Mike Cannon-Brookes and Other Tech Entrepreneurs Made Their Presence Felt in 2019 Rich List
“Whenever the rich lists come out it’s the worst time of the year,” this is what Atlassian co-founder Mike Cannon-Brookes said in his interview in a magazine last year.
“There’s no upside, only downside. Unless you want to kind of show off in a weird way. But then buy a freakin’ billboard, right?” he added.
With the latest edition of Australian Financial Review 2019, there are names who have been here for years and there are also fresh names on the list. In this list, tech entrepreneurs made their presence felt. As a matter of fact, 14 tech entrepreneurs made it to the Rich List this year.
It was not an easy way up for companies like Atlassian, Afterpay, and Wisetech who has spiraling stock prices. But, to make it to the Rich List, it is a big leap for Cannon-Brookes and his Atlassian partner Scott Farquhar. It seems that these two had their wealth doubled from last year. Farquhar is on the fifth spot with $9.75 billion followed by Cannon-Brookes on the sixth place with $9.63 billion.
Majority of their wealth acquired from a stake in Atlassian of combined 56 percent. The rich list was measured from the 3-month average of the Atlassian share price which was taken on the first week of April. But, the stock of the company went up by over 48% this year and it is estimated that the worth of the founder’s stake is at around $12billion each. Take note, that is from the company alone. Well, if this is true it could be possible that they are on number two and three spots. If this happened, they will top Anthony Pratt who has a total net worth of $15.6 billion. If the price share of Atlassian continues to go up, it would be possible that these two will reach and grab the number one and two spots.
It’s not only Cannon-Brookes and Scott Farquhar doubled their wealth and made it to the list. There are also other tech entrepreneurs like Wisetech founder Richard White. Privately owned Canva made it also to the Rich List this year. With fresh funding from investors, the company’s net doubled from $1.3 billion to $3.6 billion. Founders Melanie Perkins, Cliff Obrecht, and Cameron Adams could make it to the list.
But for these tech entrepreneurs, wealth isn’t their main goal. When Mr. Cannon-Brookes was asked about this, he refused to comment and explained that the fortune he currently isn’t something he and his partner focus on.
“People never talk about jobs created, or products created, or the impact those products have had on the rest of the world or any of that sort of thing,” he said.
Even the founders of Canva has the same thoughts as Mr. Cannon-Brookes
“Cliff and I still travel backpacking. The last couple of years we went horse trekking in Mongolia, staying in yurts in a treehouse in Laos,” she said in a recent interview with this newspaper. “It has been really important to get out and see the world. We still love staying in pretty basic accommodation”.