Billionaire sailor Bob Oatley dead at 87
SYDNEY (AP) Bob Oatley, an America's Cup Challenger of Record aspirant in 2014 and owner of eight-time Sydney to Hobart-winning yacht Wild Oats XI, has died. He was 87.
His death was announced in separate statements on Sunday by Matt Allen, president of Yachting Australia, and John Cameron, Commodore of the Cruising Yacht Club of Australia.
Oatley died at his home Sunday of an unspecified illness.
He began his working life as a 15-year-old office boy without qualifications and went on to make a fortune estimated at $1 billion as an exporter of coffee beans, a winegrower and the owner of the Hamilton Island resort.
Oatley is survived by his wife Valerie and three children Sandy, Ian and Ros.