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What is Scott Farquhar’s Net Worth?
Scott Farquhar, an Australian entrepreneur and co-founder of the software company Atlassian, has an estimated net worth of $11 billion. Farquhar’s wealth primarily stems from his substantial stake in Atlassian, a company he co-founded with Mike Cannon-Brookes in 2002. The company, which specializes in software development and project management tools, has grown exponentially, boasting over 260,000 customers and generating $3.5 billion in revenue for the fiscal year ending June 30, 2023.
Farquhar and Cannon-Brookes initially aimed to earn a modest income of $48,000 annually without working for someone else. However, their venture into the tech industry proved to be far more lucrative. Atlassian’s success has been marked by several milestones, including a $60 million investment from Accel Partners in 2010 and a $462 million initial public offering (IPO) in 2015, which valued the company at over $4 billion.
Throughout his career, Farquhar has received numerous accolades, including being named Ernst & Young’s Entrepreneur of the Year in Australia in 2006.
His influence extends beyond Atlassian, as he is also an active investor in tech startups through his investment fund, Skip Capital, and a mentor to aspiring entrepreneurs.
Here’s the breakdown of Scott Farquhar’s net worth:
Name: | Scott Farquhar |
Net Worth: | $11 Billion |
Date of Birth: | December 1979 |
Profession: | Businessperson |
If you’re curious about how we estimate a celebrity’s net worth, you can check out our methodology here.
Early Life
Scott Farquhar was born in December 1979 in Sydney, Australia, into a working-class family. As a child, Farquhar developed a keen interest in computers, but his family’s financial situation made it challenging to acquire one.
He recalls emotionally persuading his parents to buy him a computer, which they eventually did, although it was outdated and unable to play the games he wanted.
Farquhar attended James Ruse Agricultural High School, where he excelled academically. A pivotal moment in his education came when he received his first non-A grade in his 6th year of school. This experience taught him a valuable lesson about not “phoning it in” and pushing himself to achieve his full potential.
Career
Farquhar met Mike Cannon-Brookes at the University of New South Wales while pursuing a Bachelor of Science in Business Information Technology. In 2002, fresh out of university, they co-founded Atlassian with the initial goal of earning a modest $48,500 annual salary without working for someone else.
Atlassian’s growth was remarkable. The company bootstrapped its operations initially, financing the startup with a $10,000 credit card debt. Their first major product, Jira, an issue-tracking software, gained traction quickly.
Farquhar and Cannon-Brookes made the unconventional decision to forgo a traditional sales force, instead focusing on building quality products and selling them at affordable prices through their website.
The company’s success led to significant milestones, including a $60 million investment from Accel Partners in 2010 and a $462 million initial public offering (IPO) in 2015, which valued Atlassian at over $4 billion.
As of 2024, Atlassian has more than 260,000 customers worldwide and reported revenue of $3.5 billion for the fiscal year ending June 30, 2023. Farquhar’s 20% stake in Atlassian forms the cornerstone of his estimated $11 billion net worth.
Personal Life
Scott Farquhar is married to Kim Jackson, who runs Skip Capital, Farquhar’s privately held investment fund. The couple has three sons and resides in Sydney, Australia.
Farquhar’s wealth has allowed him to make significant personal investments. In 2017, he purchased “Elaine,” the Fairfax family’s former ancestral Sydney harbourside home, for approximately A$75 million. This historic property, set on 6,986 square meters, had been in the Fairfax family’s ownership since 1891.
Despite his immense wealth, Farquhar is known for his philanthropic efforts and commitment to giving back to the community. He is a co-founder of the Pledge 1% movement, which encourages companies to donate 1% of their equity, profit, or employee time to philanthropy. Farquhar and his wife are also actively involved in various charitable causes, focusing on education, technology, and environmental sustainability.
In April 2024, Farquhar announced his decision to step down as co-CEO of Atlassian to focus more on his family, philanthropy, and mentoring other tech CEOs.
Ashley Roberts is the founder of Real-Time Billionaires List. She founded this platform because she likes to know how much celebrities are actually making. She is always curious why these people can make much more money than the ordinary person.
With a Bachelor’s degree in finance, she is skilled at financial analysis and understands numbers related to wealth. Most of the articles on this site are edited by herself before publishing.
