Alan Bond
Businessman who bankrolled the 1983 America's Cup win.
These included his central role in the WA Inc scandals of the 1980s; the biggest corporate collapse in Australian history; and also his criminal conviction for fraud that saw him serve four years in prison before being released on parole.
- died
- 5 June 2015
- field
- Business
- nationality
- UK-born Australian
- known_for
- WA Inc scandals, America's Cup victory, Bond University, corporate collapse, fra
Lore & Background
He began his career as a signwriter under the name 'Nu-Signs' after terminating his apprenticeship early. In 1987, Bond purchased Vincent van Gogh's painting Irises for $54 million, funded by a loan from Sotheby's that he failed to repay. He feigned brain damage to avoid answering questions during bankruptcy trials.
Reader's Guide
Alan Bond's significance lies in his dual legacy as a celebrated figure in Australian sport and a symbol of corporate corruption. However, his business empire collapsed in the biggest corporate failure in Australian history, driven by fraudulent practices that led to his conviction and imprisonment. Bond's career illustrates the volatility of leveraged expansion and the consequences of financial deception. His founding of Bond University remains a tangible, if controversial, contribution to Australian education. His eventual return to mining investments after prison shows a persistent engagement with business, though his reputation never fully recovered.
Did You Know?
- He began his career as a signwriter under the name 'Nu-Signs' after terminating his apprenticeship early.
- In 1987, Bond purchased Vincent van Gogh's painting Irises for $54 million, funded by a loan from Sotheby's that he failed to repay.
- He feigned brain damage to avoid answering questions during bankruptcy trials.
Frequently Asked Questions
Who is Alan Bond?
Alan Bond (1938–2015) was a British-born Australian entrepreneur who built a vast commercial empire in Western Australia before it collapsed in the 1980s. He remains one of the most polarizing figures in Australian business history, remembered for both extraordinary ambition and deep corruption.
What was Alan Bond's role in the 1983 America's Cup?
Bond personally bankrolled the Australian syndicate that defeated the New York Yacht Club, ending their 132-year unbroken hold on the trophy. His sponsorship turned him into a global celebrity and is widely regarded as his single most celebrated achievement.
What were the WA Inc scandals and how did they involve Alan Bond?
The WA Inc affair in the mid-1980s uncovered a corrupt relationship between Bond's sprawling business group and the Western Australian state government, culminating in the largest corporate collapse in Australian history. The scandal brought down the state's Labor government and led to criminal prosecution of Bond himself.
Did Alan Bond serve time in prison?
Yes, he was convicted of fraud and sentenced to four years behind bars, later being released on parole. His imprisonment became a defining element of his public story, overshadowing many of his earlier accomplishments.
What lasting institution did Alan Bond create?
He founded Bond University on the Gold Coast in Queensland, a private university that continues to operate after his death. It stands as one of his more enduring and positive contributions to Australian life.
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