Total cumulative wealth contracts to $43.42 billion, down from $45 billion in 2025, driven by global volatility, inflation, and a major tech valuation correction.
Canva co-founders Melanie Perkins and Cliff Obrecht retain the #1 ranking for the sixth straight year, despite a $6 billion hit to their combined personal fortune.
The AI infrastructure race mints new mega-fortunes, with Nscale founders Josh Payne (#7) and Nathan Townsend (#8) making explosive debuts.
18 dynamic newcomers inject fresh energy across property, medtech, and fitness, while Australian Test captain Pat Cummins makes his debut at #96.
The Financial Review Young Rich List for 2026 has revealed a turbulent year of wealth creation, with the collective fortune of Australia’s 100 richest people aged 40 and under dropping to $43.42 billion – down $1.6 billion from 2025 – amid high inflation, shifting bond markets, geopolitical conflict, and intense volatility across tech valuations.
Leading the list for the sixth consecutive year are Canva co-founders Melanie Perkins, aged 39 and Cliff Obrecht, 40. However, the design juggernaut suffered a steep $10 billion valuation drop from its 2025 peak of $60 billion after issues surrounding its AI product rollout and heavy reliance on costly third-party AI models, wiping $6 billion from the founders’ combined valuation.
Despite Canva’s headwinds, the race to build physical artificial intelligence infrastructure has powered sensational wealth gains. Novocastrian tech entrepreneur Josh Payne makes his top10 debut at #7 after his London-based AI infrastructure and cloud computing giant, Nscale, filed to list on the New York Stock Exchange with a potential $US35 billion valuation and landmark contracts with Microsoft and Anthropic. Payne’s Arkon Energy and Nscale co-founder Nathan Townsend also debuts inside the elite tier at #8.
Tim Rosenfield, co-founder of data centre provider Firmus Technologies, takes out the #3 spot on the list following successive capital rounds. His valuation was calculated before Firmus pulled its initial public offering on October 9 and would likely be lower if recalculated today. Cousin and co-founder Oliver Curtis, 41, has aged off the list.
Rounding out the top tier are Ed Craven (Stake.com and Kick) and Adrian Portelli (LMCT+), alongside White Fox fashion founders Daniel and Georgia Contos, who climbed 12 spots to #5 on the back of rapid international expansion into the US, UK, and Canada, paired with a $150 million Vaucluse property portfolio.
Traditional paths to wealth creation, particularly bricks and mortar, remain as resilient as ever, with at least nine listers amassing fortunes in real estate. Among the 18 debutants are former
McDonald’s worker turned portfolio investor Eddie Dilleen (#58), who controls a $150 million property portfolio, Graya luxury development co-founder Rob Gray (#65), and over-50s luxury resort founder Adrian Puljich of GemLife (#11).
Medtech and health also claimed significant ground. Thomas Kelly, founder of AI clinical transcription startup Heidi, debuted at #45 ($169 million), while Tim Doyle (#55) and Charlie Gearside (#66) profited from the $1.6 billion sale of Eucalyptus to US health titan Hims & Hers. In fitness and wellness, CSB and Move With Us founder Rachel Dillon debuted at #74, joining her husband, Sweat co-founder Tobi Pearce (#57).
Australian sport continues to breed multi-millionaires, with more basketballers (seven) making the list than AI data centre founders. Australian cricket captain Pat Cummins debuted at #96, buoyed by commercial earnings and early tech investments including preventative health startup Everlab, while retired NBA star Aron Baynes re-entered at #100.
The Australian Financial Review’s Rich List Editor, Hannah Tattersall, highlighted the sheer volatility and sector churn defining this year’s top 100: “Between the AI boom, market corrections and persistent inflation, global markets have been spinning and the numbers on this year’s list reflect that turbulence. While the headline wealth dropped by $1.6 billion, largely driven by Canva’s $6 billion personal valuation reset, the hunger to build businesses hasn’t slowed down.
What makes this year so compelling is the contrast. You have hyperscalers like Nscale securing $US40 billion commitments from global tech giants on one hand, and traditional self-starters like Eddie Dilleen turning a $20,000 McDonald’s savings stash into 200 properties on the other. But staying on the list remains the real test, as the collapse of companies run by former Young Rich Listers, like Stax and Geedup, proves just how unforgiving the current economic cycle can be.”
The Australian Financial Review Magazine Editor, Matthew Drummond, said the 2026 edition reflects an extraordinary divergence between old-school entrepreneurship and high-stakes tech bets: “From the global scramble for gigawatt-scale AI data centres to luxury property developments and athleisure crop tops, the 2026 Young Rich List captures Australian ambition operating in a far more complex economic climate.
It is a year defined by sharp recalibrations. While capital has flooded into next-generation AI infrastructure, the margin for error has narrowed dramatically. The list is a clear reminder that building enduring wealth requires far more than just riding a global trend – it demands ruthless commercial execution.”
The complete 2026 Financial Review Young Rich List, featuring full profiles, deep-dive features, and sector rankings, is available today, Friday, October 30, online at AFR.com and in a special glossy edition of The Australian Financial Review Magazine.
The Financial Review Young Rich List 2026 Highlights
TOP 10 (worth a collective $27.168 billion, using exact wealth figures)
- Melanie Perkins and Cliff Obrecht, aged 39 & 40, $12.50 billion – Canva
- Ed Craven, 31, $5.20 billion – Stake.com
- Tim Rosenfield, 40, $1.71 billion – Firmus Technologies
- Adrian Portelli, 37, $1.41 billion – LMCT+
- Georgia and Daniel Contos, 35 & 36, $1.38 billion combined – White Fox Boutique
- James Ferguson and Robbie Ferguson, 34 & 29, $1.33 billion combined – Immutable
- Josh Payne, 32, $1.23 billion – Nscale
- Nathan Townsend, 38, $1.23 billion – Arkon Energy
- Nick Molnar, 36, $1.17 billion – Block, Afterpay
- David Riches, 40, $808 million – GenusPlus
Friday 30 October, 2026
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