Michael Fay

Sir Humphrey Michael Gerard Fay (born 10 April 1949) is a New Zealand merchant banker and partner in the merchant bank Fay Richwhite. He is one of the ten richest men in New Zealand. His personal wealth was largely acquired during the late 1980s and early 1990s, which included the period in which he had a significant role in the structural adjustment of the New Zealand economy undertaken by New Zealand's Fourth Labour Government. He is thought to be worth in excess of NZD 920 million, making him the 10th richest New Zealand citizen in 2017.

Early life and family Fay was born in Auckland on 10 April 1949. He was educated at St Peter's College, Auckland and St Patrick's College, Silverstream, and studied law at Victoria University of Wellington, graduating LLB in 1971. to settle insider trading proceedings relating to Tranz Rail. The commission stated that the payments had been made "without any admission of liability". Fay sailed on the boat during the 1988 America's Cup. The Stars & Stripes catamaran easily won. The bad press generated by Fay's heavily litigious approach to yacht racing heralded an era of better management and agreement for future challenges.

In the 1990 Queen's Birthday Honours, Fay was appointed as a Knight Bachelor, for services to merchant banking and yachting.

Fay was inducted into the America's Cup Hall of Fame in 2002.

Sport and domicile

Fay is also the chairman of and was the financial backer of the Samoa national rugby union team. Fay now resides in New Zealand and, with David Richwhite, owns Great Mercury Island. They have spent $750,000, matching the same amount contributed by the Department of Conservation, to make the island (which is open to the public) pest-free, in a programme beginning in 2014.