An overview of the 2016 BRW Young Rich list will be published online at afr.com at 3.00pm today, Thursday, October 27, and then in full at 6.00am on Friday.
A special lift-out edition of the BRW Young Rich list – including a short story on each of the top 100 featured this year – will be available inside the November issue of The Australian Financial Review Magazine available in The Australian Financial Review tomorrow Friday, October 28.
In addition to the printed product, afr.com will present in-depth analysis of the trends behind the list and profiles of some of the newcomers, including videos and interactive graphics.
● Atlassian co-founders Mike Cannon-Brookes and Scott Farquhar (#1&2) top the 2016 BRW Young Rich list with record $4.68 billion combined wealth
● #4&5 are Dave Greiner and Ben Richardson ($543 million) from web business Campaign Monitor
● #5 on the list is Perth property developer Paul Blackburne, with wealth of $483 million
● Total wealth of the 2016 BRW Young Rich list reaches a record $12.3 billion for the 100 list members, up from $10.6 billion in 2015
● The average wealth per person on the 2016 BRW Young Rich list rises to $123 million, up from $106 million last year
● There are 22 debutants on the 2016 BRW Young Rich list, including Envato co-founders Collis & Cyan Ta’eed (#12, 13) with combined wealth of $184 million
● The youngest debutants are fitness company owners Kayla Itsines and Tobi Pearce, (#51,52 with $46 million wealth), who are 25 and 24 respectively
● There are 8 women on the 2016 BRW Young Rich list, the same number as last year
● The BRW Young Rich list tracks the wealth of the richest Australians aged 40 and Young Rich under, who self-made and have not inherited their wealth
The 100 members of the 2016 BRW Young Rich list have enjoyed a stunning rise in wealth this year, with a booming property sector and technology market boosting overall wealth to a record $12.3 billion.
Atlassian co-founders Mike Cannon-Brookes and Scott Farquhar top the BRW Young Rich list again this year with combined wealth of $4.6 billion after the float of their software company Atlassian on the NASDAQ exchange in the United States late last year.
Cannon-Brookes and Farquhar have topped the BRW Young Rich list a record five times, jointly taking out the number 1 spot in 2012, 2013, 2014, 2015 and again this year.
The technology duo first rose to the number 1 ranking in 2012, when they knocked Nathan Tinkler from the top spot.
Number 3 and 4 on the 2016 BRW Rich list are another technology duo in Dave Greiner and Ben Richardson, founders of Sydney company Campaign Monitor. Although they have stepped away from day-to-day management of the firm they remain directors and shareholders.
Number 5 on the list is Perth property developer Paul Blackburne. His Blackburne Property Group dominates the Perth apartment market and develops three to four large apartment projects per year.
Sixth on the BRW Young Rich list is technology investor Simon Clausen, who is involved in thriving tech businesses such as Chinese real estate portal Juwai.com and Freelancer.
Number 7 on the list is Melbourne property developer Tim Gurner, who builds apartment projects in hip inner-city suburbs such as Collingwood and North Fitzroy.
Eight is Swisse Wellness CEO Radek Sali, who heads a thriving business that has found huge success exporting vitamins to China, and is also starting to invest in start-ups himself.
Number 9 is New York-based technology and property identity Ori Allon. His real estate tech firm Compass has made a big splash disrupting the US property scene.
Rounding out the top 10 of the 2016 BRW Young Rich list is Sydney retailer and biotechnology company founder Sam Prince. He owns the Mexican fast food chain Zambrero and emerging biotech firm Life Letters, a genetics testing company.
Technology is the dominant sector for 2016 with 27 people on the list, followed by financial services and retail each with 11 young rich on the list.
The BRW Young Rich list, recording the wealth of our richest Australians aged 40 and under, has been published annually since 2003.
The BRW Young Rich is a list of Australia’s wealthiest self-made citizens aged 40 and under. Those who have inherited their wealth do not qualify for the list. The valuations, which are undertaken by BRW researchers, are minimum estimates determined with publicly available information, up to October 6, 2016. Private company valuations are typically done using profit margins and price-earnings ratios of comparable listed companies, or based on private equity investments made in return for equity stakes. Where there is a joint entry, the valuation is the combined total of both list members. Where there is an entry of one half of a business partnership – where the other is not an Australian citizen or is over 40 – the valuation is for the share of the wealth held by the list member only.
Business Review Weekly
