The wealth of the richest self-made Australians aged 40 and under has surged 25 per cent, driven higher by alternative energy, retail and the property sector, reveals the Financial Review 2023 Young Rich List released in full tomorrow.

• Canva co-founders Melanie Perkins and Cliff Obrecht are #1 and #2 on the Young Rich List worth $13 billion, down from $13.7 billion.
• 20th anniversary of the Young Rich List, the first issue of which was led by mobile phone retailer John Ilhan and was filled with sportspeople, actors and singers.
• Alternative energy, retail and property take out 26 slots of this year’s top 100, with Adrian Portelli debuting on the List at #7 worth $1 billion. He made headlines last year after buying two houses on The Block and winching his McLaren sports car 57 storeys into his $39 million Melbourne penthouse.  
• Ben Simmons is Australia’s richest sports star under 40, worth $191 million,  while Chris Hemsworth is the nation’s wealthiest young actor also worth $191 million. 
• Miranda Kerr remains the richest celebrity under 40, with a wealth pile of $256 million, up from $173 million.
• Fortunes derived from technology slump from 41 to 31.

Australia’s richest young entrepreneurs who have invested in retail and hospitality take out 26 of the 100 slots on this year’s list. Green energy has created three new Rich Listers and property has produced five. 

While these sectors are booming, the number of tech fortunes has fallen from 41 to 31. That said, wealth derived from tech still dominates the top 10 spots, with Canva co-founders Melanie Perkins, 36, and husband Cliff Obrecht, 37, continuing their run at the top of the Young Rich List with a combined wealth of $13 billion down from $13.7b last year. 

The couple have a $10 billion lead on the next Young Rich Lister, Ed Craven, the co-founder of online cryptocurrency casino site stake.com who has a wealth of $3.1 billion. 

This year marks the 20th anniversary of the Young Rich List. Its first edition inside BRW Magazine in 2003 was topped by John ‘Crazy John’ Ilhan, seller of discounted Nokia phones and featured Pat Rafter, Russell Crowe and Kylie Minogue. Sportspeople, actors and singers dominated the first Young Rich Lists.

The 2023 Financial Review Young Rich List reveals the more diverse ways the next generation of entrepreneurs are building their fortunes. Sam Prince, the 39-year old founder of Mexican restaurant chain Zambrero, lifted his wealth to $1.6 billion, up from $1.2 billion last year, putting him in the #4 spot on the Young Rich List. Jack Zhang and his fellow co-founders of Airwallex, a cross border payments system now worth $8.5 billion, have seen their wealth estimates rise 50 per cent or more. Zhang is #5 on the list with an estimated fortune of $1.4 billion.

With the Young Rich List featuring 16 debutants, none is more ostentatious than Melbourne’s Adrian Portelli, who comes in at #7 worth $1 billion. The founder of rewards club company LMCT+, Portelli stayed under the radar until he bought two houses on last year’s series of The Block. He then paid $39 million for a Melbourne penthouse and had a $3 million McLaren high performance car craned 57 floors up into his loungeroom.    

“Despite the cost-of-living crisis, the Young Rich List shows it’s still possible to create new wealth,” said Rich List editor Michael Bailey. 

“Higher interest rates have brought fast-growth software businesses back to earth, and the $37.7 billion total wealth on 2023’s Young Rich List is still below 2021’s record $41.3 billion. But there are still solid profits in glamorously-marketed yet affordable fashion, and renewable energy solutions to climate change. 

“Meanwhile the five basketballers on the List – make that six next year once Sydney’s Josh Green starts fulfilling his new $64 million contract with the Dallas Mavericks – show that a good jump-shot is recession-proof too.” 

Miranda Kerr remains the richest celebrity under 40, with a wealth pile of $256 million, up from $173 million to come in at #25. Australia’s wealthiest Young Rich sport star is Brooklyn Nets basketball star Ben Simmons, worth $191 million (#38) followed by F1 driver Daniel Ricciardo worth $167 million (#45).

Meanwhile, Hollywood star Chris Hemsworth increased his wealth by $57 million to $191 million, up from $162 million (#37) while a global obsession with Barbie has resulted in Margot Robbie having a wealth of $152 million up from $102 million and coming #47 on the List. 

The Financial Review Young Rich List 2023 Highlights

TOP 10 (worth a collective $23.9 billion)
1&2 Melanie Perkins and Cliff Obrecht,36 & 37, $13 billion  – Canva
3 Ed Craven, 28, $3.1 billion – stake.com online casino
4 Sam Prince, 39, $1.6 billion – Zambrero Mexican restaurant & healthcare
5 Jack Zhang, 38, $1.4 billion – Airwallex 
6 Nicholas Molnar, 33, $1.2 billion – Afterpay
7 Adrian Portelli, 34, $1 billion – LMCT+ rewards 
8 Jacob Dai, 39, $966 million – Airwallex 
9 Robert Chamberlain, 39, $877 million – Huno Group travel
10 Max Li, 39, $771 million – Airwallex

ENTERTAINMENT/CELEBRITIES
1 Miranda Kerr, 40, $256 million – Manufacturing/Retail (#25 on the Young Rich List)
2 Chris Hemsworth, 39, $191 million – Arts (#37)
3 Margot Robbie, 33, $152 million – Arts (#47) 
4 Jennifer Hawkins, 38, $107 million – Manufacturing/Retail (59)

SPORT
1 Ben Simmons, 27, $191 million (#38) – Basketballer
2 Daniel Ricciardo, 34, $167 million (#45) – F1 driver
3 Jason Day, 35, $141 million (#49) – Golfer
4 Andrew Bogut, 38, $116 million (#56) – Retired basketballer
5 Cameron Smith, 30, $106 million (#61) – Golfer 

TOP 5 WOMEN  
1 Melanie Perkins (#1) – $13 billion (combined wealth) 
2 Jessica Sepel (#15) – $454 million (combined wealth)
3 Tah-nee Beard (#20) – $359 million (combined wealth)
4 Miranda Kerr (#25) – $256 million
5 Kayla Itsines (#42) – $171 million

The Financial Review Young Rich List is available on www.afr.com from Friday, October 27. The Young Rich List also appears in a special edition of AFR Magazine, featuring profiles and analysis of the trends that are making the Young Rich even richer, which is inside this Friday’s Financial Review newspaper.  

Image of cover of AFR Magazine Young Rich List HERE

For further information, please contact:
Adrian Motte
Senior Communications Manager – Trade & Publishing 
amotte@nine.com.au

Thursday, October 26, 2023