SA dealmaker Aaron Hickmann’s empire in ruins as 22 firms face collapse, $135m debt and not a dollar to his name

Bankrupt entrepreneur Aaron Hickmann’s personal finances have been revealed as more companies in his crumbling empire face collapse.

In 2022 Aaron Hickmann announced himself to Adelaide’s movers and shakers when he stole the stage with a bizarre speech to 700 people at a Business SA lunch, delivering his six tips for becoming wealthy and successful.

Inspired by Arnold Schwarzenegger’s ‘Six Rules of Success’, Mr Hickmann spent nearly 30 minutes advising guests to: Trust yourself; Break the rules/break the mould; Don’t be afraid to fail; Don’t listen to the naysayers; Work your butt off; Give something back.

But just three years later his empire is in tatters, and now the bankrupt businessman claims he’s been left without a dollar to his name, despite the tax office chasing him over a $135m debt claim.

Mr Hickmann’s lighting company Vailo rose to prominence when it was announced as the naming rights sponsor to resurrect Adelaide’s annual Supercars event, just weeks after the Business SA speech. The company is at the centre of a complex web of companies being investigated by liquidators as they look to untangle Mr Hickmann’s business empire.

According to a statement of affairs prepared by Mr Hickmann following his fall into bankruptcy in April, the 36-year-old claims he has no bank accounts, owns no property, nor car, super, shares, bitcoin or expensive jewellery.

Vailo founder Aaron Hickmann during happier times.

He is renting at an undisclosed location, and claims he earned a $180,000 salary in the 12 months leading up to his bankruptcy. He expects to earn $60,000 in wages and salary in the subsequent 12-month period.

Despite the Australian Taxation Office claiming it’s owed almost $135m from Mr Hickmann and his business interests, he has maintained that the “genuine tax debt” is closer to $343,000 – a figure included in his statement of affairs.

The financial disclosures come as the trustee of Mr Hickmann’s bankrupt estate looks to hammer in another nail in the coffin of his business and property empire.

Aaron Hickmann’s empire continues to crumble.

John Sheahan of Sheahan Lock Partners has applied to wind up 22 companies linked to Mr Hickmann, spanning his vast business and property interests in commercial property, vineyard holdings, manufacturing and engineering ventures.

Sheahan Lock principal Oliver Sheahan said the winding up application formed part of the trustee’s process to secure all assets under Mr Hickmann’s previous control.

“These are the 22 companies of which Mr Hickmann remains the sole shareholder. Those shares vest in the trustee,” he said.

Aaron Hickmann and his wife Maxine. Picture: Facebook

“The trustee has elected to exercise his powers to apply to the court to wind these companies up. If and when the 22 companies are wound up then we’ll review their financial positions and investigate the extent of their asset positions, including any shareholdings they may have in other companies.

“If appropriate, steps may then be taken to wind up those companies as well.”

The winding up application is due to be heard in the Supreme Court on September 9.

Mr Sheahan said the trustee would also assess the ATO’s debt claim as part of its ongoing investigations into Mr Hickmann’s business affairs.

“We’re progressing our investigations, vis-à-vis the assets of the estate and potential claims and recovery actions,” he said.

“If and when we’re in a position to pay a dividend from the estate, we will then formally adjudicate all creditor claims, including that submitted by the ATO.”

Mr Hickmann has been contacted for comment.

Originally published as SA dealmaker Aaron Hickmann’s empire in ruins as 22 firms face collapse, $135m debt and not a dollar to his name