Michael Robert Hamilton Holmes à Court (27 July 1937 – 2 September 1990) was a South African-born Australian businessman who became Australia's first billionaire, before dying suddenly of heart failure in 1990 at the age of 53.
Holmes à Court died intestate, and his estate was to be divided one-third for his widow Janet (née Ranford), and the remainder equally among their four children, who include Peter, Paul, and Simon.
In what he later described as his most challenging "takeover" — probably because it was his first —, he found a way to invest $500,000 in the ailing business, on the proviso that the state Minister for Industry, Sir Charles Court, would persuade the Government of Western Australia to forgive the $500,000 in loans they had made.
In 1973, Holmes à Court's AWM acquired Bell Brothers, a well-known West Australian transport and contracting group, for $9.6 million, through a reverse takeover.
These bids, while unsuccessful, earned significant profits mainly by aggressive defences from owners resulting in inflated share prices held by the bidder.
Bell Group subsequently purchased ATV Music, owners of the Beatles publishing rights and a few small regional radio stations in Western Australia.
Unsuccessful bids were made for Carlton & United Breweries and Elders IXL but, as usual, Holmes à Court's strategic corporate planning let him walk away with a profit.
In 1985, BRL acquired 13% of U.S. mining company Asarco for $140 million and made an unsuccessful bid for Perth utility Fremantle Gas & Coke.
Also in 1985, BRL made its biggest and most daring bid to date for control of resources and steelmaking giant BHP, which was Australia's largest company.
By the time of the October 1987 international stockmarket crash, Bell Group had accumulated assets that were valuable but not generating revenue sufficient to cover debts.
Merrill Lynch withdrew its $1 billion line of credit facility, meaning that the parent couldn't acquire its subsidiary and thereby access the money.
Holmes à Court initially disposed of some Perth properties before accepting a joint takeover by Bond Corporation and the State Government Insurance Commission (SGIC), in which both parties took a 19.9% stake in Bell Group.
During 1988, Holmes à Court concentrated on the rebuilding and expansion of his Heytesbury subsidiaries acquiring Stoll Moss Theatres in London, Sherwin Pastoral Co (owner of vast cattle stations in Northern Australia), and the Vasse Felix winery in Margaret River.
[17] Holmes à Court died intestate and his estate was to be divided one-third for his widow Janet (née Ranford), and the remainder equally among their four children.
The couple's eldest son, Peter Holmes à Court, is now a major investor and entrepreneur in his own right, after divesting himself of his share of Heytesbury, reported as A$35 million.
[18] Peter Holmes à Court, along with Russell Crowe, is the 75.8% owner of National Rugby League club South Sydney Rabbitohs.