• Full Young Rich List out tomorrow on afr.com and inside AFR Magazine
• Top 100 Young Rich Listers worth a collective $39.6 billion
• Atlassian co-founder Scott Farquhar #1 Young Rich Lister worth $17.77b
• Basketballer Ben Simmons (#58 worth $66 million) and tennis player Ash Barty (#100 worth $28 million) are the youngest on List at 24-years-old
• Tech entrepreneurs make up more than half the Young Rich List by number and 81 per cent of value
• 12 women in top 100
• Average age of Young Rich List is 35

Atlassian co-founder Scott Farquhar tops the Financial Review 2020 Young Rich List with a record-breaking wealth of $17.77 billion that accounts for nearly half of the entire wealth of the Top 100.

The 100 wealthiest self-made young Australians in 2020 have a collective wealth of $39.6 billion – slightly down from $41.2 billion in 2019. The fall in aggregate wealth is driven by Mike Cannon Brookes retiring from the list, having turned 41 years of age.

In a year that has seen the acceleration of technology due to the COVID-19 pandemic, a staggering 81 per cent of the wealth represented by the Young Rich is linked to tech. 56 of the 100 people on the list have built fortunes from tech. It marks the first time since the Young Rich List was created in 2003 when a majority of people on the list are tech entrepreneurs.

With more than 30 million people now using Canva’s beginner-friendly graphic design software, founders Melanie Perkins and her fiancé Cliff Obrecht have taken #2 and #3 spots and are worth $3.43 billion. Their business partner Cameron Adams is #5 worth $1.12 billion. And thanks to a lockdown-induced online retail binge, Afterpay founder Nick Molnar is Australia’s youngest billionaire at 30-years-old, worth $2.22b and #4 on the list.

The Financial Review Young Rich List has tracked the wealth of Australia’s wealthiest people aged 40 and under since 2003. Young Rich Listers must not have inherited their wealth.
 
There are 18 debutants on the list, including Zoe Foster Blake worth an estimated $36 million thanks to the success of her Go-To skincare label, and the founders of Sleeping Duck, Selvam Sinnappan and Winston Wijeyeratne, are worth $150 million each.
 

“There’s a consistent theme among those debuting on our Young Rich List and that is to back yourself 100 per cent. Many of them started with nothing more than an idea and a garage to work out of but have gone on to forge incredible fortunes,” said Rich List co-editor Julie-anne Sprague.

“From online gaming innovator Laurence Escalante near the top, to cloud computing enablers Ben Bromhead and Adam Zegelin who sneak in at #99 and #100, the Young Rich List includes technology entrepreneurs of a number and breadth of applications never before seen,” said Rich List co-editor Michael Bailey
 

The Financial Review Young Rich List 2020 Highlights

TOP 10 (worth a collective $24.54 billion)

1   Scott Farquhar, 40, $17.77 billion (up from $13.22b) – Atlassian
2&3 Melanie Perkins and Cliff Obrecht,34 & 32, $3.43 billion (up from $1.35b) – Canva
4    Nicholas Molnar, 30, $2.22 billion (up from $564 million) – Afterpay
5    Cameron Adams, 40, $1.12 billion (up from $452 million) – Canva
6    Laurence Escalante, 39, $919 million (up from $57 million) – Virtual Gaming Worlds
7    Peter Greensill, 39, $788 million (up from 745 million) – Agribusiness, Fin Services
8    Ori Allon, 40, $695 million (down from $747 million) – Compass
9    Mitchell Harper, 38, $694 million (up from $86 million) – Technology
10  Ruslan Kogan, 37, $685 million (up from $332 million) – Kogan

 
ENTERTAINMENT/PUBLIC FIGURES

1. Miranda Kerr, 37, $120 million (up from $98m) – Manufacturing/Retail (#41 on YRL)
2. Chris Hemsworth, 37, $90 million (up from $66m) – Arts (#47)
3. Jennifer Hawkins, 36, $60 million (up from $35m) – Manufacturing/Retail (#60)
4. Margot Robbie, 30, $55 million (up from $35m) – Arts (#64)
5. Zoe Foster Blake, 40, $36 million (debutant) – Retail/Beauty (#84)

 
SPORT

1. Adam Scott, 40, $223 million (#25) – Golfer
2. Andrew Bogut, 35, $102 million (#46) – Retired basketballer
3. Daniel Ricciardo, 31, $85 million (#50) – F1 driver
4. Jason Day, 33, $83 million (#51) – Golfer
5. Ben Simmons, 24, $66 million (#58) – Basketballer

*Ash Barty, 24, debuts on list at #100 worth $28 million, and Samantha Stosur, 36, debuts at #88 worth $36 million.
 
TOP 5 WOMEN RICH LISTERS

1. Melanie Perkins (#1) – $3.43 billion
2. Cyan Ta’eed (#13) – $566 million
3. Kayla Itsines (#27) – $209 million
4. Miranda Kerr (#41) – $120 million
5. Jennifer Hawkins (#60) – $60 million

  
WHERE THEY LIVE:

1. NSW – 38 Young Rich Listers
2. VIC – 24
3. USA – 16
4. QLD – 8
5. UK – 6
6. WA – 3
7. SA – 2
8. Other overseas – 3

The Financial Review Young Rich List is available on www.afr.com and a special Young Rich List edition of AFR Magazine, featuring profiles and analysis of the trends that are making them even richer, is available nationally tomorrow Friday, November 27.

For media enquiries:
Adrian Motte
Communications Manager, Nine
amotte@nine.com.au

Thursday, November 26, 2020