David Hains

Not to be confused with David Haines.

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]

David Hains
Born	c. 1931 Australia
Died	(2023-01-22)22 January 2023 (age 92) Melbourne, Australia
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

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.