Mike Cannon-Brookes
Mike Cannon-Brookes | |
---|---|
![]() Cannon-Brookes in 2018 | |
Born | Michael Cannon-Brookes 17 November 1979 New Haven, Connecticut, U.S. |
Nationality | Australian |
Education | Cranbrook School |
Alma mater | University of New South Wales |
Occupation | Co-CEO of Atlassian |
Employer |
|
Known for | Co-founding Atlassian |
Board member of | Atlassian |
Spouse(s) |
Annie Todd
(m. 2010; sep. 2023) |
Children | 4 |
Awards |
|
Website | atlassian |
Michael Cannon-Brookes (born 17 November 1979) is an Australian businessman who is the co-founder and co-CEO of software company Atlassian.
Since 2018, he has been involved in the Australia-Asia Power Link, a huge electricity infrastructure project to be developed in the Northern Territory by Sun Cable in a collaboration with Twiggy Forrest.
Early life and education
Michael Cannon-Brookes was born on 17 November 1979,[1][2] the son of a global banking executive, also named Mike, and his wife, Helen.[3] He attended Cranbrook School in Sydney,[4] and graduated from the University of New South Wales[5] with a bachelor's degree in information systems on a UNSW co-op scholarship.[6][7]
Career
Cannon-Brookes co-founded Atlassian, a collaboration software company, of which he is co-CEO, with Scott Farquhar. The pair started the company in 2002, shortly after graduating from university, funding it with credit cards.[8] They have said they founded Atlassian with the aim of earning the then-typical graduate starting salary of A$48,000 at the big corporations without having to work for someone else.[9][10]
Their first major Atlassian product was Jira, an issue- and project-tracking software.[11] They decided to forgo the expense of hiring sales people, and instead spent their time and money on building a good product and selling it at a more affordable price via the Atlassian website.[11] As of 2016, the company still did not have a traditional sales force, investing instead in research and development.[12]
In 2005, they opened an office in New York, where most of their clients were.[11] Later in 2005 they moved the U.S. office to San Francisco,[13] which had a much larger pool of relevant technical talent.[11]
Their first external funding for Atlassian was a US$60 million round from Accel in 2010.[14] In 2014, they redomiciled the company to the UK, in advance of an initial public offering (IPO).[15]
Atlassian made its debut on the Nasdaq stock exchange in December 2015,[16] with a market capitalisation of $4.37 billion.[17] The IPO made Cannon-Brookes and Farquhar Australia's first tech startup billionaires and household names in Australia.[18][19][20]
Cannon-Brookes and Farquhar redomiciled Atlassian to the United States in 2022.[15] In March that year, Cannon-Brookes and billionaire Andrew Forrest invested in the Sun Cable project, to build a solar and battery farm 12,000 hectares (120 km2) in size at Powell Creek, Northern Territory, and a power-cable to link it to Singapore (via Indonesia) leaving Australia at Murrumujuk beach.[21][22] In January 2023, Sun Cable went into administration owing to disagreements between Cannon-Brookes and Forrest, and in May 2023, Cannon-Brookes' company Grok Ventures outbid Forrest and others to buy the liquidated company.[23][22]
Other activities
Climate activism
Cannon-Brookes is a major investor in green projects.[24]
In March 2017, following a series of power outages in South Australia, Cannon-Brookes challenged Tesla CEO Elon Musk on Twitter to deliver the Hornsdale Power Reserve Battery - the world’s biggest lithium-ion battery, within 100 days to solve the state’s energy problems.[25][needs update]
In October 2021, Cannon-Brookes pledged to donate and invest $1.5 billion on climate projects by 2030 to reinforce the COP26 goal of limiting global warming to 1.5 degrees above pre-industrial levels.[26]
Cannon-Brookes started Grok Ventures in 2016 as a private investing vehicle. In February 2024, it was announced that Grok Ventures had appointed Tan Kueh as CEO, and that the organisation was accepting third party capital to drive a bigger impact on climate change.[27]
Grok Ventures is focused on climate tech, venture and infrastructure, and lighthouse investments.
In March 2022, Cannon-Brookes (through Grok Ventures) and billionaire Andrew Forrest invested in the Sun Cable project, to build a solar and battery farm 12,000 hectares (120 km2) in size at Powell Creek, Northern Territory, and a power-cable to link it to Singapore (via Indonesia) leaving Australia at Murrumujuk beach. In January 2023, Sun Cable went into administration owing to disagreements between Cannon-Brookes and Forrest, and in May 2023, Grok Ventures outbid Forrest and others to buy the liquidated company.
In 2023, Grok Ventures purchased a majority stake in Australian publicly listed energy company AGL, Australia’s largest greenhouse gas emitter, in a move to force the company to de-carbonise more quickly.
Sports
In December 2020, Cannon-Brookes bought a minority stake in NBA team Utah Jazz, along with Qualtrics co-founder Ryan Smith.
In November 2021, Cannon-Brookes bought a one-third share of Blackcourt League Investments. Blackcourt owns 75% of the Australian Rugby League team, the South Sydney Rabbitohs.[28][29]
Other
Cannon-Brookes is an adjunct professor at the University of New South Wales' School of Computer Science and Engineering.[30]
In September 2020, it was revealed that Cannon-Brookes was listed on a Chinese Government "Overseas Key Individuals Database" of prominent international individuals of interest for China.
Personal life
Cannon-Brookes married American fashion designer Annie Todd in 2010, and they have four children together.[31][32] The couple first met at a Qantas lounge while flying from Sydney to San Francisco.[33] Cannon-Brookes and Todd lived in Sydney's eastern suburbs in Centennial Park.[10] In 2018 they bought Fairwater, Australia's most expensive house for approximately A$100 million, next door to Scott Farquhar's A$71 million Point Piper harbourside mansion, Elaine. Cannon-Brookes also acquired the 1923-built heritage residence Verona, designed by architect Leslie Wilkinson and located in Double Bay, for A$17 million.[34] The house previously belonged to New Zealand philanthropist Pat Goodman. Prior to that, in 2016, Cannon-Brookes had bought the A$7.05 million SeaDragon house, built in 1936, also designed by Wilkinson and updated by architect Luigi Rosselli.[35] His Centennial Park home sold for A$16.5 million.[36] In 2019 he purchased a house near Fairwater for A$12 million.[37] Cannon-Brookes separated from his wife Annie in July 2023.[31]
Recognition
Cannon-Brookes and Farquhar were recognised as Ernst & Young's 2006 Australian Entrepreneur of the Year.[38] He is a member of The Forum of Young Global Leaders.[6]
Net worth
In 2016, his net worth was estimated by Forbes on the list of Australia's 50 Richest people as US$1.69 billion;[39] by BRW Rich 200 as A$2.00 billion;[40] and by the Sunday Times Rich List as £906 million.[41] As of May 2023[update], the Australian Financial Review estimated his net worth was A$19.01 billion.[42] Meanwhile, in 2021, his net worth was assessed at US$13.7 billion by Forbes and at US$11.2 billion by Bloomberg.[43]
Year | BRW Rich 200 |
Forbes Australia's 50 Richest |
Sunday Times Rich List | |||
---|---|---|---|---|---|---|
Rank | Net worth (A$) | Rank | Net worth (US$) | Rank | Net worth (£) | |
2013[44][45] | 190 ![]() |
$0.25 billion ![]() |
n/a | not listed | ||
2014[46][47] | 35 ![]() |
$1.07 billion ![]() |
n/a | not listed | ||
2015[48][49] | 42 ![]() |
$1.14 billion ![]() |
25 ![]() |
$1.10 billion ![]() |
||
2016[40][39][41] | 18 ![]() |
$2.00 billion ![]() |
14 ![]() |
$1.69 billion ![]() |
£906 million ![]() | |
2017[50][51] | 17 ![]() |
$2.51 billion ![]() |
10 ![]() |
$3.40 billion ![]() |
||
2018[52] | 12 ![]() |
$5.16 billion ![]() |
5 ![]() |
|||
2019[53][54][55] | 6 ![]() |
$9.63 billion ![]() |
5 ![]() |
$6.40 billion ![]() |
||
2020[56] | 5 ![]() |
$16.93 billion ![]() |
||||
2021[57][43] | 3 ![]() |
$20.18 billion ![]() |
$13.70 billion ![]() |
|||
2022 | 3 ![]() |
$27.80 billion ![]() |
||||
2023[42] | 6 ![]() |
$19.01 billion ![]() |
Legend | |
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Icon | Description |
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Has not changed from the previous year |
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Has increased from the previous year |
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Has decreased from the previous year |
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