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.
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.