2018 AFR Young Rich List: Atlassian co-founders Australia's richest young entrepreneurs

This year marks the 15th anniversary of the Young Rich List, which recognizes self-made wealth created by people's ingenious ideas, hard work and determination. Too much of the wealth of the wealth of the world, the richest person on the inaugural list in 2003 was John Ilhan, with an estimated wealth of $ 200 million, which is roughly $ 282 million in today's money. That would only be enough to put Ilhan, the man who started Crazy John's mobile phone chain, in 16th place this year, sitting behind fintech whiz kid Nicholas Molnar, whose wealth has rocketed from $ 95 million last year to $ 341 million as investors flock to his Afterpay Touch Group business.

Molnar is part of this year's big trend – more than a third of the 21 new entrants are playing in the finance and fintech space. They include co-founders of Prospa, Greg Moshal ($ 101 million) and Beau Bertoli ($ 45 million), who built their fortunes out of small business' frustration with accessing finance. In 2012 they launched Prospa, which offers 24 hours. There is also a lot of money in the industry, including the likes of Adam Harvey and Rishi Khilnani, Caledonia's New York-based chief investment officer Mike Messara, and VGI Partners' Doug Tynan.

Meanwhile there's money to be made by offering the Instagram generation feel-good fixes, from fitness to face fillers. Kayla Itsines and Tobi Pearce are big movers this year for their fitness app, Sweats, booms worldwide. More than 30 million people have signed up to the $ 20-per-month subscription app since its inception in 2015.

Alarna Long-term debut with an estimated wealth of $ 29 million, derived from its stake in the Clearskincare Clinics business that was snapped up by Australian Pharmaceutical Industries in June. The business offers anti-wrinkle injections, dermal fillers, and teeth whitening and acne treatments. Kate Morris and Husband James Earned Early Life with an estimated wealth of $ 30 million due to the success of their online cosmetics business Adore Beauty. Miranda Kerr, who continues to grow Kora Organics skincare, while Alex Tomic and Nik Mirkovic, the Gold Coast entrepreneurs behind LED teeth-whitening HiSmile business kit, are now turning over $ 50 million.

There are also debates from well-known individuals, with Steve Smith having an estimated wealth of $ 27 million. It flows from its investment in the Koala and his investment property portfolio. His wealth would have been significantly increased in a scandal-like scandal in March

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Another sports star Smith on the debut podium: Formula One driver Daniel Ricciardo with an estimated wealth of $ 34 million.

Young Rich worth $ 23.5b

It's a record wealth year for the Financial Review Young Rich Listers. All up they're worth more than $ 23.5 billion, Mike Cannon-Brookes and Scott Farquhar, thanks to the eye-popping Atlbadian. But even if you strip the duo's collective $ 14.2 trillion mega wealth pile, the remaining Young Rich Listers are doing extraordinarily well as they benefit from big fundraising rounds that have boosted company valuations and strong revenue growth.

Indeed, six of them would qualify to start on the Financial Review Rich List – Australia's richest 200 people regardless of age – if it were also published today. They are Itsines and Pearce ($ 486 million); Collis and Cyan Ta'eed ($ 428 million), the husband and wife team behind the creative market Envato; farming and finance capital investor Peter Greensill ($ 412 million); and Sam Prince ($ 394 million), who founded the Mexican fast food franchise Zambrero and has branched out into medical investments.

Falling off the list are Joel Macdonald from GetSwift and Matt Berriman from Unlockd, which went into voluntary administration this year. Others such as Stylerunner 's Julie Stevanja have dropped off because of their individual stakes in the business.

An irony is that, despite many cashing in a generation of narcissism, the overwhelming majority of the people on the Young Rich List do not want to be on it. Maybe it's a case of Australian tall poppy syndrome.

"It's the opposite of the US," says Square Peg Capital co-founder Paul Bbadat, who's featured on the inaugural Young Rich List by developing online jobs at Seek alongside his brother Andrew. "In Australia, their richness and understatement, it's cultural, absolutely."

The AFR Young Rich Magazine is out on Friday October 26 inside The Australian Financial Review.

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