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Wealth

Young Rich

The definitive list of our best and brightest next generation of entrepreneurs, aged 40 and younger. See who’s up, who’s down and meet the debutants in the Financial Review Young Rich list.

The 2023 List

Featured

Ed Craven, Australia’s youngest billionaire, has built an online casino with American friend Bijan Tehrani.

Gambling, pranks, lucrative contracts: Inside livestreaming site Kick

The Twitch competitor has doled out generous deals to content creators. It has also faced criticism for its lax moderation and embrace of online gambling.

  • Kellen Browning
Sweat co-founder Kayla Itsines, who with the other co-founder Tobi Pearce has bought the digital fitness empire back.

Young Rich Listers buy back Sweat for a song

Kayla Itsines and Tobi Pearce have regained control of the digital fitness empire they sold at the height of the pandemic.

  • Michael Bailey
Jaddan Comerford’s quest for new revenue streams from music has paid off handsomely with STL Tones.

Classic guitar tones made this Young Rich Lister a 150-times return

An Australian start-up that allows record producers to license their signature sounds has taken off for Unified Music founder Jaddan Comerford.

  • Michael Bailey
How I Made It with Kevin Gosschalk

Why this Young Rich Lister shuns Australian investors

“When you find something you really enjoy, sleeping really just gets in the way,” says Kevin Gosschalk, the Young Rich Lister behind Arkose Labs.

  • Julie-anne Sprague
Kevin Gosschalk, founder of Arkose Labs, says cybercrime has become industrialised like never before.

Meet the Young Rich Lister fighting bots for Elon Musk

The Brisbane-born Young Rich Lister behind Arkose Labs says a company’s marketing and cybersecurity teams must be forced to work closer together.

  • Updated
  • Michael Bailey
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Featured

Australia’s 100 richest people under 40 revealed

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.

  • Updated
  • Michael Bailey

A chicken heir, a Waterhouse and Ozempic: your Euro wedding bingo card

Getting married in Australia is so 2022. This year, all the best weddings were in one place and ticked plenty of the same boxes.

  • Lauren Sams and Samantha Hutchinson

‘What the eff?’: Jack Zhang on Airwallex’s near-death experience

A close call with Silicon Valley Bank could have wiped out half a billion of capital. The swiftness of Airwallex’s response demonstrates why it’s a company to watch.

  • Michael Bailey

A pair of statement heels landed this uni dropout on the Young Rich List

Argylica Conditsis’ business started when she couldn’t find bedazzled shoes. This year, she and brother William debut on the list of Australia’s most wealthy under 40.

  • Eugenie Kelly
Jake Paco at his warehouse in Alexandria, Sydney.

His teachers said he’d end up in jail. Now he’s on the Young Rich List

Geedup founder Jake Paco has conquered his demons and is taking his cult streetwear brand from western Sydney to New York.

  • Carrie LaFrenz

October 2023

The 16 new faces on the Young Rich List

One made a fortune from glittery statement dresses, another sold up to Sam Bankman-Fried just in time. The newest self-made 40-and-unders are a mixed bag.

  • Michael Bailey

One of the fastest growing categories for Young Rich Listers – vanity

Australian beauty brands have pushed out the established labels, from toothpaste to tanning, with a little product innovation and a lot of savvy marketing.

  • Lauren Sams

The green energy multimillionaires taking over the Young Rich List

US-based investor and Young Rich List debutant Gregory Green made an estimated $100 million after selling his share of a landfill gas developer.

  • Michael Bailey

This Young Rich Lister loves psychedelics, crypto – and art

Prash Puspanathan, an early adopter of cryptocurrency, has commissioned a giant robot for his pool.

  • Michael Bailey
Adrian Portelli is one of the debutants on this year’s Young Rich list.

Lambo-loving Young Rich lister is a ‘shy person’

Known for his attention-seeking stunts and love of sports cars, Adrian Portelli has rocketed into the Young Rich List. But his business is under scrutiny.

  • Tony Davis and Michael Bailey
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September 2023

Erin Deering.

She was a Young Rich Lister. She hated it

Erin Deering was once one of the richest, young women in the country. It nearly broke her.

  • Lauren Sams

Being an introvert helped set up this Young Rich Lister to make $1b

Alex Tomic didn’t find university challenging, so he quit. Now he’s worth $125 million and climbing, as the toothpaste-related company he formed with a childhood friend shines bright.

  • Julie-anne Sprague
Stake.com founders Ed Craven and Bijan Tehrani.

North Korea behind $60m heist from Young Rich Lister’s crypto casino

The FBI has credited North Korea’s notorious Lazarus Group, also known as APT38, for the hack.

  • Max Mason

August 2023

Online retailer Cettire sells luxury goods such as Gucci, Burberry, Fendi and Dolce & Gabbana, but holds no inventory.

Cettire founder pockets more than $200m in three sell-downs

Young Rich Lister Dean Mintz has confirmed he sold a chunk of shares this week, adding $100 million to the $107 million he had already snared.

  • Carrie LaFrenz
The paper wealth of Cettire founder and CEO Dean Mintz grew $60 million in the stock’s rally on Thursday.

Cettire founder $60m richer after earnings update

The Young Rich Lister Dean Mintz controls 45.94 per cent of the online luxury platform. His stake gained $60 million in value on Thursday.

  • Carrie LaFrenz and Joanne Tran

July 2023

Mina and Scott O’Neill, the founders of buying agency Rethink Investing, are set to return to the Young Rich List in 2023 with an $80 million valuation.

Commercial property is king, says Young Rich buyer’s agent

The demand for residential property among high net worth investors has plummeted, according to Rethink Investing’s Scott O’Neill.

  • Michael Bailey

Meet the 11 rising stars from fund management’s ambitious next gen

These next-generation fund managers have a talent for picking stocks and a passion for investing.

  • Updated
  • Emma Rapaport
Mark Judge and Francesca Packer in 2020, at the heiress’s 26th birthday party.

Robert Bates used fake bank transfer to buy Francesca Packer a diamond

The wellness start-up founder, who is being pursued by his investors for more than $15 million, claimed that the ring was a fake and refused to pay for it.

  • Jessica Sier

June 2023

The property has been revamped by interior architects Richards Stanisich.

Laser Clinics co-founder Alistair Champion buys $69m Point Piper home

The entrepreneur and wife Kate have proved to be savvy property traders, while billionaire David Teoh’s sons have become neighbours on Sydney’s north shore.

  • Bonnie Campbell
Most women, says Kayla Itsines, don’t know what they want when it comes to fitness.

Rich Lister Kayla Itsines is finally ready to talk now

Australia’s most famous personal trainer is exactly who she says she is. And she has a lot to say, including on her break-up with her business partner and fiance, Tobi Pearce.

  • Lauren Sams
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May 2023

Gucci is one of the luxury brands sold on the online platform Cettire.

Cettire climbs on sales and market share

Rate hikes and the squeeze on households have not hurt luxury spenders, with Cettire trading up strongly over the first four months of calendar 2023.

  • Carrie LaFrenz
Mark Woodland tried out retirement for two weeks before returning to work to start a new business, Kismet.

Why this Young Rich Lister quit retirement in two weeks

After selling his first software company, Mark Woodland is starting again from scratch with a new business for NDIS participants.

  • Tess Bennett

March 2023

Simon and Tah-nee Beard, the founders of Culture Kings, have stepped back from their executive positions.

Why Rich Lister Simon Beard left Culture Kings

Culture Kings founders Simon and Tah-nee Beard have left their operational roles less than two years after it was acquired by Boston’s Summit Partners.

  • Michael Bailey

February 2023

Troubled businessman Robert Bates.

Robert Bates’ limo driver tipped $200k into Aurum+, Aquamamma

Embattled businessman Robert Bates convinced his limousine driver to invest almost $200,000 in his wellness start-ups Aurum+ and Aquamamma.

  • Jessica Sier
Cettire swings to first half profit.

Luxury buyers help Cettire surge back to profit

The online seller of luxury goods does not expect its wealthier customers to be bothered by higher interest rates and other economic challenges.

  • Carrie LaFrenz