Accidental Billionaires: How two 37-year-old coders got rich by USD 700 million each in just one day
Aussie programmers, Mike Cannon-Brookes and Scott Farquhar’s net worth rose by a combined USD 1.4 billion in last 24 hours
Who wouldn’t love be in the shoes of Mike Cannon-Brookes and Scott Farquhar? These two programmers from down under made just over 1.4 billion in last 24 hours after their company Atlassian’s stock price zoomed up 25 percent on Nasdaq after it announced its first-quarter report unveiled last week showed a YoY revenue growth of 42 percent and strong earnings projections.
Called the accidental billionaires in Australia Mike and Scott started Atlassian so that they could avoid working as programmers under somebody. Their basic aim when they started Atlassian was to earn typical coder’s salary of around A$48,000 graduate starting salary typical at the big tech corporations without having to work as coders for them.
And then fate changed for both Scott and Mike when the two programmers decided to list Atlassian on Nasdaq. On 10 December 2015 Atlassian made its initial public offering (IPO) on the NASDAQ stock exchange under the symbol TEAM, putting the market capitalization of Atlassian at $4.37 billion.
Scott and Mike’s software company develops products for software developers, project managers, and content management. It is best known for its issue tracking application, Jira, and its team collaboration and wiki product, Confluence. Atlassian serves over 60,000 customers, best among the lot are Tesla, SpaceX, Spotify and every Ivy league University.
Cannon-Brookes and Farquhar own around three-fifths of the business shares between them and each of them gained around USD 700 million in terms of profit in their personal kitties.
Both the techies are presently estimated to have around USD 3.4 billion apiece, as per Forbes real time rankings of the world’s richest people. This is a USD 900 million jump from their previously estimated fortune of USD 2.6 billion in May.
With this kind of earnings forecasts, Mike and Scott may soon overtake Bill Gates as the top billionaire on Earth. Let’s hope and wish Mike and Scott for the same.