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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

    Simon and Tah-nee Beard, the founders of Culture Kings.

    The Young Rich Listers set to smash Queensland property records

    Simon and Tah-nee Beard have listed their luxury penthouse for $30 million, more than double what they paid.

    • Updated
    • Julie-anne Sprague and Bonnie Campbell

    What Rich Listers think about money – and what they teach their kids

    Nine of Australia’s wealthiest people reflect on their journey with money and whether material success leads to a rich life.

    • Michael Bailey, Lauren Sams and Yolanda Redrup
     The Di Petta’s collection of Ford Mustang muscle cars, such as these examples pictured, were frozen by the court.

    ATO freezes former Young Rich Lister’s muscle cars, mansion

    The flamboyant accountant Steve Di Petta, who has a penchant for Ford Mustangs, is facing allegations he and his wife owe the Tax Office over $3 million.

    • Max Mason

    How a uni dropout went from Maccas to building a $100m company

    Mark Woodland was expanding his education start-up before realising he’d overlooked a critical component for its success and he had to fix it.

    • Julie-anne Sprague
    Laurence Escalante on one of his boats in Perth.

    Gambling mogul lists superyacht at $10m, starts retailing supercars

    A spokesman for Laurence Escalante’s private office said the sales were part of a new business venture.

    • Primrose Riordan
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    Featured

    This former Young Rich Lister just spent $700k to alter his genes

    Nick Bell’s first business failed, his next made him millions. The serial entrepreneur’s latest business venture involves helping people live longer.

    • Julie-anne Sprague

    The homeschooled billionaire who built a fortune before turning 40

    Shaun Bonett was the country’s richest person under 40 in 2007. Now a billionaire, he shares his story, including a humiliating $25 million mistake.

    • Julie-anne Sprague
    Cettire, an online luxury fashion retail platform, has divided investors since listing on the ASX in December 2020.

    Cettire defends CEO’s $127m share sale ahead of stock slump

    Dean Mintz offloaded the stake in the luxury retailer after questions were raised about the company’s customs duties. He remains the largest shareholder.

    • Carrie LaFrenz and Jonathan Shapiro
    The Australian Financial Review purchased four items from Cettire, retailing’s runaway success.

    We spent $1300 shopping at Cettire. Here’s what happened

    It’s the buzziest stock on the ASX, thanks to “eye-watering” sales and wide margins. Customer reviews aren’t all so glowing. What’s behind the success?

    • Jonathan Shapiro and Carrie LaFrenz
    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

    November 2023

    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

    October 2023

    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
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    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

    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

    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
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    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