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Atlassian co-founder Scott Farquhar is officially the richest person in Australia aged 40 and under, topping the AFR list of rich young people with a personal fortune of $ 17.7 billion.

Farquhar founded tech giant Atlassian with his partner Mike Cannon-Brookes (who, ironically, would have taken the top spot if he hadn’t turned 41 in November), and has dominated the AFR list for years.

His personal wealth is so comparatively great that it accounts for almost half of the total wealth of the top 100 named on the list.

Co-founder of Sydney Atlassian Tech Scott Farquhar. Farquhar fell slightly behind his business partner, Cannon-Brookes. (Supplied)
The Fairfax family's Point Piper property, Elaine, was bought by Atlassian co-founder Scott Farquhar for more than $ 70 million.
Farquhar bought Elaine, owned by the Fairfax family in Point Piper, for more than $ 70 million. (Supplied)

In second and third place are Canva founders Melanie Perkins (34) and Cliff Obrecht (32), who have a personal fortune of $ 3.4 billion.

After experiencing a stratospheric boom in business, Afterpay founder Nick Molnar (30 years old) moved into fourth place with $ 2.2 billion. He is now officially the youngest billionaire in the country.

Rounding out the top five was another Canva business partner, Cameron Adams (40) with $ 1.12 billion.

Melanie Perkins, CEO and Co-Founder of Canva, on December 12, 2018. (Jessica Hromas)

Tech was by far the most dominant industry for creating wealthy young Australians, with 56 of the top 100 people involved in tech, and 81 percent of the wealth on the list is tied to industry.

The AFR Rich Youth List has two basic rules: a person must be 40 or younger and must be a self-made person; those who have inherited their wealth do not count.

Other notable inclusions were Miranda Kerr (age 37) at number 41 with $ 120 million, Chris Hemsworth (age 37) at number 47 with $ 90 million, and Margot Robbie (age 30) at number 64 with $ 55. millions.

Afterpay boss Nick Molnar buys a $ 10 million cliff top penthouse
Afterpay boss Nick Molnar. (Supplied)

Australian golfer Adam Scott (40) led the nation’s richest athletes with $ 223 million, followed by basketball player Andrew Bogut (35) with $ 102 million and Daniel Ricciardo (31) with 85 millions of dollars.

Rich List co-editor Julie-anne Sprague said the list shows that massive wealth can be built from good ideas and a strong work ethic.

“There is a constant theme among those debuting on our Rich Young People List and that is to stand behind 100 percent,” Ms. Sprague said.

“Many of them started with nothing more than an idea and a garage to work in, but they have gone on to make incredible fortunes.”

Ruslan Kogan (AAP)
Ruslan Kogan was named the 10th richest Australian under 40. (AAP)

Highlights of 2020 from Financial Review’s Rich Young People List

TOP 10 (with a collective value of $ 24.54 billion)

1: Scott Farquhar.40, $ 17.77 billion (vs. $ 13.22 billion) – Atlassian

2: Melanie Perkins, 34 years old, $ 3.43 billion (vs $ 1.35 billion) – Canva

3: Obrecht cliff, 32 years old, $ 3.43 billion (vs $ 1.35 billion) – Canva

4: Nicol├ís Molnar.30, $ 2.22 billion (compared to $ 564 million) – Subsequent payment

5: Cameron Adams, 40 years old, $ 1.12 billion (vs $ 452 million) – Canva

6: Laurence Escalante, 39 years old, $ 919 million (vs $ 57 million) – Virtual Gaming Worlds

7: Peter Greensill, 39 years old, $ 788 million (vs. 745 million) – Agribusiness, Fin Services

8: Ori Allon.40, $ 695 million (down from $ 747 million) – Compass

9: Mitchell Harper, 38 years old, $ 694 million (vs $ 86 million) – Technology

10: Ruslan Kogan, 37 years old, $ 685 million (vs $ 332 million) – Kogan


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