{"id":35366,"date":"2021-10-29T15:50:12","date_gmt":"2021-10-29T02:50:12","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=35366"},"modified":"2021-10-29T15:50:12","modified_gmt":"2021-10-29T02:50:12","slug":"the-afr-2021-young-rich-list","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/the-afr-2021-young-rich-list\/","title":{"rendered":"The AFR 2021 Young Rich List"},"content":{"rendered":"

PHOTO: AFR 2021 Young Rich List\u00a0<\/strong><\/p>\n

Surging valuations for unlisted tech companies, the rise in cryptocurrency and a boom in wellness have driven the self-made wealth of Australia\u2019s 100 richest people aged 40 and under to record levels.<\/p>\n

The 2021\u00a0Financial Review Young Rich List<\/a>\u00a0boasts total wealth of $41.3 billion, $100 million higher than the previous record set in 2019, and includes six billionaires \u2013 three more than ever before.<\/p>\n

This year\u2019s record wealth creation comes without the firepower of the 11-figure fortunes built by the two founders of Australia\u2019s most successful software company, Atlassian.\u00a0Mike Cannon-Brookes\u00a0and\u00a0Scott Farquhar\u00a0are both now older than 40 and have hence aged off the list.<\/p>\n

They are replaced at the apex by\u00a0Cliff Obrecht and Melanie Perkins, the married founders of Australia\u2019s second most successful software company, the do-it-yourself graphic design platform Canva.<\/p>\n

Perkins\u2019 part in the couple\u2019s $16.5 billion fortune, achieved after Canva raised capital at\u00a0a $55 billion valuation\u00a0in September, makes 2021 a clean sweep for female business builders after iron ore magnate Gina Rinehart topped the Rich List in May. Perkins leads a record 15 women on the Young Rich List this year, up from 12 in 2020 and nine in 2019.<\/p>\n

Canva\u2019s coming of age as a household name also caps a Young Rich List dominated like never before by technology. The creation of software drove 47 of the fortunes, including seven new additions involved in cryptocurrency: Kain Warwick and his siblings Kieran, Aaron and Grant; brothers Daniel and William Roberts; and Sergei Sergienko.<\/p>\n

The next most common sources of wealth for those aged 40 and under are online retail (11 fortunes) and sport (10).<\/p>\n

It takes category-killing innovations to top the list, and coming third after the Canva founders is the creator of another. Nick Molnar reinvented lay-by, for a generation wary of credit card debt, with Afterpay. In August, seven years after launching the company with older neighbour Anthony Eisen, they\u00a0agreed to merge it\u00a0with Jack Dorsey\u2019s Square Inc in a $39 billion deal.<\/p>\n

The vicissitudes of Afterpay\u2019s listing on the Australian Securities Exchange meant Molnar\u2019s wealth only went up 25 per cent, to $2.8 billion, in 2021.<\/p>\n

Hear what it takes to earn your way onto\u00a0The Australian Financial Review Rich Lists<\/a>\u00a0in a new podcast interview series,\u00a0How I Made It,\u00a0<\/a><\/em>from\u00a0<\/a>The Australian Financial Review<\/em>.<\/a><\/strong><\/p>\n

READ MORE VIA AFR<\/a><\/p>\n

https:\/\/www.instagram.com\/p\/CVEH6-oBkgA\/?utm_source=ig_web_copy_link<\/p>\n

MOST POPULAR<\/span><\/h3>\n