Five richest Australians revealed

Software developers Mike Cannon-Brookes and Scott Farquhar, the co-founders of Atlassian, fulfil that need with products that help remote teams collaborate, such as Jira and Trello.

That has resulted in such a strong performance for Atlassian’s NASDAQ-listed shares, that the Sydney duo have debuted in the Rich List top three with fortunes over $18 billion apiece.

A resurgent China has also helped Hui Wing Mau, a Hong Kong-based property developer who took out Australian citizenship while studying here in the early 1990s, become one of the few bricks-and-mortar billionaires to have increased wealth in the pandemic. The rising share price of his Shimao Property Group has him retain fourth place on the Rich List with $17.8 billion.

It’s the first time since 2015 that Ms Rinehart has topped the Rich List, which AFR Weekend will publish on Saturday in a truncated “Top 20” format.

The full list of the 200 wealthiest Australians has for the first time in its 38-year history been postponed, until the fourth quarter of 2020, because of tumultuous markets in response to the pandemic.

The June issue of AFR Magazine, in which the Rich List has appeared since 2014, meant valuations would have had to be signed off in the extremely volatile last week of March.

Afterpay shares, for instance, were at the time languishing below $9 and its two founders were off the list. The stock has since quintupled, making billionaires of both Nick Molnar and Anthony Eisen.

The nimbler production schedule of the Financial Review meant the valuations for this Top 20 were based on a three-month average up to May 21’s market close, and sent to the Rich Listers for feedback.

READ  6 of the most amazing things that were 3D-printed in 2018

The Top 20 of the Financial Review Rich List will be published in AFR Weekend. The full list of the 200 wealthiest Australians will appear in AFR Magazine in the fourth quarter of 2020.



Please enter your comment!
Please enter your name here