From tech bosses raking in $17.7bn to the country’s youngest billionaires: Australia’s richest millennials are revealed – and their bold career moves could inspire you to make a fortune
- Australian Financial Review have unveiled their annual Young Rich List for 2020
- Richest person in Australia under 40 was Atlassian co-founder Scott Farquhar
- Youngest billionaire on the list was AfterPay’s Nicholas Molnar, at 30 years old
Australian’s top ten richest people under 40 have been revealed – with more than half the list getting their wealth by shifting into tech businesses.
The Australian Financial Review has given a glimpse of their annual Young Rich List, ahead of its full publication on Friday.
Atlassian co-founder Scott Farquhar, 40, landed the top spot with an estimated wealth of $17.77billion.
It was the first time he made the list without his partner in the company, Mike Cannon-Brookes, as he turned 41 earlier this month.
Melanie Perkins and Cliff Obrecht (pictured together) are worth a combined $3.43billion after founding the graphic design platform Canva
Atlassian co-founder Scott Farquhar (pictured), 40, landed the top spot with an estimated wealth of $17.77billion
Farquhar began a trend of wealth accumulated from tech, with 56 out of the top 100 wealthiest people gaining their fortune from the industry.
The founders of the graphic design platform Canva placed second and third on the list.
Melanie Perkins and Cliff Obrecht founded the company in 2012 and are expected to have a combined wealth of $3.43billion, an increase from 2019’s $1.35billion.
The third founder of the company – Cameron Adams – is fifth on the list with $1.2billion.
The youngest billionaire on the list at just 30 years old is Nick Molnar, the founder of AfterPay, who is worth $2.22billion.
He started the buy now, pay later company in 2014, and is the fourth person on the list.
The youngest billionaire on the list at just 30 years old is Nick Molnar (left), the founder of AfterPay, who is worth $2.22billion, while Ori Allon (right) lands the eighth spot
Perth’s online gaming king Laurence Escalante has placed sixth on the list.
He began Virtual Gaming World in 2010, and in the tenth year since the company’s inception has an estimated wealth of $919million.
Peter Greensill, who’s brother Lex operates a capital finance company designed to help maximise a business’s return, comes in at seventh with $788million.
Ori Allon lands the eighth spot after making his wealth when he sold his search algorithms to Twitter and Google only to go on and launch online property marketplace Compass.
He is worth $695million.
Ninth place goes to business partners Mitchell Harper, who co-founded BigCommerce with Eddie Machaalani.
The final spot on the list goes to Ruslan Kogan, who runs e-retailer Kogan. He is worth $685million.
The final spot on the list goes to Ruslan Kogan, (pictured) who runs e-retailer Kogan. He is worth $685million