Leonard Ainsworth

Leonard Hasting "Len" Ainsworth AM (born 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.[3]

Len Ainsworth

AM
Born
Leonard Hasting Ainsworth

1922 or 1923 (age 97–99)[1]
Kempsey, NSW
NationalityAustralian
Occupation
  • Businessman
  • Philanthropist
Years active1953–2021
Known forAristocrat Leisure
Notable work
Innumerable undisclosed
Net worth
Children7

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.[4]

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.[4] Following a clear diagnosis, Ainsworth initially retired and then established Ainsworth Gaming Technology, a manufacturer of up to about 35 per cent of Australia’s gambling machines.[4] Ainsworth sold his majority stake in Ainsworth Gaming Technology to Novomatic for A$473 million, when he was aged 94 years.[1][5][6]

Personal life

Ainsworth has 7 sons, 5 to his first wife Betty and later 2 to his second wife Margurette. 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.[7]

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,[4] and the University of New South Wales.[8] He has been awarded two honorary doctorates, the first by the University of NSW and most recently in 2019 by the University of Wollongong.[4] 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.[3]

Year Financial Review
Rich List		 Forbes
Australia's 50 Richest
Rank Net worth (A$) Rank Net worth (US$)
2015[9] 24 $1.20 billion
2016[10] 33 $0.76 billion
2017[11][12][13] 11 $3.07 billion
2018[14] 14 $4.02 billion 31
2019[15][1] 17 $4.01 billion 42 $0.90 billion
2020[2] 18 $4.42 billion
Legend
Icon Description
Has not changed from the previous year
Has increased from the previous year
Has decreased from the previous year

References
  1. "2019 Australia's 50 Richest". Forbes Asia. January 2019. Retrieved 28 September 2019.
  2. 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.
  3. "Len Ainsworth". Forbes.
  4. "Len Ainsworth AM: Honorary Doctor of Science". University of Wollongong. n.d. Retrieved 20 December 2020.
  5. "Australia's pokies king Len Ainsworth reflects on 70 years in the business". ABC News. Australia. 19 September 2017. Retrieved 20 December 2020.
  6. 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.
  7. Kruger, Colin (10 June 2018). "Len Ainsworth honoured for poker machines and philanthropy". The Sydney Morning Herald.
  8. "Gaming billionaire Ainsworth donates millions to UNSW". Australian Financial Review. 11 April 2014.
  9. "2015 Australia's 50 Richest". Forbes Asia. March 2015. Retrieved 10 June 2015.
  10. "Gina Rinehart Loses Her No. 1 Spot". Forbes Asia. 27 January 2016. Retrieved 22 October 2019.
  11. Stensholt, John, ed. (25 May 2017). "Financial Review Rich List 2017". The Australian Financial Review. Retrieved 8 June 2017.
  12. Mayne, Stephen (26 May 2017). "Mayne's take: The top 25 Australian billionaires, as claimed by Fairfax". Crikey. Private Media. Retrieved 10 October 2019.
  13. "Australia's Richest 2017: Country's Wealthiest Continue Mining For Dollars". Forbes Asia. 1 November 2017. Retrieved 28 September 2019.
  14. Stensholt, John, ed. (25 May 2018). "2018 AFR Rich List: Who are Australia's richest people?". The Australian Financial Review. Retrieved 26 May 2018.
  15. Bailey, Michael (30 May 2019). "Australia's 200 richest people revealed". The Australian Financial Review. Nine Publishing. Retrieved 31 May 2019.
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