Nathan Tinkler drops off BRW Young Rich list
MEN again dominate the list of Australia's 100 richest people aged under 40, with just seven women making the cut.
The 2013 BRW Young Rich list features 25 debutants, while former billionaire Nathan Tinkler represents the biggest departure.
Mr Tinkler, who is one of 25 people to drop off this year's list, was valued at $1.13 billion in the 2011 edition of BRW's Young Rich - the biggest valuation in its 11-year history - and is credited as the entrepreneur who has had the most impact on the list.
The mining entrepreneur, whose debt woes have been well-publicised, failed to make the $18 million cut-off for this year's list.
He has been knocked-off top spot by software entrepreneurs Mike Cannon-Brookes and Scott Farquhar with a combined wealth of $550 million.
Just behind this pair is low-profile technology investor Simon Clausen with a wealth of $350 million.
A big mover this year is Ruslan Kogan, whose wealth has grown to a staggering $315 million, lifting his ranking from eight to three.
His friend and co-owner of Kogan, David Shafer, is the highest debutant on this year's list with $75 million.
Technology not only takes out the top three places, but accounts for 32% of the list.
Sport is the next best represented sector, with 14 people.
The list also shows that for the "very young" - those aged under 30 - professional sport is the best way for a suitably talented person to get rich quick.
MotoGP rider Casey Stoner, 27, who has already retired from the sport, is the youngest person on this year's list - debuting at No.96 with wealth of $20 million.
Former Australian cricket captain Ricky Ponting makes his first appearance on the list.
Sports stars also dominate the Young Rich Hall of Fame - the people to have appeared on all 11 editions.
Just seven of these people remain on the list and include tennis players Lleyton Hewitt and Pat Rafter and golfer Karrie Webb.
Carolyn Creswell, whose well-established muesli company Carmans continue to grow, is the richest woman with $55 million and 34th overall.
Of the seven women to make the list, five appear for the first time including Karen Cariss and former Victoria's Secret model Miranda Kerr.
The recently separated wife of the billionaire James Packer, Erica Baxter, also joins the list and may rise next year when more details about her divorce emerge.
The other new women are Lilly Haikin (Max Brenner) and Tammy May (MyBudget), both of whom are responsible for well known brands.
BRW Editor James Thomson said this year's list was the most exciting group of entrepreneurs assembled in the 11-year history of the Young Rich.
"We've got the pioneers of technology and eCommerce. We've got the upstarts of retail and franchising. And as always, we've got glamour courtesy of the young stars of sport and entertainment," Mr Thomson said.
"What's particularly evident in the 2013 list is an awareness of the role the Young Rich are playing in Australia's entrepreneurial ecosystem. These are entrepreneurs who feel they have a responsibility to give back to their industries, their business community and their country. This generosity of spirit is one way which the Young Rich outshine their wealthy and older colleagues on the Rich 200."
BRW Young Rich list
- All of those who feature on the BRW Young Rich list have to be self-made - those who inherit most of their money are excluded from consideration - and have $18 million in net assets.
- Collectively, the BRW Young Rich are worth $5.13 billion with an average wealth of $50.13 million.
- Twenty-eight of this year's group live overseas - the most ever.
- The average age of those on the list is 36.14 years.
- Victoria is the most represented state on the list with 27 people.
- The top five industries on the list are technology (32 people), sport (14), retail (10), financial services (seven) and property (seven).