Atlassian founders Scott Farquhar and Mike Cannon-Brookes have been jointly named the richest Australians under the age of 41, with a combined wealth of $480 million.
The entrepreneurial duo bumped mining magnate Nathan Tinkler off the top of BRW's Young Rich List for 2012. Farquhar and Cannon-Brookes ranked fourth on the list with $360 million last year.
Of the 100 named on BRW's 2012 list, 24 members came from the technology sector.
PC Tools founder Simon Clausen was fourth with $230 million; Ruslan Kogan, eighth with $145 million; and Freelancer.com founder Matt Barrie made the list for the first time with a net worth of $50 million.
Last year's richest young Australian, Tinkler, suffered a $730 million drop in his net worth, down from the record $1.13 billion that helped propel him to top spot last year.