Leonard Ainsworth

Len Ainsworth
AM
Born
Leonard Hasting Ainsworth

1922 or 1923 (age 100–101)[1]
Kempsey, New South Wales, Australia
Occupations
Years active1953-2019
Known forAristocrat Leisure
Spouses
  • Betty Ainsworth
    ​
    (divorced)​
  • Margarete (Gretel) Ainsworth
Children7

Leonard Hasting "Len" Ainsworth AM (born c. 1923) is an Australian businessman, most widely known for founding Aristocrat Leisure, one of the world's largest gambling-machine companies. He founded the company in 1953, and remained active until 1994; and later founded Ainsworth Gaming Technology, and was an executive director until 2019.[2]

Career

Ainsworth inherited a small business from his father and began making poker machines to boost revenues for his dental supplies and equipment manufacturing venture. This side-line quickly grew, and Aristocrat Leisure was born in 1953. Today, it is one of the world's largest manufacturers of slot machines and online gaming entertainment.[3]

Following a 1984 diagnosis of prostate cancer, Ainsworth sold Aristocrat, giving significant funds to his family, several members of which continue the tradition of philanthropy.[3] Following a clear diagnosis, Ainsworth initially retired and then established Ainsworth Gaming Technology, a manufacturer of up to about 35 percent of Australia’s gambling machines.[3] Ainsworth sold his majority stake in Ainsworth Gaming Technology to Novomatic for A$473 million, when he was aged 94 years.[1][4][5]

Personal life

Ainsworth has seven sons, five to his first wife Betty and later, two to his second wife Margarette (Gretel). In 2018, Ainsworth was appointed as a Member of the Order of Australia (AM) for his impact on business and manufacturing as well as his service to the community through philanthropic contributions.[6]

Ainsworth has donated to the Sydney Children’s Hospital Foundation, UNSW, St Vincent’s Private Hospital and the Children's Medical Research Institute, the University of Wollongong,[3] and the University of New South Wales.[7] He has been awarded two honorary doctorates, the first by the University of NSW and most recently in 2019 by the University of Wollongong.[3] Ainsworth signed The Giving Pledge in March 2017.[1]

Net worth

In 2019, Ainsworth was ranked 42nd on the Forbes list of 50 wealthiest Australians, with an estimated net worth of US$900 million.[2] As of May 2021, Ainsworth was listed seventeenth on the Financial Review 2023 Rich List with an estimated net worth of A$5.22 billion.[8]

Year Financial Review
Rich List 		Forbes
Australia's 50 Richest
Rank Net worth (A$) Rank Net worth (US$)
2014[9] 19 Increase $1.82 billion Increase
2015[10] 24 Decrease $1.20 billion Decrease
2016[11] 33 Decrease $0.76 billion Decrease
2017[12][13][14] 11 $3.07 billion Increase
2018[15] 14 Decrease $4.02 billion Increase 31 Decrease
2019[16][1] 17 Decrease $4.01 billion Decrease 42 Decrease $0.90 billion Increase
2020[17] 18 Decrease $4.42 billion Increase
2021[18] 16 Increase $5.04 billion Increase
2022 11 Increase $7.70 billion Increase
2023[8] 17 Decrease $5.22 billion Decrease
Legend
Icon Description
Steady Has not changed from the previous year
Increase Has increased from the previous year
Decrease Has decreased from the previous year

References

  1. ^ a b c d "2019 Australia's 50 Richest". Forbes Asia. January 2019. Retrieved 28 September 2019.
  2. ^ a b "Len Ainsworth". Forbes.
  3. ^ a b c d e "Len Ainsworth AM: Honorary Doctor of Science". University of Wollongong. n.d. Retrieved 20 December 2020.
  4. ^ "Australia's pokies king Len Ainsworth reflects on 70 years in the business". ABC News. Australia. 19 September 2017. Retrieved 20 December 2020.
  5. ^ Kruger, Colin (30 November 2016). "Len Ainsworth's family have billion reasons to thank Aristocrat boss Jamie Odell". The Sydney Morning Herald. Retrieved 20 December 2020.
  6. ^ Kruger, Colin (10 June 2018). "Len Ainsworth honoured for poker machines and philanthropy". The Sydney Morning Herald.
  7. ^ "Gaming billionaire Ainsworth donates millions to UNSW". Australian Financial Review. 11 April 2014.
  8. ^ a b Bailey, Michael; Sprague, Julie-anne (26 May 2023). "The 200 richest people in Australia revealed". Australian Financial Review. Retrieved 6 June 2023.
  9. ^ "Len Ainsworth's wealth up $200m, doesn't notice". MediaMan. Australia. 27 June 2014. Retrieved 30 May 2021.
  10. ^ "2015 Australia's 50 Richest". Forbes Asia. March 2015. Retrieved 10 June 2015.
  11. ^ "Gina Rinehart Loses Her No. 1 Spot". Forbes Asia. 27 January 2016. Retrieved 22 October 2019.
  12. ^ Stensholt, John, ed. (25 May 2017). "Financial Review Rich List 2017". The Australian Financial Review. Retrieved 8 June 2017.
  13. ^ Mayne, Stephen (26 May 2017). "Mayne's take: The top 25 Australian billionaires, as claimed by Fairfax". Crikey. Private Media. Retrieved 10 October 2019.
  14. ^ "Australia's Richest 2017: Country's Wealthiest Continue Mining For Dollars". Forbes Asia. 1 November 2017. Retrieved 28 September 2019.
  15. ^ Stensholt, John, ed. (25 May 2018). "2018 AFR Rich List: Who are Australia's richest people?". The Australian Financial Review. Retrieved 26 May 2018.
  16. ^ Bailey, Michael (30 May 2019). "Australia's 200 richest people revealed". The Australian Financial Review. Nine Publishing. Retrieved 31 May 2019.
  17. ^ Bailey, Michael; Sprague, Julie-anne (30 October 2020). "The full list: Australia's wealthiest 200 revealed". The Australian Financial Review. Nine Publishing. Retrieved 31 October 2020.
  18. ^ Bailey, Michael; Sprague, Julie-anne (27 May 2021). "The 200 richest people in Australia revealed". Australian Financial Review. Retrieved 28 May 2021.