Afterpay Co-Founder Nick Molnar has secured his place in history as Australia’s youngest self-made billionaire as of 2020.
The 30-year-old reached this newly-attained status when the buy-now-pay-later fintech company (ASX: APT) surpassed the $66 share price mark. Holding an 8.5% stake comprised of 20.5 million shares, this effectively brought the value of his position to $1.35 billion.
What’s more remarkable is the story of Afterpay’s triumphant return. When COVID-19 kicked off in earnest during March of this year, the share price dipped from almost $40 to around just $8. This recent rally to near $70, however, would certainly make up for any historic stress/heartache shareholders faced.
Molnar has narrowly beaten Canva’s Melanie Perkins and Cliff Obrecht, who were 31 when they reached this landmark figure. A little further back, Perkins and Obrecht had taken the throne from Atlassian’s Mike Cannon-Brookes and Scott Farquhar, who were 34 and 33 respectively. Given the trend of progressively younger billionaires popping up, who knows how fresh-faced the next titleholder will be.
In any case, massive congratulations are in order to Mr Nick Molnar. Though let’s be honest – with that account balance, he doesn’t need a damn thing from anybody; least of all a congrats from us.