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He’s worth $18.4 billion - but he won’t qualify for this rich list anymore

Anastasia Santoreneos
·2-min read
SYDNEY, AUSTRALIA - JUNE 25: Atlassian co-founder Mike Cannon-Brookes is pictured during the announcement of a new Tech Hub near Central Station on June 25, 2020 in Sydney, Australia. The NSW government has announced plans to make Sydney an Australian technology hub with the creation of a new precinct to be known as Tech Central. Australian technology company Atlassian will build its new headquarters as part of the precinct by Central Station. (Photo by Brook Mitchell/Getty Images)
He’s worth $18.4 billion - but he won’t qualify for this rich list anymore. Source: Getty

For just one day every year, Australia’s youngest and richest all appear in the same place: the AFR’s Young Rich List.

There are the usual suspects: Sweat founder Kayla Itsines ($209 million), Canva co-founders Melanie Perkins and Cliff Obrecht ($3.43 billion), and of course tech billionaires and co-founders of Atlassian, Mike Cannon-Brookes and Scott Farquhar ($17.77 billion).

But this year, there was one major change: Cannon-Brookes is no longer on the list.

Now, I know what you’re thinking: ‘Did he lose all his money?’ ‘Is he no longer a billionaire?!’

No, he did not lose all his money. And yes, he is still very much a billionaire - with a net worth of $18.4 billion, as a matter of fact.

The reason Cannon-Brookes didn’t make the cut this year is actually much more straightforward - he simply grew up.

The co-founder turned 41 on 17 November, just 10 days before the cut-off date of the AFR’s list. That makes him no longer eligible to be a young rich-lister. According to the publication, Cannon-Brookes’ omission brought the overall wealth of the list down to $39.6 billion from $41.2 billion in 2019.

His co-founder Farquhar won’t turn 41 until December, but this will be his last year on the rich list too.

Who else made it to the list?

Airwallex co-founder Jack Zhang made an appearance on the list, with a net worth of $410 million, while co-founders Fred Schebesta, Frank Restuccia and Jeremy Cabral also hit the list for the first time with net worths of $214 million, $58 million and million $30 million respectively.

Buy now pay later moguls Nicholas Molnar and Larry Diamond from Afterpay and Zip unsurprisingly made the list with a net worth of $2.22 billion and $441 million respectively.

Go-to Skin Care founder Zoe Foster Blake also hit the list, with a net worth of $36 million, as did tennis champion Ash Barty ($28 million).

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