David Harold Hains
1931 - 2023
David Hains. c. 1961.
Credit Herald and Weekly Times. News Ltd. / Newspix.
State Library of Victoria.
Accession No. H38849/1738.
Credit Herald and Weekly Times. News Ltd. / Newspix.
State Library of Victoria.
Accession No. H38849/1738.
David Hains was born to Lionel Joseph Goldsmith Hains and his wife Katie Isabel Jessica Hains, nee Machin. He spent his teenage years at his home at 12 Anne Street, McKinnon, Victoria, a short comfortable bicycle ride to Brighton Technical School in Berwick Street, Brighton, where he embarked on secondary school studies at the age of 12 years.
The Brighton Technical School Magazine, “Sea Spray”, December, 1946, page 19, records “D. Hains passed his Intermediate Technical Certificate at the Higher Standard.” Also, the “Sea Spray” magazine December, 1946, page 18, records “D. Hains was awarded an Evening Course for Certificate, five years, with an allowance of 10 Pounds per Year.”
David’s father, Lionel Hains, Clerk, died aged 53 years on the 25th. May, 1948 when David was 17 years of age. Lionel was late of the 6th. Battalion, 1st. AIF. In spite of the loss of his father David surged ahead developing his own business making various metal products, including an original design washing machine and a clothes dryer, which he marketed under the name “Hydromat”. At that time David was only 20 years of age.
“The Australian” newspaper, Monday, January 23, 2023 reported “Melbourne billionaire, David Hains, has died aged 92. Mr. Hains’ remarkable career spanned manufacturing in the 1950s, retailing, various take-overs, turning around a U.S. steel business, running Indian factories, property development and hedge fund investing in global equities, currencies, fixed income and other assets at Portland House, Collins Street, Melbourne, now run by his three sons.”
THE ENGAGEMENT OF DAVID HAINS
“The Argus” Saturday, 3 May, 1952, page 6, carried the engagement notice of David Hains to Helen Monsborough. “Helen, youngest daughter of Mr. and Mrs. G. A Monborough of 80 Chaucer Street, St. Kilda to David, only son of Mrs. K. Hains, and the late Mr. L. Hains of 12 Anne Street, Mc.Kinnon”.
On the 21st. November, 1953 David and Helen married at the Christ Church St. Kilda. At that time, David’s occupation was recorded on the Marriage Certificate as Manufacturer, and Helen’s occupation was Typist. Helen’s parents were George Alfred Monbourgh, Architect, and Mary Jane Monsbourgh, nee Reynolds.
When David Hains married Helen Monsbourgh he entered into a prosperous, well established Melbourne family of Architects.
Helen’s father, George Alfred Monsbourgh, who was born in 1892 -1991, studied at the Working Men’s College, later named the Royal Melbourne Institute of Technology. He established his own practice in 1916 and retired just over sixty years later in 1978. George’s elder brother, Alan Gordon Monsbourgh (1888 – 1938) was well-known as Chief Architect to the M.M.B.W. for two decades until his death.
In 1959, David Hains’ logical and brilliant brain directed him to real estate, so he purchased rolling acres of prime grazing property at 183 Bittern – Dromana Road, Merricks North, with a view to breeding and training his own stable of thoroughbreds.
David’s purchase of land at Merricks North, referred to in 1967 Certificate of Title Volume 8668 Folio 329 records that David Harold Hains of 39 Albany Road, Toorak, Company Director is now the proprietor of One Hundred and Forty Nine acres Three Roods Fourteen Perches and Nine Tenths of a Perch or thereabouts being Lots one, 3,6,7,8 and part of Lot 5 and a road on Plan of Subdivision No. 12490 and being part of Crown Allotments 55A and 55B, and 79A Parish of Balnarring, County of Mornington.
The properties referred to in Certificate of Title Vol. 8668 Fol. 329 were transferred to Portland Properties Pty. Ltd. of 8 Collins Street, Melbourne on the 9th. August, 2012.
One year after consolidating his Kingston Park Stud properties in 1967, David and his family purchased a luxury Toorak Mansion on a large parcel of land in Albany Road, Toorak.
A successful business man at only 37 years of age.
When David Hains married Helen Monsbourgh he entered into a prosperous, well established Melbourne family of Architects.
Helen’s father, George Alfred Monsbourgh, who was born in 1892 -1991, studied at the Working Men’s College, later named the Royal Melbourne Institute of Technology. He established his own practice in 1916 and retired just over sixty years later in 1978. George’s elder brother, Alan Gordon Monsbourgh (1888 – 1938) was well-known as Chief Architect to the M.M.B.W. for two decades until his death.
In 1959, David Hains’ logical and brilliant brain directed him to real estate, so he purchased rolling acres of prime grazing property at 183 Bittern – Dromana Road, Merricks North, with a view to breeding and training his own stable of thoroughbreds.
David’s purchase of land at Merricks North, referred to in 1967 Certificate of Title Volume 8668 Folio 329 records that David Harold Hains of 39 Albany Road, Toorak, Company Director is now the proprietor of One Hundred and Forty Nine acres Three Roods Fourteen Perches and Nine Tenths of a Perch or thereabouts being Lots one, 3,6,7,8 and part of Lot 5 and a road on Plan of Subdivision No. 12490 and being part of Crown Allotments 55A and 55B, and 79A Parish of Balnarring, County of Mornington.
The properties referred to in Certificate of Title Vol. 8668 Fol. 329 were transferred to Portland Properties Pty. Ltd. of 8 Collins Street, Melbourne on the 9th. August, 2012.
One year after consolidating his Kingston Park Stud properties in 1967, David and his family purchased a luxury Toorak Mansion on a large parcel of land in Albany Road, Toorak.
A successful business man at only 37 years of age.
The 1959 era brought about another major event in the life of David Hains. He met the famous Australian champion golfer, Norman Von Nida who, in the following years, exerted a strong influence on his life. Under Von Nida’s tuteledge David began to breed and race thoroughbreds. Charged with procuring broodmares for Kingston Park Stud, Von Nida attended auctions for Kingston Park Farm. He attended auctions in the Southern Hemisphere looking for Nearco and/or Ribot bloodstock, convinced that these bloodlines would be a perfect match with the right Southern Hemisphere stallions.
Von Nida’s faith in the Tesio breeding method turned Kingston Park Stud into an almost overnight success.
David Hains’ horses carried the iconic yellow and red silks. (With a touch of brown, those colours would have been the Brighton Technical School colours – red, yellow and brown).
David Hains’ reputation as a horse breeder and trainer grew, along with his reputation as a canny and successful financial trader. He and his family became famous as they worked their financial magic out of their investment hub known as Portland House at 8 Collins Street, Melbourne. They were one of the country’s most successful business houses.
Von Nida’s faith in the Tesio breeding method turned Kingston Park Stud into an almost overnight success.
David Hains’ horses carried the iconic yellow and red silks. (With a touch of brown, those colours would have been the Brighton Technical School colours – red, yellow and brown).
David Hains’ reputation as a horse breeder and trainer grew, along with his reputation as a canny and successful financial trader. He and his family became famous as they worked their financial magic out of their investment hub known as Portland House at 8 Collins Street, Melbourne. They were one of the country’s most successful business houses.
Left to Right: Trainer Bart Cummings, Helen Hains, Jockey, and
Winning owner David Hains
1990.
Credit: Rennie Ellis / Pictures Collection. State Library of Victoria.
Accession No. H2010. 104/453.
Winning owner David Hains
1990.
Credit: Rennie Ellis / Pictures Collection. State Library of Victoria.
Accession No. H2010. 104/453.
THE AMERICAN INVESTMENT SCENE
In the early 1990s. David Hains turned his sights onto the American investment scene. He had been a driving force in the industrial scene in Australia so he was well-suited to examine the financial problems that plagued Wheeling Pittsburgh.
Wheeling Pittsburgh Steel had a long and tempestuous history before the vulture investors swooped on the scene. The Company was founded in 1920 in Wheeling, West Virginia and merged with Pittsburgh Steel in 1968.
Once David Hains had examined Wheeling Pittsburgh woes he teamed with another noted financial tycoon, Ronald La Bow, known as one of the "Investors", to invest in and take an active part in the bankruptcy proceedings.
“The Australian” newspaper, 23 January, 2023 reported that La Bow and David Hains and partners took the failed Wheeling-Pittsburgh Steel Company in the United States out of bankruptcy and turned it around.
David Hains made his fortune buying, restructuring and selling businesses before becoming an investor. The family’s main source of wealth is the private Portland House Group which invests in equities, bonds and currencies in international markets.
As mentioned earlier, David Hains married Helen Monbourgh on the 21st. November, 1953. They had five children, Cathy, Stephen, Richard, Michael and Paul Hains. Stephen now manages Portland House’s bonds and derivatives division, Richard handles managed funds and Michael the equities holdings. Cathy breeds racehorses and his other son, Paul, funded online magazine Aeon in London.
Wheeling Pittsburgh Steel had a long and tempestuous history before the vulture investors swooped on the scene. The Company was founded in 1920 in Wheeling, West Virginia and merged with Pittsburgh Steel in 1968.
Once David Hains had examined Wheeling Pittsburgh woes he teamed with another noted financial tycoon, Ronald La Bow, known as one of the "Investors", to invest in and take an active part in the bankruptcy proceedings.
“The Australian” newspaper, 23 January, 2023 reported that La Bow and David Hains and partners took the failed Wheeling-Pittsburgh Steel Company in the United States out of bankruptcy and turned it around.
David Hains made his fortune buying, restructuring and selling businesses before becoming an investor. The family’s main source of wealth is the private Portland House Group which invests in equities, bonds and currencies in international markets.
As mentioned earlier, David Hains married Helen Monbourgh on the 21st. November, 1953. They had five children, Cathy, Stephen, Richard, Michael and Paul Hains. Stephen now manages Portland House’s bonds and derivatives division, Richard handles managed funds and Michael the equities holdings. Cathy breeds racehorses and his other son, Paul, funded online magazine Aeon in London.
UNDER THE KINGSTON PARK STUD BANNER
Possibly, the most famous horse to race under the Kingston Park Stud banner would be Kingston Town (31 August,1976 – March 1991), who won a record three Cox Plates and 11 other Group One races in a career spanning from 1979 to 1982. In 1980 he was awarded the honour of being the Australian Champion Racehorse of the year. Kingston Town was bred by David Hains, who sold a share in him to George Monsbourgh and his wife after the horse failed to reach his reserve price as a yearling. (George Monsbourgh and his wife were the parents of David Hains’ wife, Helen Amelia Hains.)
David also bred the 1990 Melbourne Cup winner Kingston Rule who won the race in record time.
David also bred the 1990 Melbourne Cup winner Kingston Rule who won the race in record time.
PRIVATE CONTACT WITH DAVID HAINS
On the 6th. August, 2017, I, Shirley Joy, wrote to David Hains at his Portland House, 8 Collins Street, Melbourne address, requesting him to write a short summary of his thoughts and memories about his school years at Brighton Technical School.
I did not receive a written reply from him but, on the 14th. August, 2017, he telephoned me to have a discussion. The first question he asked was “how do you know I attended Brighton Technical School”? I replied that “the information was in the “Canberra Times” in May, 1994.”
When I asked him if he had looked at the Brighton Technical School History Website, he replied, “I am not allowed to use a computer”. I did not pursue that topic, but it could have been most interesting!
The “Herald Sun” newspaper on Monday 23rd. January, 2023 reported that “Kingston Town’s owner and Melbourne based billionaire, David Hains, has died. According to “Forbes” Hains had an estimated net worth of $2.89 billion, making him Australia’s 18th. richest person.”
A month later “The Age” 21 February, 2023, 4.06 p.m., carried the headlines “Late billionaire David Hains" Toorak mansion expected to fetch more than $40 million.”
The home was built in the early 1940s. and is covered by a heritage overlay because of its historical significance in Toorak.
David Hains purchased the property at 39 Albany Road, Toorak, not long after he purchased the rolling acres that make up the Kingston Park Stud Farm at 183 Bittern-Dromana Road, Merricks North. Two major property purchases in a period of a few years.
I did not receive a written reply from him but, on the 14th. August, 2017, he telephoned me to have a discussion. The first question he asked was “how do you know I attended Brighton Technical School”? I replied that “the information was in the “Canberra Times” in May, 1994.”
When I asked him if he had looked at the Brighton Technical School History Website, he replied, “I am not allowed to use a computer”. I did not pursue that topic, but it could have been most interesting!
The “Herald Sun” newspaper on Monday 23rd. January, 2023 reported that “Kingston Town’s owner and Melbourne based billionaire, David Hains, has died. According to “Forbes” Hains had an estimated net worth of $2.89 billion, making him Australia’s 18th. richest person.”
A month later “The Age” 21 February, 2023, 4.06 p.m., carried the headlines “Late billionaire David Hains" Toorak mansion expected to fetch more than $40 million.”
The home was built in the early 1940s. and is covered by a heritage overlay because of its historical significance in Toorak.
David Hains purchased the property at 39 Albany Road, Toorak, not long after he purchased the rolling acres that make up the Kingston Park Stud Farm at 183 Bittern-Dromana Road, Merricks North. Two major property purchases in a period of a few years.
THE RICH LIST
“The Australian” Magazine “The List” 2020, Edition published a reference to David Hains and his family.
“The Hains family wealth, managed from an understated building in Melbourne’s prestigious Collins Street precinct, is mostly tied to the low profile Portland House Group, which holds a variety of investment assets around the world. Hains is considered one of the best investors in recent Australian history, having undertaken an eclective mix of business pursuits spanning steel mills in the U.S., mining projects in W.A., land in Jamaica and factories in India. He also owned the famous horse Kingston Town and won a Melbourne Cup with Kingston Rule.
He even spent nine years mid-career playing golf. The family wealth is now managed mostly from New York and London by Hains’ three sons.”
“The Hains family wealth, managed from an understated building in Melbourne’s prestigious Collins Street precinct, is mostly tied to the low profile Portland House Group, which holds a variety of investment assets around the world. Hains is considered one of the best investors in recent Australian history, having undertaken an eclective mix of business pursuits spanning steel mills in the U.S., mining projects in W.A., land in Jamaica and factories in India. He also owned the famous horse Kingston Town and won a Melbourne Cup with Kingston Rule.
He even spent nine years mid-career playing golf. The family wealth is now managed mostly from New York and London by Hains’ three sons.”
EPILOGUE
"The disciplined, logical and controlled approach to life set by Mr. Topperwein, the Principal, and other masters at Brighton Technical School, was a fine example for David Hains to emulate as he navigated his way through the many challenges of life and the demands of the corporate world.
It must have, to some degree, contributed to his success as he mixed with people from all walks of life, the scientists who managed the successful equine breeding programmes to the statisticians who logged the influences that governed the financial outcomes in the business world.
His years at Brighton Technical School offered invaluable training for life in the corporate world, the world where David Hains not only survived but navigated his way with much skill.
Life at Brighton Technical School was such that "tall poppies did not survive there". A well-grounded approach to daily life was essential.
It must have, to some degree, contributed to his success as he mixed with people from all walks of life, the scientists who managed the successful equine breeding programmes to the statisticians who logged the influences that governed the financial outcomes in the business world.
His years at Brighton Technical School offered invaluable training for life in the corporate world, the world where David Hains not only survived but navigated his way with much skill.
Life at Brighton Technical School was such that "tall poppies did not survive there". A well-grounded approach to daily life was essential.
FURTHER READING
Chameleon by Richard Hains. Published in the United States by Beaufort Books, New York. Copyright 2006 by Richard Hains.
The Vulture Investors : the winners and losers of the great American feeding frenzy, by Hilary Rosenberg. Published by Harper Business. A Division of Harper-Collins Publishers. Copyright 1992 by Hilary Rosenberg.
The Vulture Investors : the winners and losers of the great American feeding frenzy, by Hilary Rosenberg. Published by Harper Business. A Division of Harper-Collins Publishers. Copyright 1992 by Hilary Rosenberg.
Winning owner David Hains, trainer Bart Cummings, Jockey and Helen Hains,
1990.
Credit Rennie Ellis / Pictures Collection. State Library of Victoria.
Accession No. H2010. 104/453.
1990.
Credit Rennie Ellis / Pictures Collection. State Library of Victoria.
Accession No. H2010. 104/453.