Startup News & Analysis

Atlassian founders Mike Cannon-Brookes and Scott Farquhar doubled their wealth in 12 months, to over $5 billion each

Stephanie Palmer-Derrien /

Atlassian founders

Atlassian co-founders Mike Cannon-Brookes and Scott Farquhar.

The founders of Australian startup success story Atlassian have each doubled their wealth since last year, according to the 2018 AFR Rich List, and the pair are now knocking on the door of the top 10 richest Australians.

In last year’s list, Mike Cannon-Brookes and Scott Farquhar were ranked at 17th and 18th position, respectively. This year, they have crept up to 11th and 12th.

The estimated wealth of both founders has increased 105.6%, from $2.51 billion in 2017 to $5.16 billion this year.

The AFR noted that the value of Atlassian shares have increased sharply over the past year, contributing to Cannon-Brookes and Farquhar’s personal wealth. Both founders also have several investments outside of their own business; Cannon-Brookes is a recent investor in energy-financing startup Brighte, while Farquhar was one of the early backers of workplace safety startup SafetyCulture

The pair are also the only two technology representatives in the top 20. The next highest-ranking technology entrepreneur is Richard White, founder of WiseTech, who entered the billionaire’s club for the first time, ranking 44th with estimated wealth of $1.66 billion.

NOW READ: Atlassian’s Scott Farquhar on why startups need “creative conflict”

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Stephanie Palmer-Derrien

Stephanie Palmer-Derrien is a reporter at StartupSmart.

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