The Australian Financial Review’s annual Young Rich List is out for 2020 and, unsurprisingly, entrepreneurs and e-commerce sites have dominated the list once again this year.
One of those entrepreneurs is Greek Australian, Kayla Itsines. She, and her ex-fiance Tobi Pearce, were ranked 27 on the list and are worth an estimated $209 million.
The Adelaide locals remain joint owners of Sweat, the fitness empire they created in 2014, initially as an e-book workout guide. The value of the business and their substantial South Australian property portfolio has been split equally between them.
Sweat adapted quickly to the pandemic with shuttered gyms triggering the release of “no equipment” workouts. The app was also free for the month of April. The couple, who welcomed a baby girl last year, put their Adelaide home on the market in September.
Itsines and Pearce first stormed onto the Financial Review Young Rich List in 2018 with an estimated wealth of $486 million.
The list has been ranking the wealthiest self-made Australians aged 40 and under since 2003, and while this year’s list was dominated by the usual tech suspects like Atlassian’s Scott Farquhar and Afterpay’s Nick Molnar, there were a few new surprise entrants from other sectors including beauty founder and author, Zoë Foster Blake.
The AFR reports there was also an increase in women on the list compared to last year—12 made the list versus nine last year.
