$5.22 billion (US) in net worth
Age: c. 99 – 101
DOB: 1922 or 1923
Birthplace: Kempsey, NSW
About Len Ainsworth
Len Ainsworth is an iconic Australian businessman who is best known for being the founder of Aristocrat Leisure – one of the biggest gambling-machine companies in the world.
He started the company way back in 1953, remaining active in it for 40 years before leaving after a cancer scare. He then went on to found Ainsworth Gaming Technology – where he assumed the role of executive director until retiring in 2019 (at the grand old age of at least 95 years old!).
How Did Len Ainsworth Accrue His Wealth?
Ainsworth’s father left him a small business in his will, which he used to create poker machines that helped increase revenue for his other business – dental supplies and equipment manufacturing venture.
Although this was a side project, it grew rapidly, eventually becoming his main gig in 1953 when it became Aristocrat Leisure – now one of the world’s largest makers of traditional slot machines and online gaming entertainment.
In 1984, Ainsworth was diagnosed with prostate cancer, so he sold Aristocrat, providing significant funds for his family – some of whom still continue their tradition of philanthropy. After being given the all-clear on his diagnosis, Ainsworth retired for a while, before founding Ainsworth Gaming Technology, which manufactures around 35 per cent of Australia’s gambling machines.
At age 94, Ainsworth sold the majority stake he owned in Ainsworth Gaming Technology for A$473 million to Novomatic.
Charitable Giving
Ainsworth is known for his philanthropic efforts, having given away millions of dollars to various charitable causes over the years, including Western Sydney University, which received a donation of $10 million from him. He has also given money to St Vincent’s Private Hospital, Sydney Children’s Hospital Foundation, University of New South Wales, University of Wollongong and Children’s Medical Research Institute.
In 2017, he also signed The Giving Pledge – a commitment by the world’s richest individuals and their families to donate the majority of their wealth to charitable causes.
Legacy
Despite his generous charitable donations, Ainsworth has faced plenty of criticism from certain sections of the public and media in Australia.
Most notably, this has come from those who point to his gaming machines’ adverse effects on people who have played them – essentially ruining lives through addiction, poverty and associated actions.
The Australian newspaper even once published a controversial article about him titled ‘Is Len Ainsworth the Devil incarnate?’
Reflecting on his legacy, Ainsworth has been quoted as saying he would like to be remembered as a good person. He also references the thousands of people in need he has helped over the years – particularly those in hospitals, requiring healthcare and at universities.
He also said, ‘I don’t care about my reputation’ when asked if he should feel guilty about how he has been portrayed in the media and accumulated his wealth.
However he is remembered, one thing is for sure, Lee Ainsworth will leave a legacy that will remain for many years.
Personal Life
Ainsworth has been married twice and has seven children – all boys. Five of them were born to Betty, his first wife, while his second wife Margarette bore two sons.
In 2018, Ainsworth was bestowed the Member of the Order of Australia for his contributions to manufacturing and business, as well as his charitable giving.