The wealthiest Australians under 40 include uni dropouts, an F1 star, ex-Macquarie banker, and founders of businesses ranging from pet food to crypto casinos. The wealthiest people under 40 are now worth a combined $31.7 billion, led by Canva duo Melanie Perkins and Cliff Obrecht, who topped the list for the sixth year. Simon Beard, the founder of streetwear empire Culture Kings, wants to live as long as possible to enjoy his success. Airtree and Quadrant led a big capital injection into the Sydney robotics start-up, catapulting its founders up the Young Rich List.

The founder of the sportswear chain rose from 77th place to 29th and was the biggest mover of the year, with an estimated personal wealth of $221 million. The co-founder of America’s biggest predictions market built a platform that lets people bet on anything. Major betting agencies TAB, Betr and bet365 have SA Premier Peter Malinauskas at odds of $1.01 to win on March 21, unprecedented ahead of an election. Plus, our app includes live streaming features, providing added flexibility to watch and bet at your convenience.

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While the Sydney hedge fund’s bet on poker machine maker Light & Wonder has been an enormous success, other big positions have performed poorly for months. This may be one of those era-defining occupations – like being a Wall Street trader in the 1980s, a dotcom founder in the 1990s or an influencer in the 2010s. Prominent Australian-based global investors such as Plato’s Dave Allen are already using prediction markets to help pick stocks. New chief executive Andrew Vouris said an attempt to compete against Tabcorp inside pubs and clubs had distracted the bookmaker from what it does best.

This year’s biggest Australian corporate mess was a bolt from the blue, but also completely self-inflicted. The pressures of the global energy shock have forced Chris Bowen to withdraw from his first major engagement as the UN’s top climate negotiator. The online luxury store has overhauled its board and appointed the veteran retailer as it faces continued investor uncertainty about its outlook.

The total valuation of Australia’s 100 richest people aged 40 and under is diminished in 2022, but you still need $35 million to get on the list. The Young Rich List, now in its 20th year, shows shop owners are thriving in another patchy year for tech founders, and there’s a new young billionaire in town. The former Lendlease and Crown Resorts chief executive is leaving after two major shareholders, including Bally’s, took control of the embattled casino group. The Albanese government’s planned new restrictions mean people could opt out of gambling ads on their favourite podcasts or platforms like YouTube and Spotify. With the Unibet mobile app available for both iOS and Android devices, you can place bets wherever you have an internet connection.

Australia’s richest people 40 and under set wealth record

A growing number of shareholders say they will oppose the re-election of the chairwoman and other board members at this week’s annual general meeting. Richard White, the billionaire co-founder of the software giant privately reassured directors he would stop offloading stock. The high-profile board director said he was working to reduce his board commitments, which was “taking longer than expected” in face of investor concern. A search is under way, but whether Paul O’Sullivan can attract people with the requisite knowledge and experience as directors is another matter.

The businessman best known for his stake in Lovisa and other major brands owns almost 13 per cent of the New York-listed lingerie label and wants changes. The country’s second-largest superannuation fund has tripled the frequency it changes its bonds and equity portfolio to take advantage of volatile markets. The global payments group has raised $467 million from investors, who include all three of the country’s major venture capital firms. From term sheets to toddlers, these founders juggled building a business as well as a family.

Young Rich List 2025

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• Richard White, the billionaire co-founder of the software giant privately reassured directors he would stop offloading stock.

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We know how the excitement of betting and horse racing odds adds to the overall experience. The country’s largest super fund is Whitehaven’s largest shareholder, bringing some governance glare to the company’s board. Kic co-founder and CEO Laura Henshaw is handing over the reins to serial founder Jane Martino, who will lead the company through a major wellness expansion.

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