Flying the flag for South Australia, Adelaide-based fitness couple Kayla Itsines and Tobi Pearce are racing up the 2017 Financial Review Young Rich List, which was announced today. The successful, business-savvy duo, aged 25 and 26 respectively, take places 40 and 41 on the List, with shared wealth of $63 million. This sees Itsines rises 11 places on the Young Rich List – she was #51 in 2016.
As the only South Aussies represented on the list, it also makes them the most successful Adelaidians under the age of 40, which is the cut off age for the list.
Itsines and Pearce co-own Bikini Body Training Company which launched Sweat, an app that earned the pair $16 million revenue in 2016. This year, they launched a new app with Itsines joining forces with Sjana Elise Earp (Body and Mind yoga program) and Kelsey Wells (Self post-pregnancy program).
Itsines was named by Forbes as the world’s most inﬂuential ﬁtness identity and has also released a number of books including The Bikini Body 28-Day Healthy Eating & Lifestyle Guide.
Topping the Young Rich List for 2017 is Atlassian co-founders Mike Cannon-Brookes and Scott Farquha, with combined wealth of $6.08 billion.
The technology duo’s rise in wealth follows a surge in the share price of their software company Atlassian on the US NASDAQ exchange market. Cannon-Brookes and Farquhar have topped the Young Rich List a record six times, jointly taking out the #1 spot in 2012, 2013, 2014, 2015, 2016 – and again this year.
Cannon-Brookes and Farquhar’s wealth total as of 2017 equals more than 10 times the wealth of the next two placegetters on this year’s Young Rich List.
The third and fourth spots on the 2017 Young Rich List are occupied by another technology duo – Dave Greiner and Ben Richardson – with a combined wealth of $607 million. Greiner and Richardson are co-founders of Sydney web marketing services company Campaign Monitor.
Number five on the List in Melbourne property developer Tim Gurner, who runs development company Gurner.
Gurner, whose wealth sits at $465 million, hit the headlines in May this year after saying that young Australians would struggle to buy a home when they were “spending $40 a day on smashed avocados and coffees and not working.”
Coming in at #6 is co-founder of online foreign exchange trader Pepperstone, Owen Kerr, with wealth of $368 million. He sits one place above New York-based technology and property identity Ori Allon, who ranks at #7 with wealth of $364 million.
Number eight is Sydney retailer and biotechnology company founder Sam Prince with wealth of $318 million. Prince owns both Mexican fast food chain Zambrero and emerging genetics testing company Life Letters.
Rounding out the top 10 is husband-wife duo Collis and Cyan Ta’eed, who sit at #9 and #10 respectively with combined wealth of $216 million. The Ta’eed’s are co-founders of online graphic marketplace Envato.
The 100 members of the 2017 Financial Review Young Rich List have enjoyed a stunning rise in wealth this year, with a booming property sector, technology market and beauty industry boosting overall wealth to a record $13.2 billion.
Technology remains the dominant sector for 2017 with 38 people on the List, followed by financial services with 12 and retail with eight.
There are 27 debutants on the 2017 Young Rich List, including global fitness and health star Emily Skye (#83, $32 million) and Airtasker co-founders Tim Fung and Jonathan Lui (#66 and #67, $41 million).
The youngest debutants are HiSmile co-founders Nik Mirkovic and Alex Tomic. The Gold Coast duo, aged 22 and 24 respectively, debut at #58 and #59 with combined wealth of $46 million.
There are nine women on the 2017 Young Rich List, up from eight in 2016. Notable names include Canva CEO Melanie Perkins (#17, $128 million), model Miranda Kerr (#62, $44million) and fitness guru Kayla Itsines, who jumps 11 places up to #40 with shared wealth of $46 million.
The Financial Review Young Rich List, recording Australia’s wealthiest self-made citizens aged 40 and under, has been published annually since 2003.