Tech players dominate Australian Young Rich List

Tech players dominate Australian Young Rich List

The list ranks the 100 wealthiest Australians under 40 years of age

Atlassian founders Mike Cannon-Brookes and Scott Farquhar

Atlassian founders Mike Cannon-Brookes and Scott Farquhar

Credit: Dreamstime

Online tech retailer Ruslan Kogan and Atlassian co-founders Mike Cannon-Brookes and Scott Farquhar are among the local entrepreneurs to have topped the latest Financial Review (AFR) Young Rich List

Kogan and the Atlassian co-founders were joined by the likes of Melanie Perkins and Cliff Obrecht, founders of online design platform Canva, Campaign Monitor co-founder Ben Richardson and Envato co-founders Collis and Cyan Ta’eed, among the top 20.

The latest list, which ranks the 100 wealthiest Australians under 40 years of age showcases the dominant place technology companies play in Australia’s economy, with no fewer than 10 of the top 30 ranked Young Richer listers either directly providing tech products and services or having built an offering around technology.  

Technology reseller Kogan claimed two individuals in the top 40, with the company’s founder and CEO coming in at number 15, with the AFR placing his wealth at around $332 million, and the online retailer’s CFO David Shafer ranked 34, with a wealth value of $98 million.

Unsurprisingly, Atlassian co-founders Cannon-Brookes and Farquhar were placed first and second, respectively. According to the AFR, Cannon-Brookes’ is worth $13.5 billion, while Farquhar claims $13.22 billion.

Ranked equally in third place are Canva co-founders Perkins and Obrecht, respectively CEO and COO of the company, with a value of $1.35 billion. The company’s other co-founder and chief product officer, Cameron Adams, was ranked 12th, with a value of $452 million.

Campaign Monitor co-founder, Richardson, came in just behind Adams, in 13th place, with a value of $382 million, according to the list, while founder of rostering software maker Deputy, Ashik Ahmed, was ranked 25, with a net worth of $148 million. 

Other technology players on the list include BigCommerce co-founders Mitchell Harper and Eddie Machaalani, ranked 39th and 41st, respectively. 

Meanwhile, co-founders of cloud certification training provider A Cloud Guru, Sam Kroonenburg and Ryan Kroonenburg, were placed 47th and 48th on the list, respectively, both with a net worth of $70 million.

Sam Chandler, founder and CEO of software maker Nitro, was ranked 75th, with a net worth of $38 million -- $10 million more than last year. According to the AFR, Nitro’s last capital raising effort was in 2017, with the company pulling in $15 million from investors.

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