Australia’s richest people 40 and under break record

The total wealth of the Young Rich has eclipsed the record set in 2021, jumping 10.9 per cent to $41.7 billion. The wealth of the list took a hit in 2022 and only recovered slightly in 2023, but the stabilisation of unlisted tech firm valuations has pushed the combined fortunes of the richest 100 Australians aged 40 and under to above 2021’s record of $41.3 billion.

Canva co-founders Melanie Perkins and Cliff Obrecht, now aged 37 and 38 respectively, have topped the list for the fifth year in a row with an estimated combined net worth of $14 billion. The duo have been getting their business match-fit for a long-anticipated initial public offering by going on a recruiting drive for seasoned executives. Canva is believed to be targeting a listing in 2026.