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Young Rich List Wealth almost doubles to $41.2b

Success means Soar Aviation founder Neel Khokhani doesn t get much time in the pilot s seat these days Luckily for this 2019 Young Rich Lister, flying a plane.

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Young Rich List Wealth almost doubles to $41.2b

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  1. Young Rich List Wealth almost doubles to $41.2b Financial Review Young Rich List

  2. Oh, to be young and loaded. The Financial Review Young Rich List has been tracking Australians in this enviable position now for 16 years, and we can inform you that our young entrepreneurs, executives, entertainers and sportspeople are worth more than ever. The 100 wealthiest Australians aged 40 and under in 2019 have a collective $41.2 billion, on paper at least. That’s nearly double 2018’s $23.5 billion total, reflecting markets that have remained resilient in the face of trade wars and construction crises. At least until the first week of September 2019, when this list was ruled off.

  3. The Nasdaq-listed shares of Atlassian, which makes collaboration software for teams, surged as its annual revenue surpassed $1 billion for the first time. Even as their company reported a net loss of $946 million in an acquisition-fuelled growth campaign, the wealth of both Cannon-Brookes and Farquhar nearly doubled to $13.5 billion and $13.2 billion respectively. Atlassian is now worth more than both Telstra and Wesfarmers. Not bad, given it was founded in 2002. Even removing those freakish Atlassians, the wealth of the rest of the Young Rich List grew solidly, from $11.3 billion to $14.5 billion. Leading the ex-Atlassian charge, in terms of size of a founder’s business, is Ori Allon.

  4. His seven-year-old real estate portal, Compass, took on a ninth round of funding, valuing it at more than $9 billion – and increasing Allon’s personal wealth from $539 million to $747 million. ASX-listed REA Group isn’t too far ahead, at about $14 billion. And while Compass reveals few financials, plenty of investors are backing Allon and his long-term aim to grab 20 per cent of all real estate sales in America’s 20 biggest cities. The $3.6 billion valuation of Canva, the graphic design software-as-a-service provider offering a simplified alternative to Photoshop, came after a sixth round of venture capital financing in May. Canva has 15 million users and turned a modest maiden profit in the first half of 2017-18.

  5. The company’s three founders – chief executive Melanie Perkins, her fiance Cliff Obrecht and chief technology officer Cameron Adams – rank higher on the list this year after our researchers found that the trio (plus their 800 staff, all of whom have equity) still own more than half of the company. Canva might only be five years old, but it’s now worth seven times as much as Here There & Everywhere, the 30-year-old, ASX-listed media and entertainment business. Greensill Capital is another rapid growth story. It was only 2011 when the Greensill farming family from Bundaberg got into the supply-chain financing game.

  6. Reference Link – Neel Khokhani Young Rich List 2019: Neel Khokhani flies high with Soar Aviation Success means Soar Aviation founder Neel Khokhani doesn t get much time in the pilot s seat these days Luckily for this 2019 Young Rich Lister, flying a plane Self-made entrepreneur, 30 who’s made $66million soars into Australia’s Young Rich list 

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