Revealed: Australia’s richest women aged under 40
THEY are at the top of their fields in fashion, retail, fitness, health, graphic design and modelling — meet the women aged under 40 dominating Australia’s rich lists.
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A SOFTWARE designer, a fitness guru, a fashion retail whiz and a activewear retailer — they are just some of the professions that have created Australia’s richest young women.
While it’s easy to imagine the ladies with the biggest dollars are those on the world’s catwalks and Hollywood movie sets, it’s the names you may never have heard of that make up the list of young rich Australian women under 40.
Sitting on top is 37-year-old Cyan Ta’eed, the founder of ethical chocolate company Hey Tiger and co-founder of online design and creative marketplace Envato. With co-founder and husband Collis, they have a combined net worth of $216 million.
Closely behind is Melanie Perkins, who dreamt up the idea for graphic design tool Canva in 2007. The 31-year-old is now worth a combined $128 million.
And 32-year-old Jane Lu, who dropped out of a corporate finance job to start retailer Showpo in 2010, now heads a global fashion empire shipping to more than 80 countries and with a 3.5 million-strong cult following on social media. She’s worth an estimated $32 million.
Among these ladies you will also find some familiar names.
There’s the Gunnedah-raised Miranda Kerr who won the 1997 Dolly magazine modelling competition at 13 and went on to model for Tigerlily, Roxy and Billabong before becoming Australia’s first Victoria’s Secret angel in 2007. Now based in the US with her CEO husband Evan Spiegel the savvy businesswoman, who’s empire includes Snapchat and skincare line KORA Organics, is worth $44 million.
If you’ve ever shown even just a passing interest in fitness, you will have heard of Kayla Itsines, who used social media to build her brand into a highly successful fitness business which boasts more than 10 million Instagram followers. She developed the fitness app SWEAT with partner Tobi Pearce, along with the popular Bikini Body Guide and between them are worth a cool $63 million.
Perkins realised early on the future of the graphic design industry in which she worked was going to be online and she set out to make it collaborative and accessible to all.
“The problem was that creating engaging, professional looking designs was incredibly difficult unless you had expensive software and spent years studying,” Perkins tells BW Magazine.
“That’s how the vision for Canva came about — to empower the world to design anything and publish anywhere — and it hasn’t changed since we launched on day one.”
Canva, the company she co-founded with Cliff Obrecht in 2012, has grown to help more than 10 million customers and is now worth more than $US1 billion ($1.4 billion).
She is joined by women who have been very successful in their diverse fields, including fashion, retail, fitness, health, graphic design and modelling.
Ta’eed’s career path took a different tack to Perkins’. After graduating with a graphic design degree and securing a great job at a boutique agency, Ta’eed wanted more.
“Despite everything being ‘right’ with the job — great owners, great work, lovely colleagues — I couldn’t stop taking on freelance projects,” she tells BW Magazine.
“I loved creating something from scratch and having control over it. I quit that job three months in and started working for myself when I was just 23 … Many start-ups later, here I am!”
Since launching Envato in her parent’s garage in 2006, the Melbourne-based company has grown into an online community of more than eight million members.
Ta’eed says some of the most important things she has learnt are setting ambitious goals, not giving up, developing entrepreneurship skills over time, and being able to critically analyse your own strengths and weaknesses.
“I’ve been lucky enough to have met many of Australia’s top entrepreneurs and the common theme is feeling constantly challenged and stretched by the work they’re doing,” she says.
“Most aren’t certain they can do it and are just figuring it out as they go along.”
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Ta’eed has spoken to hundreds of young women about their careers, and says many are better and more capable than they think.
“Usually they’re waiting ‘until’ — until they feel more confident, until they get that promotion, or until they get more training,” she says. “I’ve never felt ready to do most of the things I’ve done in my career and I’ve done them anyway, and usually they’ve worked out. When they don’t, you lick your wounds and you learn, and you get better for next time.
“My advice would be to be unashamedly ambitious with what you want for your life, and start that journey right now.”
Fashion retail whiz Jane Lu, 32, has something in common with Ta’eed — she also founded her company Showpo from her parent’s garage. She says the turning point in her career was when her first business failed.
“I had just quit my job in corporate finance to work on the business and, all of a sudden, I found myself unemployed, in debt with a failed business and in the middle of the global financial crisis,” she says.
“Because of the GFC, there was no way of getting back into the workforce, so I had to start a business. That’s how Showpo was born.”
Since 2010 the Sydney-based company has grown from one laptop and a few shelves of clothing into an online global fashion empire which successfully uses social-media marketing to position the brand with its fans.
“It’s bizarre to consider myself as a role model, but my story definitely has resonated with a lot of people who want to escape the rat race or don’t want to do what their parents expect them to,” Lu says.
“Showing it is possible to succeed without funding or experience, and that it’s possible to go and build your dream career and essentially make this your reality would definitely be inspiring for others to do the same.”
Her advice to anyone looking to start a business is to be ready to take a short-term hit to invest in the future; don’t be afraid to try something new; take the time to invest in good people; and to get cracking straight away.
“Just start. Whatever you want to do, don’t wait, the stars will rarely align the way you want them to, and delaying only prolongs the possibilities,” Lu says.
The best advice Perkins can give to anyone with an idea is to make sure you believe in it, and are solving a problem people care about.
“If you are going to do something, do it with passion and purpose,” Perkins says.
“It’s hard to know what the future holds, but the best way to prepare is to do everything you do as well as you possibly can. Enjoy the journey, the challenges. The experiences you will value most in life are often the most challenging.
“They’re also the ones that will push you out of your comfort zone and help you grow.”
THE RICH LIST
Cyan Ta’eed, 37
Combined wealth of $216m
Founder of online creative community Envato
Melanie Perkins, 31
Combined wealth of $128m
Co-founder of software design company Canva
Kayla Itsines, 27
Combined wealth of $63m
Co-developed fitness app SWEAT
Miranda Kerr, 35
$44m
Model
Erin Deering, 33
$32m
Co-founder of swimwear label Triangl
Jane Lu, 32
$32m
Founded online retailer Showpo
Emily Skye, 33
$32m
Fitness expert
Julie Stevanjer, 38
$30m
Founded activewear retailer Stylerunner