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Retail and tech start-ups fare well in Young Rich list

Thursday, 22 September 2011 | By Oliver Milman

Some of Australia’s leading start-up entrepreneurs have made an appearance onto this year’s BRW Young Rich list, with the tech and retail sectors well represented.

 

Ruslan Kogan, co-founder of Milan Direct, which came in third position at this year’s StartupSmart Awards, is estimated to have a $62 million fortune, mainly through his eponymous online tech retail business.

 

Other tech entrepreneurs feature prominently on the list, with Mike Cannon-Brookes and Scott Farquhar, co-founders of software firm Atlassian, in fourth position with a $360 million fortune, up from $314 million last year.

 

The duo, who are both 31-years-old, are among the youngest on the list, which recognises Australian entrepreneurs aged under 40. Last year, Atlassian raised $60 million from US investors Accel.

 

Other names familiar to the start-up community include Hezi Leibovich, co-founder of group buying sites Catch of the Day and Scoopon, with $80 million in wealth and Bevan Clark and Guy King, who have built a $77 million fortune after selling their discount coupon website RetailMeNot.com last year.

 

The success of software firm Aconex has seen its founders, Leigh Jasper and Robert Phillpot, amass a $60 million fortune, while 99Designs’ Mark Harbottle, who got a $35 million funding boost from Accel earlier this year, debuted on the list with $40 million.

 

Natalie Bloom, who founded a cosmetics empire in her parents’ garage at the age of 22, is estimated to have a $36 million fortune. Sarah-Jane Clarke and Heidi Middleton, the brains behind the sass&bide label, came in with $26 million.

 

Meanwhile, Kristina Karlsson, who started retail chain Kikki.k, is estimated to have a $20 million fortune.