Annual Young Rich List sees a combined loss of $11bn in 2022

October 27, 2022 9:24

The combined wealth of the 100 richest young Australians aged 40 and under have fallen 27% during the past 12 months to a four-year low of $30 billion, reveals the Financial Review 2022 Young Rich List released today.

With valuations of technology companies falling as interest rates rise, Australia’s richest young entrepreneurs have collectively lost $11 billion from the value of their companies. Some $3 billion of that has been struck from the estimated fortune held by Canva co-founders Melanie Perkins, 35, and Cliff Obrecht, 36.

At 27, Ed Craven becomes Australia’s youngest-ever self-made billionaire.

But it’s not all bad news for the couple, with the pair continuing their run at the top of the Young Rich List, with a combined wealth of $13.7 billion.

Subscribe to keep reading

Join Mumbrella Pro to access the Mumbrella archive and read our premium analysis of everything under the media and marketing umbrella.

Emma Shepherd

Emma Shepherd was the acting deputy editor at Mumbrella who has over seven years of print and digital experience in the industry and has previously worked as a reporter for media outlets Bauer Media (now Are Media), Yahoo Australia, and a content strategist and writer for various independent marketing agencies.

Topics