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AFR Young Rich List – How did the e-commerce rich listers do in 2022?

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By Published On: October 28, 20220 Comments

AFR released the 2022 Young Rich list today. The definitive list highlights Australia’s best and brightest next gen entrepreneurs, aged 40 and younger. We look at how the top ecommerce players compare to their performance on the 2021 list following a tumultuous past 12 months.

Ruslan Kogan: #23 $292m
In 2021, Ruslan Kogan was ranked the same at #23 on the Young Rich list with a net worth of $434m. In 2020 this number sat at $685m. This volatile wealth is reflected in the market in Kogan’s ASX listing. On this date in 2021, KGN was listed at $9.95, and today at time of publishing: $3.31. Going forward, Kogan is still faced with an oversupply of product as lockdown-induced demand has dwindled.

Dean Mintz: #27 $252m
Enigmatic Mintz debuted on the Young Rich list in 2021 at #12 with a net worth of $617m. He launched Cettire, a luxury goods ecommerce marketplace in 2017 which boomed as a result of the pandemic induced online migration. As consumers have made their way back to traditional retail, Mintz has felt the burn. Falling $1 million a day, Mintz’s wealth has taken an over $300m hit after shares in Cettire have fell more than 60 per cent.

Sean Senvirtne : #39 $155m
Senvirtne is one of the few on the list who has made his way up the ranks. In 2021 he sat at #59 with $99m. In 2020 he was listed with a whopping $231m, another result of the pandemic ecommerce boom. After record revenue of $65 million in 2021-22, Mydeal.com.au is now majority owned by Woolworths since September this year which appears to have contributed to the rise in the rankings. However, with Woolworths and Mydeal a very publicised target in a recent data breach, it will be interesting to track how this effects Senvirtne’s place in the Young Rich list in the year to come.

David Shafer: #43 $134m
Kogan CFO David Shafer has moved down the ranks by six places. 2021 saw him at #37 with a net worth of $171m. As with Ruslan Kogan, its been a volatile year with Kogan over predicting demand and having excess inventory to deal with.

Werner Liu: #47 $120m
Werner Liu’s place on the list shows the disparity between this year’s list and the last with a climb of six ranks up from #53 last year and the same net worth of $120m. Liu resigned from dropshipping giant New Aim in April last year. New ventures are yet to be determined but Liu is clearly sitting comfortably on his $101 million cash payout from former partner Fung Lam for his half of New Aim.

Jane Lu: #77 $53m
Jane Lu has championed the past year with a steady yet admirable rise up the rankings from #85 with $47m last year. Showpo has done well this year amidst logistics challenges. Innovative investments has seen Showpo embracing new technologies, signing up to trial with Meta to showcase clothing via AI technologies. Lu is one to watch as the youngest ecommerce player on the Young Rich list.

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About the Author: Rosalea Catterson

Rosalea is the Editor of Power Retail. With a keen interest in consumer behaviour and tech, she covers everything ecommerce and hosts the Power Retail Power Talks Podcast.

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