AUSTRALIAN billionaire Bob Oatley, 87, has died.
The Sydney Morning Herald reports on the death of the Sydney-to-Hobart fanatic, who owned Hamilton Island.
Oatley made his fortune in coffee in Papua New Guinea, and from Rosemount wine.
Wild Oates XI won the iconic Sydney-to-Hobart race for the eighth time in 10 years in 2014
Forbes magazine last year estimated his net worth to be $910 million, while he was listed at number 49 on last year’s BRW Rich List, with an estimated wealth of $1 billion.
The multi-millionaire entrepreneur founded Rosemount Estate winery in 1969 and expanded it as a private company over three decades.
Rosemount went global, becoming the second-biggest selling Australian wine brand in the US and Australia’s largest family owned winery.
Two years later the Oatley family bought Hamilton Island for $200 million, pouring large amounts of money into re-developing the Whitsunday resort into a world-renowned luxury island destination.
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