What is observed as a golden era for the nation’s most successful young entrepreneurs, the Atlassian co-founders enjoys the top position on the list of young rich whose combined wealth is $14.2 billion. With the technology boom continuing and finance and anything fitness to dermal fill where majority of wealth is being built.
The 100 people aged 40 and under are collectively worth $23.5 billion, has not just surpassed the record wealth achieved last year $13.2 billion it has destroyed it. Many of them benefitted from big capital raisings boosting company valuations and surging share price.
Mike Cannon-Brookes and Scott Farquhar who topped the list for a seventh time combined wealth of $14.2 billion which is more than collective wealth of last year’s entire list. Whereas last year the pair were worth a combined $6.07 billion.
For their US-listed software company, their enormous wealth, driven by the surge in share price, which is nearly more than 14 times as much as the next two places on the list. Fintech whiz kid Nicholas Molnar, as investors flock to his business Afterpay Touch Group, his wealth has rocketed from $95 million last year to $341 million. Ilhan, the man behind Crazy John’s mobile phone chain, is sitting right behind in 16th place this year.
Tim Gurner, a Melbourne-based property developer spanning almost 7,000 apartments sits in third place this year with wealth of $631 million, his development company’s combined project value as he benefits from a number of property acquisitions that has been pushed to more than $5 billion.
New York-based Ori Allon, as he expands his real estate brokerage group Compass, has also enjoyed a surge in fortune, cementing him into fourth position, with his estimated wealth of $539 million. On this list this year the biggest movers, are equal 5 and 6 on this year’s list with combined wealth of $486 million are fitness entrepreneur Kayla Itsines and her fiancé Tobi Pearce. After enjoying enormous success with their fitness app Sweat, they are the wealthiest self-made 20-somethings in Australia. The app is available in seven different languages and in 155 countries. Since its inception in 2015, up to the $20-per-month subscription more than 30 million people have signed up.
Since the list was first published 15 years ago it’s the highest level of wealth achieved on debut. Seven years ago, thanks to a deal he cut with his older brother Lex which is the bulk of his fortune. To Lex in exchange for equity in his older brother’s finance start-up, Peter Greensill traded a bigger slice of his watermelon farm, that start up, Greensill Capital is now worth more than $2 Billion.
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.