The 2021 Financial Review Young Rich List reveals the diverse ways that next generation entrepreneurs are building their fortunes. This year, Canva co-founders Melanie Perkins and Cliff Obrecht have topped the List for the first time, with a wealth of $16.5 billion.
With more than 60 million people now using Canva’s beginner-friendly graphic design software, Perkins, 34, and her husband Cliff, 35, were last year worth $3.43 billion. But with their company now valued at $55 billion the couple’s wealth has skyrocketed.
The Financial Review Young Rich List has tracked the wealth of Australia’s wealthiest people aged 40 and under since 2003. To qualify, Young Rich Listers must not have inherited their wealth. The 100 wealthiest Australians aged 40 or under in 2021 have a collective worth of $41.3 billion, up $100 million from last year.
“This year’s list is the first since 2007 that doesn’t include the significant wealth held by Atlassian co-founders Mike Cannon-Brookes and Scott Farquhar who are both too old to qualify,” said Rich List co-editor Michael Bailey. “Given their absence, it was surprising the overall wealth came in at a record $41.3 billion. It shows the depth of Australia’s technology sector and the significant wealth being created by a growing number of young entrepreneurs,” he said.
In a year that has seen the continued acceleration of technology due to the COVID-19 pandemic, tech entrepreneurs make up almost half the Young Rich List, with the creation of software driving 47 of the fortunes – including seven involved in cryptocurrency – followed by online retail (11 fortunes) and sport (10).
There are 26 debutants on the list, led by Kain Warwick at #7 and worth $879 million, who is at the cutting edge of the cryptocurrency boom. His company, Synthetix, allows crypto investors to trade derivatives based on the price of real world assets like gold.
All up, the seven cryptocurrency Young Rich Listers – Kain Warwick and his siblings Kieran (#22), Aaron (#26) and Grant (#34); brothers Daniel (#19) and William Roberts (#20); and Sergei Sergienko (#60) – are estimated to be collectively worth more than $2.5 billion.
“There is a record number of women on this year’s Young Rich List, with many of them carving our fortunes from a boom in health and wellness spending and our growing desire to look and feel good,” said Rich List co-editor Julie-anne Sprague.
“We are seeing an increasing number of businesses being developed by women who are harnessing their strong social media following to create enviable launchpads for their business interests,” she said.
Kayla Itsines, founder of Sweat fitness app, began her business on Instagram in 2009. 13 million Instagram followers later, the 30-year-old is worth $164 million and comes in at #39. Natasha Oakley, who started blog A Bikini A Day which morphed into her own swimwear range and an Instagram following of 2.5 million followers, has also debuted onto the List at #71 and is worth an estimated $63 million. Tammy Hembrow, who has more than 13 million Instagram followers and is behind fitness app Tammy Fit is estimated to be worth $38 million (#96). Stephanie Miller, better known as Steph Claire Smith, is worth an estimated $36 million fortune (#100) thanks to the success of Keep It Cleaner, which she co-founded.
The Financial Review Young Rich List 2021 highlights
Top 10 (worth a collective $26.98 billion)
1&2 – Melanie Perkins and Cliff Obrecht,34 & 35, $16.5 billion (up from $3.43b) – Canva
3 – Nicholas Molnar, 31, $2.78 billion (up from $2.22b) – Afterpay
4 – Laurence Escalante, 40, $2.68 billion (up from $919 million) – Virtual Gaming Worlds
5 – Sam Prince, 38, $1.1 billion (up from $381 million) – Zambrero Mexican restaurant & healthcare
6 – Fung Lam, 40, $1.02 billion (up from $273 million) – Online retail
7 – Kain Warwick, 40, $879 million (debutant) – Synthetix & cryptocurrency
8 – Owen Kerr, 37, $728 million (up from $617 million) – Pepperstone Financial Services
9 – Cyan Ta’eed, 40, $664 million (up from $566 million) – Envato & technology
10 & 11 – Tah-nee & Simon Beard, 33 & 37, $626 million (debutant) – Culture Kings
Entertainment / Public Figures
1 – Miranda Kerr, 38, $124 million (up from $120m)– Manufacturing/Retail (#52 on YRL)
2 – Chris Hemsworth, 38, $105 million (up from $90m) – Arts (#56)
3 – Jennifer Hawkins, 37, $72 million (up from $60m) – Manufacturing/Retail (#68)
4 – Margot Robbie, 31, $62 million (up from $55m) – Arts (#72)
Sport
1 – Andrew Bogut, 36, $116 million (#54) – Retired basketballer
2 – Daniel Ricciardo, 32, $110 million (#55) – F1 driver
3 – Ben Simmons, 25, $105 million (#57) – Basketballer
4 – Jason Day, 34, $88 million (#62) – Golfer
5 – Steve Smith, 32, $53 million (#78) – Cricketer
Top Five Women
1 – Melanie Perkins (#1) – $16.5 billion
2 – Cyan Ta’eed (#9) – $664 million
3 – Tah-nee Beard (#10) – $626 million (with husband Simon Beard)
4 – Jessica Sepel (#24) – $426 million (with husband Dean Steingold)
5 – Emma Gibson (#36) – $190 million (with partner Robert Bates)