Afterpay’s Molnar Backs Start-Ups
Afterpay co-founder and Australia’s youngest self-made billionaire, Nick Molnar, is pouring an estimated $2.2 billion personal fortune into Australian start-ups.
Recipients have included online checkout platform Fast, social media start-up Linktree and trading app Superhero.
The co-founder of the ASX-listed buy-now, pay-later (BNPL) giant and his wife Gabrielle Molnar, spent around $45 million for their home and an adjacent block of flats in Bondi, but have turned their attention to fast growing local start-ups.
The majority of the couple’s wealth is held in Afterpay stock, which has dropped more than 20 percent this year to $91.89 a share.
The latest round of investments has been made directly by Molnar, rather than through Afterpay’s venture arm, Afterpay Ventures.