Scott Farquhar is one of the most successful and influential entrepreneurs in Australia. He is the co-founder and co-CEO of Atlassian, a software company that provides collaboration tools for teams around the world. He is also a philanthropist, an investor, and a climate change advocate. How did he go from a humble student with a credit card debt to a billionaire business magnate? Here is his story.
Table of Contents
- Scott Farquhar Net Worth
- Where He Was Born and Grew Up
- Scott Farquhar’s Wife and Children
- Scott Farquhar Relationship with Mike Cannon-Brookes
- His Major Achievements
Scott Farquhar Net Worth
Scott Farquhar has an estimated net worth of $12.9 billion as of September 2023, according to Forbes. He is the third-richest person in Australia and the 140th richest person in the world. He owns about 30% of Atlassian, which has a market value of more than $74 billion as of September 2023. He also has stakes in several tech startups, such as Canva, Airwallex, and Talkdesk, through his private investment fund, Skip Capital.
Where He Was Born and Grew Up
Scott Farquhar was born in December 1979 in Sydney, Australia. He grew up in Carlingford, New South Wales, where he attended Castle Hill Primary School and James Ruse Agricultural High School. He was interested in computers and programming from an early age, and taught himself how to code using books and magazines. He also participated in various competitions and hackathons, where he met his future business partner, Mike Cannon-Brookes.
Is Scott Farquhar Married? : Wife and Children
Scott Farquhar is married to Kim Jackson, who is also an entrepreneur and the founder of Skip Capital. They have three sons together, whose names and ages are not publicly disclosed. The couple is very private about their personal lives and rarely share photos or details of their family on social media. They live in Sydney, where they own two historic mansions: Elaine and Fairwater. They bought Elaine from the Fairfax family for $75 million in 2017, and Fairwater from the same family for $100 million in 2018. They are reportedly planning to renovate both properties and make them more sustainable.
Scott Farquhar Relationship with Mike Cannon-Brookes
Scott Farquhar met Mike Cannon-Brookes at the University of New South Wales, where they both studied information systems on a scholarship. They became friends and decided to start a company together after graduating in 2001. They had a simple goal: to earn more than $48,500 a year, which was the average salary for graduates at that time, without having to work for someone else. They named their company Atlassian, after the Greek titan Atlas who held up the sky on his shoulders. They funded their startup with a $10,000 credit card debt and worked from their bedrooms.
Atlassian’s first product was Jira, a bug-tracking software that they developed for their own use. They soon realized that there was a demand for such a tool among other software developers, so they started selling it online at a low price. They adopted a no-sales model, relying on word-of-mouth and online marketing to attract customers. They also created other products, such as Confluence (a team collaboration software), Bitbucket (a code hosting service), and Trello (a project management app).
Atlassian grew rapidly and became profitable without raising any external funding until 2010, when they received $60 million from venture capital firm Accel Partners. In 2015, they went public on the Nasdaq stock exchange, raising $462 million in their initial public offering. Today, Atlassian has more than 260,000 customers worldwide, including some of the biggest names in media, manufacturing, and technology. It has over 6,000 employees across 14 offices in nine countries.
Scott Farquhar and Mike Cannon-Brookes have remained co-founders and co-CEOs of Atlassian since its inception. They share the same vision, values, and culture for their company. They are also close friends who trust and respect each other. They have been described as “two sides of the same coin” by their colleagues and peers.
His Major Achievements
Scott Farquhar has achieved many milestones and accolades throughout his career. Some of his notable achievements are:
- In 2004, he won the Australian Consensus IT Professional of the Year award with Mike Cannon-Brookes.
- In 2006, he became the youngest person ever to receive the Ernst & Young Australian Entrepreneur of the Year award with Mike Cannon-Brookes.
- In 2011, he was named a Young Global Leader by the World Economic Forum.
- In 2016, he was appointed as an adjunct professor at the School of Computer Science and Engineering of the University of New South Wales.
- In 2018, he was included in the Time 100 list of the most influential people in the world.
- In 2019, he was awarded an honorary doctorate by the University of New South Wales.
- In 2020, he was named a Companion of the Order of Australia, the highest civilian honor in the country, for his service to the technology sector and philanthropy.
Scott Farquhar is also a passionate advocate for climate change action and renewable energy. He has invested in several projects and initiatives that aim to reduce greenhouse gas emissions and promote clean energy sources. Some of these include:
- The Sun Cable project, which plans to build a massive solar and battery farm in the Northern Territory and export electricity to Singapore via an underwater cable.
- The Australia-Asia Power Link, which aims to connect Australia’s renewable energy resources with Asia’s growing energy demand.
- The Resilient Energy Collective, which provides off-grid solar and battery solutions to communities affected by bushfires and blackouts.
- The Climate Pledge, which commits to achieving net-zero carbon emissions by 2040.
Scott Farquhar is also a generous philanthropist who supports various causes and organizations. He is a co-founder of Pledge 1%, which urges companies to donate at least 1% of their equity, employee time, or products to charity. He has also donated millions of dollars to causes such as education, health, social justice, and wildlife conservation. Some of his notable donations include:
- $70 million to fund a new innovation precinct at the University of New South Wales.
- $50 million to create a scholarship program for disadvantaged students at public schools.
- $40 million to establish a new institute for mental health research at the University of Sydney.
- $20 million to support bushfire relief and recovery efforts in Australia.
- $10 million to help save the endangered Tasmanian devil from extinction.
Scott Farquhar is an inspiration to many aspiring entrepreneurs, innovators, and leaders. He has shown that with a vision, a passion, and a credit card, anything is possible. He has also demonstrated that success comes with responsibility and generosity. He has made a positive impact on the world through his business, his investments, his advocacy, and his philanthropy. He is truly one of Australia’s greatest achievers.
