VIDEO: 30th Anniversary of Australia’s America’s Cup win

To mark the 30th anniversary of Australia’s famous win against the US in the 1983 America’s Cup yacht race, former Labor Prime Minister Bob Hawke speaks about the 74-year-old Alan Bond, who bankrolled the challenge, describing Bond as an “outstanding Australian”.

For a time Bond was the nation’s largest brewer and set up Australia’s first privately funded university. However, in 1992 Bond was bankrupted for $622 million, which still stands as the second-largest personal bankruptcy in history.

In 1997, he served four years in prison for defrauding $1.2 billion from his then publicly listed Bell Group. The incident was described as Australia’s biggest corporate fraud, with many small investors losing money.

After a 19-year absence from the nation’s rich list, Bond resurfaced in 2008 with a personal fortune estimated to be worth $265 million.

The seventh and deciding race of the 1983 America’s Cup was September 26, 1983.