Wild Oats XI owner Bob Oatley dead at 87

Bob Oatley, the multi-millionaire owner of Hamilton Island and the highly successful Sydney to Hobart yacht Wild Oats XI, has died aged 87.

Mr Oatley had been unwell in recent months and died this morning.

Mr Oatley was No.34 on Australia's 2015 BRW Rich List, with his wealth gained from success in winemaking, initially through Rosemount Estates wine company.

More recently, he was the owner of boutique label Robert Oatley Vineyards.