David Hains ( – 22 January 2023) was an Australian businessman, engineer, and horse breeder. 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.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. In the 1960s, he took a seven-year hiatus from his career to play golf.
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 107 million.
Hains bred horses at his Kingston Park Stud in , Victoria. 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. His son Richard Hains is a hedge fund manager and author of the novel Chameleon. Helen Hains died on 24 August 2017.
Hains died on 22 January 2023, at the age of 92.
Wealth rankings In May 2019, The Australian Financial Review estimated Hains' net worth as 2.90 billion as published in the Financial Review Rich List; and in January 2019 his net worth was estimated by Forbes Asia as 1.90 billion as published in the list of Australia's 50 richest people. , 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, 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 2.88 billion.
Year Financial ReviewRich List Forbes Rank Net worth Rank Net worth 2011 2.30 billion 2.00 billion 2012 2.20 billion 2.00 billion 2013 2.32 billion 2.30 billion 2014 2.39 billion 2.10 billion 2015 2.46 billion 2.10 billion 2016 2.48 billion 1.90 billion 2017 2.55 billion 2018 2.69 billion 2019 2.90 billion 1.90 billion 2020 2.93 billion 2021 2.89 billion 2022 2.90 billion 2023 2.88 billion
Legend Icon DescriptionHas not changed from the previous yearHas increased from the previous yearHas decreased from the previous year
Notes : Since 2023, the Australian Financial Review assessed the net worth of Hains' descendants, Stephen, Richard and Michael Hains and family.
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