Leonard “Len” Ainsworth

Name:Leonard “Len” Ainsworth

Origin:Australia

Age:96 years, born in 1923.

Education:Diploma, High School

Business Type:Gaming Machines Technology

Main Achievements:

Having a net worth of approximately $900 Billion, Leonard Ainsworth is the 42nd in the 50 wealthiest persons of Australia, according to the Forbes List of 2019. He is the founder of the world’s leading (to be precise, 2nd largest) gaming and betting machine company Aristocrat Leisure and Ainsworth Game Technology. “Aristocrat” now operates not only in Australia but also across some 90 countries whereas, AGT is based in Europe, Asia, Australia, North, and Latin America.

Something Interesting about the Person:

He has seven sons to whom he has given off his massive stake some 20 and more years prior to today.

 

 

About $50 Millions are his overall charities, fundings, and givings. He is famous for such charitable acts.

Biography:

Leonard or Len Ainsworth is a native to Australia, who now resides in Sydney. He was born in 1923. His father was a dentist who crafted dentist tools and supplies as a hobby. His son later turned it into business, effectively “ruining” the father’s hobby. Len began his Greatest Business of Gaming Machines in 1953, the Aristocrat Leisure. It was created in collaboration with and in response to an Englishman Joe Haywood, by at first just making up the poker machines. Their vision was to make and sell the gadgets for mere livelihood. In 1954, he even survived an enemy attack on his factory. During 1956 and 1958, his company, the Aristocrat, created the World’s First Poker Machine, which had a scorecard and fully lit reels.

 

1969 saw the initial expansion of the company from Australia to America and Europe. Since then, it has widely encompassed other continents as well. In the seventies, Aristocrat had another astonishingly innovative machine having five reels. They also introduced the electronic game Wild West in the late ’70s.

 

By the 1980 and onwards, profound changes were observed in the slot machine industries. They also started operating in London and began their Casino Systems Business by issuing forth, the Legendary Microstar slot machines. Some of these are still in use to this day. In this decade, a legislative change made way for further growth of the company through another method. They started to provide their machines on lease for such entertainment venues.

 

(via Getty Images)

 

 

After just two years, the company was established on the Australian Stock Exchange, going from private to public. Hence, his family’s revenues increased significantly. A few years and Len’s second and currently-run company, “The Ainsworth Game Technology,” came into being. This company is similar to Aristocrat and hence its good rival.

 

He was titled as the ‘Export Hero’ in 2002. Len is popularly known to be philanthropic because of his humble and generous ways.

 

Ainsworth has been keen on aiding the medical, health, and disease research departments. One such proceeding has been to fund Sydney’s Children’s Hospital at Westmead through Ainsworth Chair of Technology and Innovation in 2014. In 2016, Len sold his stake for $473 million.

 

He announced and joined the brilliant initiative to donate half his wealth for charitable causes by signing up the Giving Pledge in 2017. In the same year, he resigned as the executive director at AGT. But his creative nature still plays remarkably in the gaming technology field and charitable deeds. His family was ranked 23rd in TheFinacial Reviews among the other 50 philanthropists.

 

 

The year 2019, however, has proven to be a drastic and damaging year to AGI. Len Ainsworth had to urge the shareholders for a manifestation of firm belief and hope in the investments.

 

His company, the Ainsworth Game Technology, holds the honor of having a 35% share in the manufacture of all gaming machines in Australia. He has famously helped with heaps, the Sydney Children’s Hospital Foundation, UNSW, St Vincent’s Private Hospital, and the Children’s Medical Research Institute.

Links:

https://probonoaustralia.com.au/news/2017/05/australian-philanthropist-joins-giving-pledge/

https://www.afr.com/companies/games-and-wagering/ainsworth-urges-shareholders-to-keep-the-faith-20191028-p534uj

https://glasspockets.org/philanthropy-in-focus/eye-on-the-giving-pledge/profiles/leonard-h.-ainsworth

https://www.abc.net.au/news/2017-09-19/australias-pokie-king-len-ainsworth-on-70-years-in-the-business/8945524

https://www.agtslots.com/

https://www.aristocrat.com/about/our-history/

https://amp.smh.com.au/business/companies/len-ainsworth-honoured-for-poker-machines-and-philanthropy-20180608-p4zkgm.html

https://www.afr.com/companies/games-and-wagering/len-ainsworths-473m-payday-doesnt-mean-retirement-at-94-20180112-h0h67u&ved=2ahUKEwjdroXcktnoAhWI2qQKHTkUAAwQFjAPegQIBhAB&usg=AOvVaw0flfnk8bHTRQahRQQ2419A

https://www.uow.edu.au/alumni/honorary-alumni/honorary-doctorates/len-ainsworth-am/

https://amp.smh.com.au/national/nsw/pokie-king-finds-rich-interest-in-philanthropy-20120427-1xqb1.html

https://www.gettyimages.co.uk/detail/news-photo/australian-gaming-industry-tycoon-len-ainsworth-at-his-news-photo/540131419