Why Cannon-Brookes, Farquhar are down $15b in just two months

Atlassian co-founders Mike Cannon-Brookes and Scott Farquhar have suffered the largest falls in valuations of the top 200 wealthiest Australians since this year’s Rich List cut-off, down a combined $15.4 billion in only two months.

Mr Cannon-Brookes and Mr Farquhar appeared on this year’s Rich List, valued at $24.4 billion and $22.9 billion respectively, but they are now estimated to be worth $16.7 billion and $15.2 billion – lower than their 2023 valuations following the investor rotation out of tech in 2022.