Atlassian founders Mike Cannon-Brookes and Scott Farquhar doubled their wealth in 12 months, to over $5 billion each
Friday, May 25, 2018/
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.
From the frontlines
Why you should find the right role for the right person — not the other way around Bruce Stronge Outfit founder
Five lessons from five startups: What this entrepreneur learnt from 20 years in business David Lye Price My Car founder
From stagnant to sophisticated: Why startups are best positioned to champion the AI revolution Geraldine McBride MyWave co-founder
Learning from adversity: How Katt Srinivasan went from rock bottom to e-commerce entrepreneur Katt Srinivasan The Bargain Avenue founder
Bitcoin isn't a boy's club, women just aren't getting involved Chantelle de la Rey Amber co-founder
Managing a remote workforce is simple, writes Hometime co-founder William Crock William Crock Hometime co-founder