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.

Be a member to keep reading

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

Become a member

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