 August 2017.
Hains died on 22 January 2023, at the age of 92.{{Cite web |last=Bailey |first=Michael |last2=Thomson |first2=James |date=2023-01-23 |title=James Packer, Lloyd Williams lead tributes to David Hains |url=https://www.afr.com/rich-list/james-packer-lloyd-williams-lead-tributes-to-david-hains-20230123-p5ceos |access-date=2023-01-23 |website=Australian Financial Review |language=en}}
=Wealth rankings=
In May 2019, The Australian Financial Review estimated Hains' net worth as {{AUD}}2.90 billion as published in the Financial Review Rich List; and in January 2019 his net worth was estimated by Forbes Asia as {{USD}}1.90 billion as published in the list of Australia's 50 richest people.{{cite news |url=http://www.theaustralian.com.au/life/gallery-e6frg9zo-1226019117642?page=27 |work=The Australian |title=Forbes Billionaires }}{{cite news |author=D'Angelo Fisher, Leo |url=http://www.brw.com.au/p/sections/features/gift_of_giving_tough_sell_OwIg0ql99RSzol0Z1LJIxI |title=Gift of Gifting a Hard Sell |work=BRW |date=25 May 2011 }} {{as of|2021|05}}, 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,{{cite journal|url=http://www.brw.com.au/p/lists/rich-200/2013/celebrating_years_of_the_rich_EnUWZtuD02H4jYBFx0e3MM|last=Thomson|first=James|date=22 May 2013|access-date=22 May 2013|title=Celebrating 30 years of the Rich 200|journal=BRW Rich 200|archive-url=https://web.archive.org/web/20140727170000/http://www.brw.com.au/p/lists/rich-200/2013/celebrating_years_of_the_rich_EnUWZtuD02H4jYBFx0e3MM|archive-date=27 July 2014|url-status=dead}} 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 {{AUD}}2.88 billion.
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Notes
- {{note|1|[note 1]}}: Since 2023, the Australian Financial Review assessed the net worth of Hains' descendants, Stephen, Richard and Michael Hains and family.