With a cut off age of 40, 37-year-olds Mike Cannon-Brookes and Scott Farquhar don't have too many years to reign supreme as the clear leaders of the richest young Australians.
For the sixth time in a row since 2007, the Atlassian co-founders have been named at the top of the Financial Review Australia's Young Rich List.
The pair’s combined wealth continues to climb hitting $6.07 billion in 2017, up from $4.6 billion on last year.
Cannon-Brookes and Farquhar have come a long way since their debut on the list in 2007, when they had a combined wealth of $26 million.
The Financial Review 2017 Young Rich List has showed Australia’s young and rich are getting richer – with the total wealth of all 100 on the list adding up to 13.2 billion.
Atlassian makes up a large chunk of the total, with Cannon-Brookes and Farquhar’s wealth equalling more than ten times the wealth of the next two place getters.
Atlassian opened for trading on The Nasdaq Stock Market on December 10, 2015. Source: Getty Images
Atlassian’s American based shares recently hit a record thanks to their software being used to help productivity.
The company is behind Jira, HipChat, Confluence and Trello – all software that is widely used in offices globally.
To be eligible for the list you need to be under the age of 40 and have a minimum wealth of $25 million.
This year the group is mostly made up of Technology, Financial Services and Property sectors.
This year there are 27 debutants on the list including Airtasker co-founders Tim Fung and Jonathan Lui, both 35.
The pair have a combined wealth of $41 million at numbers 66 and 67 on the list.
The online marketplace allows users to outsource everyday tasks.
You can get sushi delivered at midnight, get your dog walked and even get someone to pick up your dog’s poo in your backyard. Source: Airtasker
“We get a lot of handyman tasks, perhaps their tasks that don't fit in with a specific trade vertical but it might be something like installing a wall mounted TV, to building some IKEA furniture or moving a couch,” Mr Fung told SBS News.
The five-year-old business gets a service free from every job it matches and has the financial backing of several large investors.
Mr Fung said the AirTasker community has doubled in the past year with about 1.8 million users across Australia.
The app has created about $90 million in jobs for Australian workers and has amassed about 850,000 community reviews.
“I would say that we’re absolutely still on a journey, and I don’t have fourty-one million dollars in my bank account,” Mr Fung said.
Rich List editor John Stensholt said the listed wealth was based on the value of their company or businesses.
“It’s all round getting a value of that company, be it from investments from outside like venture capitalists or when they sell their business,” he said.
Nik Mirkovic, left, and Alex Tomic Source: SBS
Mr Stensholt said the technology sector dominated the list this year, with 38 entrants from the field.
The youngest debutants this year are Gold Coast duo Nik Mirkovic, 22, and Alex Tomic, 24, from teeth-whitening company HiSmile, with a combined wealth of $46 million.
The company only use social media and influencers to market their business.
Others on the higher end of the list include Melbourne property developer Tim Gurner and web marketing services duo Dave Greiner and Ben Richardson.
Despite the clear celebration of young success stories, the rich list does highlight a gender shortfall with only nine women appearing out of 100.
Mr Stensholt said he found that disappointing.
Women on the list include Fitness blogger Emily Skye and ShowPo fashion retailer Jane Lu.
“It shows you that the technology industry is really dominated by men,” he said.
