Scott Farquhar

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Scott Farquhar
Scott Farquhar.png
Farquhar in 2018
BornDecember 1979 (age 44)
NationalityAustralian
Education James Ruse Agricultural High School
Alma mater University of New South Wales
Known forCo-founding Atlassian
Board member of Atlassian
SpouseKim Jackson
Children3

Scott Farquhar (born December 1979) is an Australian billionaire business magnate who is the co-founder and co-chief executive officer of software company Atlassian. Farquhar often carries the epithet of accidental billionaire after he and his business partner Mike Cannon-Brookes founded Atlassian with the aim to replicate the A$48,500 graduate starting salary typical at corporations without having to work for someone else. [1] [2]

Contents

Member of Technology Council of Australia. [3]

Early life

Farquhar was born in December 1979. [4] He attended James Ruse Agricultural High School and Castle Hill Primary School [5] [6] and graduated from the University of New South Wales, with a Bachelor of Science (BIT). [7] [8]

Career

With Cannon-Brookes, Farquhar is the co-founder and co-chief executive officer of Atlassian, a collaboration software company with more than 260,000 large and small organisations as customers – including some of the biggest names in media, manufacturing and technology [9] – use Atlassian's tracking, collaboration, communication, service management and development products. Cannon-Brookes and Farquhar were recognised for their achievements as the Australian Consensus IT Professional of the Year award in 2004, and Australian 2006 Entrepreneur of the Year. [8] Farquhar has mentored through the Australian Businesswomen's Network and gives guest lectures on entrepreneurship to MBA students and undergraduates. [1]

In 2018, Farquhar spoke out against the Australian Government's renaming of the 457 visas, saying the move damages Australia's reputation as a place that people want to come to work. [10]

Farquhar is a significant investor in tech startups through a privately held investment fund, Skip Capital. [11] [12] As of 2021, the fund had a stake in four Australian tech unicorns, including Canva and Airwallex; along with overseas firms, such as Talkdesk, a provider of cloud-based contact centre software based in San Francisco. [12] [13]

Personal life

He is married to Kim Jackson and they have three sons. [14] [15] In 2017 Farquhar purchased from the Fairfax family its former ancestral Sydney harbourside home, Elaine, for approximately A$75 million. The Point Piper home set on 6,986 square metres (75,200 sq ft) had been in the ownership of the Fairfax family since 1891 and was vacant for nearly twenty years prior to its purchase by Farquhar. [16] [17] In 2020 it was reported that Farquhar plans a partial knock-down of unsympathetic renovations to Elaine, and rebuild a A$30 million contemporary home. [18] In 2018 Cannon-Brookes bought the house next door, Fairwater , Australia's most expensive house at approximately A$100 million. [19] In April 2022 Farquhar saved a man's life in Las Vegas. [20]

Net worth

Alongside his business partner, Cannon-Brookes, Farquhar debuted on the 2007 BRW Young Rich list of the richest Australians aged 40 and under, and on the BRW Rich 200 in 2013 with an estimated net worth of A$250 million. In 2016, his net worth was estimated by Forbes on the list of Australia's 50 Richest people as US$1.75  billion; [21] [22] by BRW Rich 200 as A$2.00 billion; [23] and by the Sunday Times Rich List as £906 million. [24] As of 2019, Farquhar was ranked fifth in the Forbes list of Australia's 50 Richest people with a net worth of US$6.40 billion. [25] He was ranked seventh on the Financial Review 2023 Rich List with a net worth of A$18.16 billion. [26]

Year Financial Review
Rich List 		Forbes
Australia's 50 Richest 		Sunday Times
Rich List
Rank Net worth (A$)Rank Net worth (US$)Rank Net worth (£)
2013 [27] [28] 190Increase2.svg$0.25  billion Increase2.svgn/anot listed
2014 [29] [30] 35Increase2.svg$1.07 billion Increase2.svgn/anot listed
2015 [31] [21] 42Increase2.svg$1.14 billion Increase2.svg25Increase2.svg$1.10 billion Increase2.svg
2016 [23] [21] [24] 18Increase2.svg$2.00 billion Increase2.svg15Increase2.svg$1.75 billion Increase2.svg£906 million Increase2.svg
2017 [32] [33] 18Steady2.svg$2.51 billion Increase2.svg10Increase2.svg$3.40 billion Increase2.svg
2018 [34] 11Increase2.svg$5.16 billion Increase2.svg5Increase2.svg
2019 [35] [25] 5Increase2.svg$9.75 billion Increase2.svg5Steady2.svg$6.40 billion Increase2.svg
2020 [36] 6Decrease2.svg$16.69 billion Increase2.svg
2021 [37] [38] 5Increase2.svg$20.00 billion Increase2.svg$13.70 billion Increase2.svg
20224Increase2.svg$26.40 billion Increase2.svg
2023 [26] 7Decrease2.svg$18.16 billion Decrease2.svg
Legend
Icon Description
Steady2.svgHas not changed from the previous year
Increase2.svgHas increased from the previous year
Decrease2.svgHas decreased from the previous year

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References

  1. 1 2 Fitzsimmons, Caitlin (12 April 2014). "Accidental billionaires: why Atlassian's Mike Cannon-Brookes and Scott Farquhar are so admired in the start-up industry". Financial Review . Australian. Retrieved 9 June 2016.
  2. ↑ Kitney, Damon (27 February 2016). "The Cannon-Brookes: balancing life as accidental billionaires". The Australian . Retrieved 9 June 2016.
  3. ↑ "Tech Council – Meet Our Board" . Retrieved 13 January 2024.
  4. ↑ "Atlassian Corporation PLC - Officers" . Retrieved 30 May 2016.
  5. ↑ Fitzsimmons, Caitlin (25 July 2014). "How Atlassian's Scott Farquhar and Mike Cannon-Brookes became software titans" . Retrieved 30 May 2016– via The Age.
  6. ↑ Baker, Jordan (18 December 2020). "25 years at the top of the HSC: What makes James Ruse special". The Sydney Morning Herald.
  7. ↑ "#1275 Scott Farquhar". Forbes . 2016. Retrieved 9 June 2016.
  8. 1 2 Atlassian. "People - Atlassian" . Retrieved 30 May 2016.
  9. ↑ missing
  10. ↑ "Atlassian boss Scott Farquhar warns visa rule changes risk stunting local tech growth". The Australian Financial Review. 2 November 2017. Retrieved 28 September 2018.
  11. ↑ "Venture capital funding plunges almost 75pc in a year". Australian Financial Review. 7 October 2022. Retrieved 8 October 2022.
  12. 1 2 Stensholt, John (16 August 2021). "Atlassian billionaire Scott Farquhar helping make unicorns as Aussie tech booms". The Australian. Retrieved 8 October 2022.
  13. ↑ Waters, Cara (14 February 2021). "Skip Capital shifts focus to next-generation infrastructure". The Sydney Morning Herald. Retrieved 8 October 2022.
  14. ↑ Fitzsimmons, Caitlin (25 July 2014). "The untold story of the rise of Atlassian duo Scott Farquhar and Mike Cannon-Brookes". AFR Weekend . Australia. Retrieved 9 June 2016.
  15. ↑ Chancellor, Jonathan (29 April 2017). "37-year-old Scott Farquhar pays more than $70 million for derelict Fairfax mansion Elaine". Daily Telegraph . Retrieved 5 May 2017.
  16. ↑ Tan, Su-Lin (30 April 2017). "Fairfax family sold Elaine for circa $75m with a sentimental discount". The Australian Financial Review . Retrieved 5 May 2017.
  17. ↑ Macken, Lucy (29 April 2017). "Point Piper estate Elaine sold for more than $70 million, sets national price record". Domain. Retrieved 5 May 2017.
  18. ↑ Macken, Lucy (31 July 2020). "Point Piper's Elaine mansion set for partial knock-down and $30m contemporary rebuild". Domain. Retrieved 31 July 2020.
  19. ↑ "Australia's most expensive house sells for $100m". OneRoof. NZME Publishing Limited. 28 September 2018. Retrieved 29 September 2018.
  20. ↑ Novet, Jordan (30 June 2022). "Atlassian billionaire co-CEO Scott Farquhar saved a man's life at a Las Vegas nightclub in April". CNBC. Retrieved 1 July 2022.
  21. 1 2 3 "2015 Australia's 50 Richest". Forbes Asia. March 2015. Retrieved 10 June 2015.
  22. ↑ Richards, Ronelle (28 January 2016). "Atlassian co-founders Mike Cannon-Brookes and Scott Farquhar are the youngest Australians on Forbes Rich List while Gina Rinehart loses top spot". SmartCompany. Retrieved 9 June 2016.
  23. 1 2 Stensholt, John, ed. (29 May 2016). "BRW Rich 200 List 2016". Financial Review . Australia. Retrieved 9 June 2016.
  24. 1 2 "Rich List 2016". The Sunday Times . No. 44. 24 April 2016.
  25. 1 2 "2019 Australia's 50 Richest". Forbes Asia. January 2019. Retrieved 28 September 2019.
  26. 1 2 Bailey, Michael; Sprague, Julie-anne (26 May 2023). "The 200 richest people in Australia revealed". Australian Financial Review . Retrieved 6 June 2023.
  27. ↑ Stensholt, John, ed. (May 2013). "BRW Rich 200 List 2013". Financial Review . Australia. Retrieved 9 June 2016.
  28. ↑ "Gina Rinehart tops Forbes' Australian rich list". The Australian. AAP. 31 January 2013. Retrieved 9 June 2015.
  29. ↑ Stensholt, John, ed. (27 June 2014). "BRW Rich 200 List 2014". Financial Review . Australia. Retrieved 9 June 2016.
  30. ↑ Rollason, Adam (30 January 2014). "Rinehart on top, Palmer down on Forbes rich list". Financial Review. Australia. Retrieved 9 June 2015.
  31. ↑ Stensholt, John, ed. (May 2015). "BRW Rich 200 List 2015". Financial Review . Australia. Retrieved 9 June 2016.
  32. ↑ Stensholt, John, ed. (25 May 2017). "Financial Review Rich List 2017" . Financial Review . Retrieved 7 October 2019.
  33. ↑ "Australia's Richest 2017: Country's Wealthiest Continue Mining For Dollars". Forbes Asia. 1 November 2017. Retrieved 28 September 2019.
  34. ↑ Stensholt, John, ed. (25 May 2018). "2018 AFR Rich List: Who are Australia's richest people?". The Australian Financial Review . Retrieved 26 May 2018.
  35. ↑ Bailey, Michael (30 May 2019). "Australia's 200 richest people revealed". The Australian Financial Review. Nine Publishing. Retrieved 31 May 2019.
  36. ↑ Bailey, Michael; Sprague, Julie-anne (30 October 2020). "The full list: Australia's wealthiest 200 revealed" . The Australian Financial Review . Nine Publishing. Retrieved 31 October 2020.
  37. ↑ Bailey, Michael; Sprague, Julie-anne (27 May 2021). "The 200 richest people in Australia revealed". Australian Financial Review . Retrieved 28 May 2021.
  38. ↑ "Bloomberg Billionaires Index: Scott Farquhar". Bloomberg . Retrieved 25 May 2021.
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