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

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

• Financial Review Young Rich List

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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.
Thats nearly double 2018s 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.
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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 founders business, is Ori
Allon.
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His seven-year-old real estate portal, Compass,
took on a ninth round of funding, valuing it at
more than 9 billion and increasing Allons
personal wealth from 539 million to 747
million. ASX-listed REA Group isnt 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 Americas 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.
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The companys 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 its 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.
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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 whos made 66million
  soars into Australias Young Rich list