Scott Farquhar sells $760m in Atlassian shares as Cannon-Brookes takes lead
Atlassian co-founder Scott Farquhar is selling $760 million in shares, giving his co-founder Mike Cannon-Brookes more control.
Farquhar, who stepped down as co-chief executive in August 2024, says the share sale supports his Skip Foundation's climate and environment work. Scott Farquhar will sell 3.4 million shares, while Cannon-Brookes will acquire 2.5 million shares worth about $360 million by May 2027.
Mike Cannon-Brookes will now hold more Atlassian stock than Farquhar for the first time. Farquhar said his commitment to the company remains unchanged and he will stay as a board member and significant shareholder.
The company, founded in Sydney in 2002, has a global valuation of $39 billion. Atlassian shares rose 0.79 per cent on the announcement.
- $760 million
- Share sale value
- $39 billion
- Company valuation
- 3.4 million
- Shares Farquhar selling
- 2002
- Founded in Sydney
Why it mattersThe shift signals Farquhar's turn toward philanthropy and shows a major founder rebalancing his wealth and control at a global tech giant.
AustraliaOne of Australia's biggest success stories continues to shift leadership; Farquhar's move toward charitable work may redirect philanthropic capital toward climate and environmental causes in Australia.
Corroborated byThe Nightly
