BRW Young Rich 2014:

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1, 2… Mike Cannon-Brookes and Scott Farquhar

BRW Young Rich 2014: 1, 2. Mike Cannon-Brookes and Scott Farquhar<br /><br /><br /><br /><br />

Photo: Aaron Forman

$2.1 BILLION

LAST YEAR: $550 MILLION (1, 2)

AGES: 34 (BOTH). TECHNOLOGY.

SYDNEY

Self-made tech entrepreneurs Scott Farquhar (left) and Mike Cannon-Brookes (right) top this year’s Young Rich with its only billion-dollar fortune. The business partners and long-time friends are co-founders and majority shareholders of Atlassian, which makes software that helps companies track operational efficiencies. Clients include NASA, Microsoft and Facebook. The pair met in 1998 when they landed the same University of NSW scholarship for business IT. They started Atlassian in 2002 with a $10,000 credit card loan after Cannon-Brookes sent an email to classmates stating he was bored with studying. Farquhar was the only one to respond. Atlassian got its first outside investment in 2010 when US venture capital firm Accel Partners paid $US60 million for a 20 per cent stake. The second came in April this year when T Rowe Price and Dragoneer Investment Capital paid $US150 million for a 6 per cent stake, valuing the company at about $US3.3 billion. Farquhar and Cannon-Brookes still own about two-thirds of Atlassian, which is expected to list on a US stock exchange at some stage. Cannon-Brookes still wears his trademark T-shirt and baseball cap but has started to accrue a few trappings of wealth, with a weekend house in Sydney’s Palm Beach and a Tesla electric car. Farquhar still drives an old Subaru but has splurged on a personal trainer.

NOW READ: Full profile on Mike Cannon-Brookes and Scott Farquhar.

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3, 4… David Greiner and Ben Richardson

BRW Young Rich 2014 3, 4. David Greiner and Ben Richardson<br /><br /><br /><br /><br />

$500 MILLION

DEBUT

AGES: 36, 35. TECHNOLOGY.

SYDNEY

Friends since the age of five, Dave Greiner (right) and Ben Richardson (left) started a web consultancy business in 1999 while still at the University of Wollongong. Five years later it had morphed into Campaign Monitor, a service that allows businesses to design and send marketing emails en masse at 1¢ a message. The price has remained unchanged but the value of Campaign Monitor rose sharply this year when Insight Venture Partners injected $US250 million into it. Sending in excess of 1.5 billion emails each month, Campaign Monitor has been profitable since day one. It generated more than $57 million in revenue last financial year. Greiner is also an investor in Blackbird Ventures, an Australian venture capital company.

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5… Simon Clausen

BRW Young Rich 2014: 5. Simon Clausen<br /><br /><br /><br /><br />

Photo: Louise Kennerley

$487 MILLION

LAST YEAR: $350 MILLION (3)

AGE: 38. TECHNOLOGY; INVESTMENT.

GENEVA, SWITZERLAND

Simon Clausen is a Swiss-based technology entrepreneur who has been on the Young Rich since 2008 when US-listed giant Symantec bought his security software company PC Tools for $300 million. Clausen left Symantec in 2009 and subsequently founded Startive Ventures, a boutique venture capital fund and start-up incubator with investments in companies such as Freelancer, Digital Trends, Juwai, Rome2Rio and Zoomy.  Clausen is a big investor in listed outsourcer Freelancer and he bought more of its shares this year. He owns a large property portfolio in Sydney.

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6… Ruslan Kogan

$349 MILLION

LAST YEAR: $315 MILLION (4)

AGE: 31. TECHNOLOGY (RETAIL).

MELBOURNE

The Kogan.com online retail juggernaut continues, with brash entrepreneur Ruslan Kogan continuing his challenge to the traditional bricks-and-mortar retail giants by expanding into new private label brands. The firm, most well known for selling electrical and computing goods, has expanded into sporting, camping/outdoors and homewares through new private brands Fortis, Komodo and Ovela. Kogan started his online empire selling TVs out of his parent’s garage in 2006. Revenue is now more than $200 million per year, with Kogan using a combination of information technology, market analysis, logistics and efficiency to minimise costs and sell at least least 10,000 different line items. Kogan also owns a stake in online furniture store Milan Direct.

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7… Patrick Grove

BRW Young Rich 2014: 7. Patrick Grove<br /><br /><br /><br /><br />

Photo: Josh Robenstone

$344 MILLION

LAST YEAR: $95 MILLION (12)

AGE: 39. TECHNOLOGY; MEDIA; INVESTMENT.

KUALA LUMPUR, MALAYSIA; SINGAPORE

Patrick Grove is CEO and major shareholder of Catcha Group, a privately owned international investment firm controlling a number of private and publicly listed media, new media, online classifieds and e-commerce companies. Its portfolio includes iProperty Group, iCar Asia and iBuy Group, shares in each of which have risen rapidly in the past 12 months. Catcha also owns a big stake in the Malaysian listed REV Asia Berhad and has stakes in property portals in the Middle East and Pakistan. A chartered accountant by trade, Grove left Arthur Andersen in 1999 and co-founded Catcha later that year.

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8…Owen Kerr

DEBUT

$256 MILLION

AGE: 30. SERVICES (FINANCE)

MELBOURNE

Owen Kerr is the co-founder of online retail foreign exchange broker Pepperstone. Kerr met his business partner Joe Davenport in 2009 and established Pepperstone the following year (Davenport holds a United Kingdom passport). Kerr graduated from Monash University with a bachelor degree of business systems in 2005. Before statring Pepperstone, he worked at accounting firm PwC and Bastia Asset Managment. Kerr was part of a big story earlier this year when he detected a link between some trading and the release of Australian Bureau of Statistics state, that led to charges of insider trading. Pepperstone has offices in Melbourne, Shanghai, Dallas and Odessa. An stockmarket listing is expected later in the year

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9…Hezi Leibovich

$213 MILLION

LAST YEAR: $190 MILLION (6)

AGE: 38. RETAIL.

MELBOURNE

Hezi Leibovich’s The Catch Group, co-founded by Hezi and older brother Gabby in 2006, keeps growing at a fast pace. Revenue rose more than 50 per in the past to about $350 million. The business began with online retail website CatchOfTheDay offering discounted daily deals, with James Packer part of a consortium that paid $80 million for 40 per cent in 2011. It now has seven different sites, including, group-buying site Scoopon, supermarket site GroceryRun, fast food delivery service EatNow and homeware site West Avenue. A sporting goods deal website is also planned. Leibovich is optimistic about the group’s future growth. “Eight years on I am proud of our successes. We have built a sustainable and profitable business that is here for the long term where shareholders and staff can benefit.”

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10, 11…Gavin Fernandez and George Nakas

$188 MILLION*

LAST YEAR: $28 MILLION (60**)

AGES: 40, 39. RETAIL; ENERGY.

MELBOURNE

Gavin Fernandez debuted on the Young Rich last year following the sale of True Value Solar to German engineering company M+W. He and business partner George Nakas also owned a second energy venture, LEDified Lighting Corp, which they sold to its management last year. That deal allowed the pair to focus on their automotive businesses. They sell luxury and classic sports cars to the wholesale and retail markets through their James Lane Motors, Dutton Wholesale and sellyourcarfast.com.au brands.

* Includes new information on car business.

** Fernandez only. Nakas debuts this year.

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12, 13…Ivan Brown and Atkinson Charan

$177 MILLION

DEBUT

AGES: 35, 34. EDUCATION.

MELBOURNE

Ivan Brown and Atkinson Charan are majority owners of Community Training Initiatives, set up four years ago to capitalise on deregulation in the state-funded vocational training industry. CTI, of which Brown is chief executive, is part of a wave of education firms that have caught the eye of investors, with parent company Australian Careers Network Group set for a sharemarket listing. In an attempt to grow awareness, CTI is sponsoring teams including the Melbourne Victory A-League football team, the National Basketball League’s Melbourne United and the Australian women’s softball team.

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14,15…Mitchell Harper and Eddie Machaalani

BRW Young Rich 2014: 14,15. Mitchell Harper and Eddie Machaalani<br /><br /><br /><br /><br />

Photo: Nic Walker

$162 MILLION

LAST YEAR: $135 MILLION (8,9)

AGES: 32, 35. TECHNOLOGY.

SYDNEY

Mitchell Harper (right) and Eddie Machaalani (left)
co-founded Bigcommerce, an
e-commerce platform that allows small to medium businesses to set up their own online store. It has created more than 50,000 of them in 137 countries and eBay has agreed to migrate 10,000 of its merchants to Bigcommerce by next February. Established in 2009, Bigcommerce has since received $US75 million in venture capital. Machaalani has said he does not intend for the company to become profitable for another five years. He met Harper via an internet chat room in 2003, with the pair starting their first online company Interspire a year later. Bigcommerce targeted Google and Facebook workers earlier this year, offering free poached egg breakfast sandwiches to those waiting for their employer’s shuttle buses. The campaign led to a big increase in job applications.

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Henry Sapiecha