Neel Khokhani - Financial Review Young Rich List

Neel Khokhani - Young Rich List
Wealth Almost Doubles to $41.2b

Financial Review Young Rich List

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.

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.

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.



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.

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