Young Australian entrepreneurs have shown the same kind of tenacity and resourcefulness that entrepreneurs around the world typically possess. This has helped them pull through some tough times in 2020 and 2021.
It’s a mindset – When others see adversity, entrepreneurs often spot an opportunity.
This is what has prompted us to publish the list of ten most famous young Australian entrepreneurs.
Some of these entrepreneurs are already well-known, whilst others have a bright and promising future ahead of them.
List of Famous Young Australian Entrepreneurs
Nick Molnar, AfterPay
Founder of the company: Afterpay
Company Established – 2015
Estimated wealth – $1.10 billion as of 2021
Worldwide, Fintech is a field that has innovation in its DNA, and it’s no different in Australia.
For example, Nick Molnar’s startup Afterpay (one of the top tech startups in Australia) is the leading player in Australia’s Buy Now Pay Later (BNPL) business.
Squarepay recently acquired the company for $ 39 billion, a US-based company backed by Twitter’s founder Jack Dorsey (Source: AFR)
What led to Afterpay being acquired for such a heft price tag is a dream Australian startup story.
The company had sales of 11.1 billion Australian dollars in 2020, which resulted in its share price crossing 100 Australian dollars for the first time. This rise has seen the name AfterPay becoming synonymous with the BNPL sector.
By November 2020, the stock had risen to105 Australian dollars. (Source: CNBC.)
Not bad for a company that had a stock value of just 8 Australian dollars in March 2020. This meteoric rise saw Molnar becoming Australia’s youngest self-made billionaire. (Source: Business Insider.)
Molnar saw an opportunity in the changing habits of millennials who did not want to be saddled with credit card debt. So the company set up partnerships with retailers to offer consumers products in easy installments to cater to this.
Among those who have vouched for the company is Kim Kardashian. But, of course, in our celebrity-obsessed culture, that counts for a lot!
To further validate Afterpay’s potential, Chinese tech giant Tencent bought a 5 percent stake in Afterpay for $251 million. (Source: Reuters.)
And rest, as they say, is history! Square’s acquisition of the company has validated all the trust investors had put in this fantastic startup.
The future looks bright for both Molnar and the co-founder of the company, Anthony Eisen.
Melanie Perkins, Canva
Company Established – 2013
Estimated wealth – $7.98 billion as of May 2021
Perkins pursued her passion for simplifying graphic design and founded two companies to capitalize on the business opportunities she spotted: Fusion Books and Canva.
Canva is a globally known graphic design tool that has grown from strength to strength — particularly during the 2020 pandemic, an event that accelerated the rising shift towards remote, collaborative work.
Perkins and her husband Cliff Obrecht are worth a combined 8 billion Australian dollars, per the Australian Financial Review. (Source: Wikipedia.)
This wealth means the couple is jointly listed in 10th place in Australia’s wealthiest people list. The only Australian woman richer than Perkins is Rinehart. (Source: Channel 9 News.)
Perkins has also featured on the cover of Forbes and has been a part of the Forbes 30 Under 30 list. (Source: Forbes.)
It hasn’t been an easy ride for Canva to become one of the famous brands in a space that involves heavyweights such as Adobe. But through sheer tenacity and belief in her vision, Perkins has accomplished the unachievable.
Cliff Obrecht, Canva
Each of the two co-founders has about a 15 percent stake in the company making their combined wealth 8 billion Australian dollars.
Mike Cannon-Brookes, Atlassian
He and his buddy earned a first for Australian billionaires — they are the first tech billionaires in a land where mining or banking usually leads to wealth.
Scott Farquhar, Atlassian
Atlassian’s revenue of more than 1.61 billion USD shows that the company has a solid foundation and is run by steady hands.
Ruslan Kogan, kogan.com
Kogan.com company is ASX listed, and Mr. Kogan’s net worth is estimated to be about half a billion Australian dollars.
Kayla Itsines, Sweat App
Kayla has built a multi-million dollar business with her Sweat app and has become a multi-millionaire herself.
James Gilmour, Gilmour Space Technologies
Backed by VCs Gilmour Space Technologies has gone from strength to strength and plans to launch its first commercial orbital vehicle around the middle of 2022.
Janine Allis, Boost Juice
Janine had worked with Village Roadshow and United International Pictures before starting on her entrepreneurial path.
Maxine Horne, Vita group
Thriving in a fast-growth but hyper-competitive telecom industry has made Maxine Horne one of the most inspiring Australian entrepreneurs.