Sad news… Bob Oatley has passed away age 87. He developed the Audi Race Week at Hamilton Island, probably Australia’s most high-profile yachting event after the Sydney-Hobart, and tried to mount a challenge for the America’s Cup in 2013 but had to pull out because of the cost.
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There were a lot of concerns about Oatley’s deteriorating health in recent months, however he was on hand for the traditional passing of his walking cane to Wild Oats’ skipper Mark Richards two days before the start.
He more recently owned the boutique label Robert Oatley Vineyards, based in Mudgee in NSW.
A fiercely proud Australian, he was appointed an Officer of the Order of Australia in 2014 for “distinguished service to the Australian wine and tourism industries [and] to the sport of yacht racing”. Oatley sold Rosemount wines for an extraordinary A$1.4 billion ($1.49b) in 2001 to Treasury Wine Estates, after building it up as a private company over three decades from meagre Hunter Valley beginnings in 1969.
Mr Oatley was worth an estimated $910 million AUD.
He bought Hamilton Island in 2003 for about $200 million and spent more than $350 million on its redevelopment.
“It’s the greatest thing that’s ever happened to me in my life”, a jubilant Mr Oatley said as he celebrated the 2012 win.
Oatley’s passion for yachting extended beyond the Sydney to Hobart race.
“Twice he got the triple, line honours and broke the record both times”.
Mr Oatley leaves behind his wife, Valerie, daughter Ros and sons Ian and Sandy.
‘A record which still stands as far as the time to complete the race is concerned so a awful loss to our sport’.
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Bob Oatley was the direct descendant of convicts transported to Australia for stealing bed linen, and yet he amassed a personal fortune of over $1 billion.
