The Rich List is having trouble keeping up with the wealth of Atlassian co-founders Mike Cannon-Brookes and Scott Farquhar.
So the Atlassian co-founder probably won't mind that the latest edition of theAustralian Financial Review Rich List for 2019 significantly underestimates both his wealth and ranking.
While property is still the path to riches for most of those who made the cut again this year,our tech entrepreneurs have made their presence felt in record numbers. A record 14 tech entrepreneurs made the Rich List this year - and are scaling the heights of the rich list with unseemly haste.
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The spiralling stock prices of companies like Atlassian,Afterpay and Wisetech have made it hard for the official tabulators of affluence to keep up.
The biggest leap on the Rich List came from Cannon-Brookes and his Atlassian partner Scott Farquhar. They nearly doubled their wealth from last year with Farquhar,fifth,pipping Cannon-Brookes,sixth,with a personal wealth of $9.75 billion and $9.63 billion respectively.
Most of their wealth derives from a combined 56 per cent stake in Atlassian,but the Rich List was measured from a 3 month average of the Atlassian share price taken from the first week of April. The stock has soared more than 48 per cent this year and the founder's stakes in the company alone would currently be worth around $12 billion each.
It means that their actual rank may be as high as two and three on the list,respectively,which was still topped by Anthony Pratt,the head of the Pratt family's packaging empire Visy,with a $15.6 billion fortune.