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The founders of tech scalability break the top 5 on the Sunday Times rich youth list

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With a fortune of £ 2.06 billion, Johnny Boufarhat is the richest person on the Sunday Times Young Rich List of people aged 30 and under in the UK.

At the age of 27, Sydney-born Boufarhat became Britain’s youngest self-taught billionaire last year thanks to the success of Hopin, the video conferencing app launched from his girlfriend’s London apartment in 2020.

The hyper-growing events platform was valued at £ 5.6 billion last year and raised an astonishing £ 750 million in funding.

It has gone from a few hundred event creators using its platform to hundreds of thousands of organizations, with millions of attendees showing up at events every month.

Writing candidly in 2020 following his £ 32 million Series A round, CEO Boufarhat revealed how a rare and severe reaction to drugs made him “allergic to the world” – and eventually led to Hopin.

Also in the top five of the Young Rich List are 30-year-old identical twins Oliver and Alexander Kent-Braham, founders of online car insurance Marshmallow.

Sharing a fortune of £ 455 million, the brothers are the richest newcomers. Valued at £ 900 million, Marshmallow last year became one of the first unicorns to be launched by British-born black entrepreneurs and it was 10th on ours InsurTech 50 classification.

The Kent-Brahams, who jointly own just over half of Marshmallow, studied at Reed’s, the paid school in Surrey where former UK tennis No. 1 Tim Henman was once a student. Although they both played tennis for Great Britain at the under 16 level, the twins gave up their dreams of becoming professionals to found Marshmallow.

By comparison, Manchester United French international Paul Pogba, 29, is the richest footballer on the list with a fortune of £ 77m.

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Christian Facey – co-founder of AudioMob, a tech company also launched in 2020 that develops in-game audio ads – ranks 15th on the Young Rich List alongside Manchester City and England star Raheem Sterling. Both are worth £ 50 million.

AudioMob has seen customer success with artists including Ed Sheeran and Nas along with brands like Intel, Jeep and KitKat.

“The Young Rich List was dominated by musicians and footballers. We are now finding a wave of 20-year-old entrepreneurs who have managed to quickly build fortunes through vlogging, esports and Instagram-friendly retailing, ”said Robert Watts, who compiles the Sunday Times Rich List.

“Not all of these business founders needed millions of pounds of investment or programming talent. Many have been able to create global businesses with little more than a phone, a laptop and an Instagram account – intuitive and easy-to-use technology that millions of people can access without breaking the bank. ”

The full Sunday Times Rich list will be available to digital subscribers of the newspaper and will be online at https://www.thetimes.co.uk/sunday-times-rich-list

The founders of tech scalability break the top 5 on the Sunday Times rich youth list

Source link The founders of tech scalability break the top 5 on the Sunday Times rich youth list

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