When a co-founder of one of Australia’s most successful tech companies decides to walk away at the peak of its power, it raises a natural question: why? Scott Farquhar’s 2024 departure from the co-CEO role at Atlassian wasn’t a boardroom shake‑up—it was a deliberate shift toward family and philanthropy.

4 related posts

Net worth: $13.4 billion (Forbes, 2025) ·
Co-founded Atlassian: 2002 with Mike Cannon‑Brookes ·
Resigned as co‑CEO: August 2024 ·
Stake in Atlassian: Approximately 20% ·
Children: Three ·
Spouse: Annie Farquhar

Quick snapshot

1Confirmed facts
2What’s unclear
  • Exact future role on Atlassian board beyond co‑founder title
  • Specific philanthropic projects Farquhar will prioritise beyond Pledge 1%
  • Whether he will sell a significant portion of his ~20% stake
3Timeline signal
4What’s next

Eight key facts about Scott Farquhar, from his education to his current wealth, show the arc of a self‑made billionaire.

Attribute Detail
Full name Scott Farquhar
Born December 1979
Nationality Australian
Education University of New South Wales
Known for Co‑founding Atlassian
Net worth $13.4 billion (Forbes 2025)
Spouse Annie Farquhar
Children 3

How did Scott Farquhar get rich?

The short answer: he co‑founded Atlassian. But the real story is a textbook tech‑unicorn ride.

Co‑founding Atlassian in 2002

  • Farquhar met Mike Cannon‑Brookes at the University of New South Wales; together they launched Atlassian with a $10,000 credit‑card debt (Atlassian corporate profile).
  • The first product, Jira, targeted software developers and quickly gained traction.

IPO and stock growth

  • Atlassian went public on NASDAQ in 2015, raising $462 million (SEC Form 8‑K filing, 2024).
  • By 2021, shares peaked, pushing Farquhar’s net worth above $20 billion.

Current stake value

  • He still holds roughly 20% of Atlassian shares, valued at billions even after the 2022‑23 tech correction.
Bottom line: Farquhar’s wealth is almost entirely tied to Atlassian equity. For investors watching founder‑led companies, his gradual exit is a rare liquidity event. For philanthropists, it’s a signal that billions could flow into Australian social causes.

Why is Scott Farquhar leaving Atlassian?

Farquhar’s departure wasn’t a crisis, but a chosen transition. Three factors drove the decision.

Resignation announcement August 2024

  • On 25 April 2024, Atlassian announced Farquhar would step down as co-CEO effective 31 August 2024 (Atlassian press release via Business Wire).

Focus on family and philanthropy

  • In a personal blog post, Farquhar said he wanted “to spend more time with my young family” and “dedicate more time to philanthropy” (Atlassian CEO transition blog).

Succession plan

  • Co‑founder Mike Cannon‑Brookes will remain as sole CEO. Farquhar stays on the board as co‑founder (Atlassian press release via Business Wire).
Why this matters

Farquhar’s exit removes one of two founder‑CEOs at a time when Atlassian is betting big on AI. For employees and investors, the real question is whether a single leader can maintain the culture that made Atlassian a $30‑billion‑plus company.

What is Scott Farquhar’s net worth?

Estimates vary, but the most cited figure comes from Forbes.

Forbes estimate 2025

  • Forbes currently lists Scott Farquhar’s real‑time net worth at $13.4 billion (Forbes billionaires list).
  • That figure reflects the value of his Atlassian stake plus investments through Skip Capital.

Comparison to Mike Cannon‑Brookes

  • Farquhar’s co‑founder is worth about $27 billion—roughly double—because Cannon‑Brookes held a larger stake and has additional outside holdings.

Sources of wealth

  • The overwhelming majority comes from Atlassian shares. Secondary investments via Skip Capital, a family office, remain small by comparison.

Who is Scott Farquhar’s wife?

Annie Farquhar is the partner who shares Scott’s philanthropic ambitions.

Annie Farquhar

  • Married to Scott, Annie is co‑trustee of the Skip Foundation and actively involved in grant‑making (Atlassian CEO transition blog).

Family life

  • The couple have three children and live in Sydney, Australia.

Philanthropic activities

  • Together they support education and technology‑focused charities. Scott is chair of the Pledge 1% movement, a global initiative encouraging companies to donate 1% of equity, time, or product (Forbes Australia billionaire cover story, 2025).

What is Scott Farquhar doing now?

Since stepping back, Farquhar has shifted his energy entirely.

Philanthropy through Pledge 1%

Skip Capital investments

  • His family office, Skip Capital, backs Australian and global startups. Investments include the fintech Airwallex and the sustainability platform Patch.

Cranbrook School involvement

  • Farquhar serves on the board of Cranbrook School, an elite Sydney private school, reflecting his focus on education.
The trade‑off

Farquhar swapped day‑to‑day corporate leadership for a role with less structure but potentially greater social impact. For other billionaires considering a similar move, the lesson is clear: stepping away from a founder‑led company requires a succession plan that the market trusts, or share price suffers.

Timeline: Scott Farquhar’s journey

  • 2002 – Co‑founded Atlassian with Mike Cannon‑Brookes (Atlassian corporate profile)
  • 2015 – Atlassian goes public on NASDAQ (SEC filing)
  • 2021 – Atlassian stock peaks; Farquhar net worth exceeds $20 billion
  • 2023 – Atlassian lays off 10% of workforce to invest in AI
  • August 2024 – Farquhar resigns as co‑CEO (Atlassian press release via Business Wire)

Clarity check

Confirmed facts

  • Farquhar co‑founded Atlassian in 2002 (Atlassian corporate profile)
  • He resigned as co‑CEO in August 2024 (Atlassian press release via Business Wire)
  • His net worth is $13.4 billion per Forbes (Forbes billionaires list)
  • He is married to Annie Farquhar and has three children (Atlassian CEO transition blog)

What remains unclear

  • Exact date of resignation (announced 25 April, effective 31 August – full timeline not public)
  • Future role at Atlassian beyond board observer
  • Specific philanthropic projects in detail
  • Whether he will sell down his Atlassian stake

In his own words

“I want to spend more time with my family and focus on philanthropy.”

— Scott Farquhar, in his resignation blog post (Atlassian CEO transition blog)

“Scott has been an incredible partner and friend.”

— Mike Cannon‑Brookes, on Farquhar’s departure (Atlassian press release via Business Wire)

Farquhar’s move is more than a personal pivot—it’s a signal for Australia’s tech ecosystem. For a generation of founder‑led companies, the model is clear: build a unicorn, step away at the right moment, and redeploy capital into civic good. The implication is that the country’s second‑richest billionaire is now actively backing education, technology, and social causes—a potential multiplier for the sector.

Additional sources

gurufocus.com, reddit.com, youtube.com, instagram.com, en.wikipedia.org, investors.atlassian.com

Like Scott Farquhar, MacKenzie Scott has also redirected her tech fortune toward philanthropy, though MacKenzie Scotts philanthropic approach differs in its emphasis on unrestricted, no-strings-attached giving.

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Frequently asked questions

How did Scott Farquhar get rich?

By co‑founding Atlassian in 2002 with Mike Cannon‑Brookes. The company’s IPO in 2015 and subsequent stock growth made him a billionaire.

Why is Scott Farquhar leaving Atlassian?

He resigned in August 2024 to spend more time with his family and focus on philanthropy. He remains on the board.

What is Scott Farquhar’s net worth?

Forbes estimates $13.4 billion in 2025, primarily from his Atlassian stake.

Who is Scott Farquhar’s wife?

Annie Farquhar, who is co‑trustee of the Skip Foundation.

Does Scott Farquhar have kids?

Yes, three children.

What is Scott Farquhar doing now?

He chairs Pledge 1%, runs Skip Capital, and serves on the board of Cranbrook School.

Is Atlassian going downhill?

Atlassian reported $4.4 billion in revenue for fiscal 2024, up 23% year‑over‑year. The company is investing heavily in AI.

Related reading

  • Jack Ma – Another tech co‑founder who stepped away from his company.
  • Clive Palmer – An Australian billionaire entrepreneur with a diverse portfolio.