The list of the top 200 wealthiest people in Australia released today has local technology industry well-represented with 14 appearances.
The AFR’s annual Rich List declared a “wealth boom” for the nation’s top end, with the top 200 worth a combined $233 billion and the $342 million cut-off a new high.
Cardboard tycoon Anthony Pratt topped the overall charts at $12.6 billion, having previously been no 1. in 2009.
While no one from the tech industry made it into the top 10, these are the 14 entrants into the 2017 AFR Rich List:
17. Mike Cannon-Brookes, Atlassian – $2.51 billion
18. Scott Farquhar, Atlassian – $2.51 billion
The Atlassian duo are riding high after upping their wealth by a half-billion since last year’s list. As well as their software company listing on the NASDAQ in late 2015, each are actively involved in investing in emerging startups through vehicles such as Blackbird Ventures and Grok Ventures.
26. David & Vicky Teoh, TPG – $1.91 billion
The husband and wife team has seen their wealth shrink, largely because of the share price of their telecommunications company has halved in the past year. While TPG is still profitable, critics have come out after its massive $1.9 billion investment this year to become Australia’s fourth mobile network.
68. Richard White, WiseTech – $882 million
WiseTech floated on the ASX with a market capitalisation of $1 billion last year, with its founder holding close to 50% of the shares. White started the company at his home in the 1990s to develop software to manage freight and shipping.
71. Chris Morris, Computershare – $847 million
Morris founded the share registry tech company Computershare in 1978 in Melbourne – a history that the firm now refers to as one of the country’s first startups. Computershare listed on the ASX in 1994 with a market cap of $36 million and has since expanded internationally.
80. Patrick Grove, Catcha – $801 million
University of Sydney alumni Grove now runs an internet empire in south-east Asia that includes ecommerce, search engines, car marketplaces and video streaming. Last year he sold his investment firm iProperty to REA Group, the owner of realestate.com.au, for $751 million.
109. Christian Beck, InfoTrack – $619 million
Beck’s latest success is InfoTrack, which is reportedly turning over $20 million despite only starting in 2011. The company’s software aids legal firms to go paperless, with a Sydney solicitor last year pulling off the country’s first fully digital conveyance using InfoTrack’s technology.
114. David Greiner & Ben Richardson, Campaign Monitor – $593 million
Campaign Monitor’s founders from southern Sydney are no longer involved in the day-to-day operations of the company but is still on the board and has oversight of the product strategy. The email marketing software startup counts some of the world’s most famous brands as clients – such as Facebook, Coca-Cola and Apple.
124. George Kepper, M-Group – $563 million
M-Group is an investment firm that has backed tech and pharmaceutical startups like Cohda Wireless, Inlink, Acendre and Pharmaxis. In the 1970s he founded data communications firm Datacraft, which he sold in 1997 to multinational Dimension Data for $300 million.
127. Leon Kamenev, Menulog – $558 million
Kamenev, who sold Menulog two years ago for $855 million, has upped his personal fortune from $539 million in last year’s Rich List. These days the Siberia-raised tycoon is involved with mathematics education tech startup Matific.
160. Tim Kentley-Clay, Zoox – $470 million
The Melbourne entrepreneur is currently busy in Silicon Valley working on autonomous vehicle technology with his $1.5 billion startup Zoox. The Blackbird-backed company is shrouded in secrecy as it is still in “stealth mode”, but did make headlines last year for raising $200 million of capital.
189. Craig Winkler, MYOB and Xero – $374 million
Craig Winkler is best known for founding accounting software firm MYOB, but he’s in the Rich List because he’s smart. Smart enough to later invest in MYOB’s biggest rival Xero – to the tune of $14.7 million 8 years ago. Xero’s shares are now worth 30 times what they were in April 2009.
193. Ori Allon, Compass – $364 million
Israel-born Allon is based in New York these days, running property technology company Compass. He previously started companies that eventually sold to Google and Twitter.
199. George Koukis, Temenos – $342 million
The University of Technology, Sydney alumni started his tech career at Qantas but later founded banking software provider Temenos in 2011.