Why Atlassian bosses Scott Farquhar and Mike Cannon-Brookes bought neighbouring pricey mansions
IT’S a billionaire buddy story. One of the founders of Atlassian Mike Cannon-Brookes says that now he and his partner have bought the country’s two most expensive homes right next door to each other their families can spend even more time together.
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EXCLUSIVE: It’s a billionaire buddy story. One of the founders of Australia’s most successful start-up says that now he and his partner have bought the country’s two most expensive homes right next door to each other their families can spend even more time together.
After nearly two decades working side-by-side to create the software behemoth Atlassian, former uni mates and business partners Scott Farquhar and Mike Cannon-Brookes are forging even closer ties, The Daily Telegraph can reveal.
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“We both try and make an effort to see each other outside of work,” Mr Farquhar told the Telegraph in an interview at Atlassian’s Sydney headquarters.
“Pre-family and kids, you spend a lot more time with your mates, and then you have a family and kids and you spend a lot more time on the soccer pitch and with your family.”
Mr Farquhar has two children, while Mr Cannon-Brookes has four. They are both 38, and each has a net worth estimated by Forbes magazine at around $9 billion.
“I think both of us at the moment are in that prioritising family state, so our kids get along with each other so it’ll be great to have them (Mike’s kids) next door,” Mr Farquhar said.
Mr Cannon Brookes reportedly forked out $100 million last month for the historic Double Bay mansion Fairwater — the highest price paid for a home in Australia.
The estate is next door to the equally significant home Elaine, which Farquhar paid $71 million for last year, setting the price record for a Sydney home that stood until his new neighbour’s cash splash.
He said despite being neighbours, carpooling to Atlassian’s office on George Street is not on the cards.
“I’m sure we’ll come in the way we always come in — I catch the bus and the train into work,” Mr Farquhar said.
When he gets a spare second the tech guru balances family time with philanthropic causes and fitness.
“For me there is work, and there’s giving back to the community in both ways,” he said.
“Exercise is probably the other one after family … I get up early and exercise then.”
The two co-founders have recently hosted their third biannual conference for Australian start-ups, getting them together under one roof to share their knowledge and help the tech community grow.
“So there’s investing in start-ups, Mike and I both do that, we are both pretty proud of that … there is also the philanthropy aspect so we spend time on that.”
“Mike’s travelled to Africa, and I have travelled to Asia to see and work with some of our philanthropic programs in those countries.”
One program the Atlassian Foundation supports is Room to Read, a not-for-profit which seeks to transform the lives of millions of children in low-income countries by focusing on literacy and gender equality in education.
Mr Farquhar said he got to experience the work of the foundation first hand while on a trip to Vietnam several years ago.
“My wife and I were doing a trip around Asia around the time we got married, and we visited a school in Vietnam … us and whole bunch of people got on a five-hour each-way bus out of Ho Chi Minh, not five hours on a highway but bumpy roads,” he said.
“Eventually we got to this town in the middle of nowhere where Room to Read have constructed this school.”
He said upon arrival the school hosted a presentation for the visitors, with young students tearfully thanking them for the financial assistance.
“It was an amazing experience to see directly …$25,000 builds you a school that affects hundreds of students, and that school wouldn’t exist without the money you donated,” Mr Farquhar said.
He is currently training to run in ‘The Fastest Executive Race’ — a 10 kilometre running event between top Australian executives from companies like Baker & McKenzie, TPG and University of Sydney, who will all run on October 19 to raise money for charity.