Aussie dad's tragic overseas holiday death

AN Aussie father-of-three and businessman has died after he was hit by a boat while diving off the coast of the Spanish island of Ibiza.

Stephen Jones, 40,  from Melbourne, was diving off the island of Formentera, an island south of Ibiza last week, with his wife and six friends to celebrate his birthday.

However, tragedy struck when Mr Jones was hit and killed by a boat.

It's understood he died within minutes and officials have opened an investigation into his death.

Mr Jones was the son of prominent businessman Russell Jones, who while head of Amcor was involved in a price-fixing scandal with Visy boss Richard Pratt.

The tragedy took place off the coast of Ibiza in the Balearic Islands. Picture: iStock
The tragedy took place off the coast of Ibiza in the Balearic Islands. Picture: iStock

He set up an online homewares firm House of Home and was the executive director at Canadian investment banking firm Canaccord.

He leaves behind three children under 10.

His father-in-law Andrew de Crespigny told the Herald Sun Mr Jones was "the most magnificent person".

"He would do anything for anyone," he said. "He was a very caring individual and always had time for people. He was outgoing, polite and considerate.

"We were absolutely blessed to have a son-in-law the calibre of Stephen. We have lost one of the most fine gentlemen you could meet."

The Department of Foreign Affairs is now assisting the family.