Australia's top 100 richest young people almost doubled fortunes since last year

Source: Xinhua| 2019-10-25 14:08:24|Editor: Liu
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SYDNEY, Oct. 25 (Xinhua) -- The wealthiest 100 Australians under 40 have raked in an estimated 41.2 billion Australian dollars (28.7 billion U.S. dollars) in 2019, according to the Australian Financial Review's annual Young Rich List on Friday.

Compared to last year, the country's young entrepreneurs, executives, entertainers and sports stars have almost doubled their collective riches which came in at 23.5 billion Australian dollars (16 billion U.S. dollars) in 2018, despite a continued slowdown in the domestic construction sector and a pull-back in the wider global economy.

Topping the list was Atlassian software developers Mike Cannon-Brookes and Scott Farquhar, who placed No. 1 and No. 2 respectively with personal fortunes of 13.5 billion Australian dollars (9.2 billion U.S. dollars) and 13.2 billion Australian dollars (9 billion U.S. dollars) after reporting strong profit results on the U.S. stock exchange this financial year.

Entering the list in third were the co-founders of graphic design start-up Canva. Aged just 33 and 32, Melanie Perkins and Cliff Obrecht now have a combined fortune of 1.35 billion Australian dollars (920 million U.S. dollars).

Another business couple, Collis and Cyan Ta'eed made it to fourth spot, scooping up 799 million Australian dollars (544.6 million U.S dollars) with their online marketplace for digital assets, Envato.

While the co-founder of Compass Ori Allon landed in fifth position, taking his personal wealth to 747 million Australian dollars (509.2 million U.S. dollars) with the rapid success of his online real estate portal.

Among the most profitable sectors, software enterprises accounted for 11 out of the top 100, e-commerce businesses made up 25 places and sports stars secured a further 17 spots.

Although men dominated the list, nine women made the top 100 this year.

Among them was Aussie movie star Margot Robbie in 86th place, who has accumulated 35 million Australian dollars (23.9 million U.S. dollars) from a series of major Hollywood roles in the past 12 months.