Young Rich List 2021: Canva and Afterpay founders the wealthiest
A young Aussie has amassed a stunning fortune thanks to a simple yet brilliant idea, topping the Young Rich List 2021
The richest Aussies aged 40 or under have been revealed with Canva co-founders Melanie Perkins and Clive Obrecht topping 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, Mr Perkins, 34, and her husband, 35, were last year worth $3.43 billion, but their wealth has exploded by 80 per cent, with company now valued at $55 billion.
The pandemic hasn’t dented fortunes either with the top 100 in the Australian Financial Review 2021 Young Rich List are worth a collective $41.3 billion, up $100 million from last year.
This year’s list features everything from a Mexican restaurant chain to virtual gaming, online retail tech, the cryptocurrency boom, and health and wellness social media influencers and to qualify people must not have inherited their wealth.
Third on the list is Afterpay founder Nicholas Molnar, Australia’s youngest billionaire at age 31.
He is worth a staggering $2.78 billion, followed by Virtual Gaming Worlds 40-year-old owner Laurence Escalante, who’s wealth has skyrocketed to $2.68 billion up from $919 million last year.
Zambrero Mexican restaurant & healthcare entrepreneur, Sam Prince, 38, takes out the fifth spot with a fortune of $1.1 billion up from $381 million.
In 2005, the medical student set up a Mexican restaurant to sell healthier burritos. His Zambrero restaurant chain has since grown into 220 stores globally, while Mr Prince uses his fortune to fund a medical charity aimed at Indigenous communities in the NT.
Crypto entrepreneurs
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.
“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,” noted 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.”
There are 26 new people who have been added to this year’s list, led by Kain Warwick at number 7, who has amassed $879 million, and 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.
Seven cryptocurrency entrepreneurs on the list are estimated to be collectively worth more than $2.5 billion.
Wealthy influencers
Meanwhile the health and wellness spending boom has underwritten the success of well-known social media influencers. Blogger Jessica Sepel’s vitamin range, JSHealth Vitamins, developed with husband Dean Steingold, has seen them debut on the Young Rich List at spots 24 and 25, with a wealth of $426 million.
Kayla Itsines, founder of Sweat fitness app, is no stranger to the rich list after beginning her business on Instagram in 2009.
Now with 13 million Instagram followers, the 30-year-old is worth $164 million and comes in at 39 on the list, down from the $486 million fortune she shared with her ex-fiancee back in 2019.
Influencer 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 number 71, with an estimated worth of $63 million.
Tammy Hembrow, who has more than 13 million Instagram followers and is behind fitness app Tammy Fit has a built a $38 million fortune to sneak on the list at number 96.
Then there’s Stephanie Miller, better known as Steph Claire Smith, who is worth an estimated $36 million fortune thanks to the success of Keep It Cleaner, which she co-founded.
“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 launch pads for their business interests.”
The average age of the Young Rich List is 35. The youngest members of the list, both aged 25, are sports stars with basketballer Ben Simmons worth $105 million and tennis player Ash Barty, worth $37 million up from $28 million last year.
Australia’s wealthiest sport star is basketballer Andrew Bogut, who despite retiring is worth $116 million, closely followed by race car driver Daniel Ricciardo worth $110 million.
The top 10 Young Rich List (worth a collective $26.98 billion)
1 and 2. Melanie Perkins and Cliff Obrecht, 34 and 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
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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 and 11. Tah-nee & Simon Beard, 33 & 37, $626 million (debutant) – Culture Kings
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