Mike Cannon-Brookes and Scott Farquhar top 40 and under rich list for 6th time
Australia’s top 100 wealthiest people aged 40 and under for 2017 have been announced.
Atlassian co-founders Mike Cannon-Brookes and Scott Farquhar top the 2017 Financial Review Young Rich List with combined wealth of $6.08bn.
The technology duo’s rise in wealth follows a surge in the share price of their software company Atlassian on the US NASDAQ exchange market. Cannon-Brookes and Farquhar have topped the Young Rich List a record six times, jointly taking out the number one spot in 2012, 2013, 2014, 2015, 2016 and again this year.
Cannon-Brookes and Farquhar’s wealth total as of 2017 equals more than 10 times the wealth of the next two placegetters on this year’s Young Rich List.
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The third and fourth spots on the 2017 Young Rich List are occupied by another technology duo - Dave Greiner and Ben Richardson – with a combined wealth of $607mn. Greiner and Richardson are co-founders of Sydney web marketing services company Campaign Monitor.
Number five on the List in Melbourne property developer Tim Gurner, who runs development company Gurner.
Gurner, whose wealth sits at $465mn, hit the headlines in May this year after saying that young Australians would struggle to buy a home when they were “spending $40 a day on smashed avocados and coffees and not working”.
The 100 members of the 2017 Financial Review Young Rich List have enjoyed a stunning rise in wealth this year, with a booming property sector, technology market and beauty industry boosting overall wealth to a record $13.2bn.
Technology remains the dominant sector for 2017 with 38 people on the List, followed by financial services with 12 and retail with eight.
The youngest debutants are HiSmile co-founders Nik Mirkovic and Alex Tomic. The Gold Coast duo, aged 22 and 24 respectively, debut at 58 and 59 with a combined wealth of $46mn.
See the full Financial Review Young Rich List on AFR’s website.