The stock market crash caused Atlassian billionaire's wealth to shrink by one third
Due to the global stock market sell-off affecting industries threatened by artificial intelligence (AI), Michael Cannon-Brookes and Scott Farquhar have seen their wealth shrink by approximately $7.2 billion this year, a decline of one-third.
Atlassian's stock price has plummeted by 50% this year, making it the worst-performing stock in the NASDAQ-100 index. As a result, the two founders have fallen out of the top 500 of the Bloomberg Billionaires Index.
Despite the wealth decline, Cannon-Brookes remains optimistic about the impact of AI, stating that "AI is one of the best things that has happened to Atlassian" and that the company will continue to invest heavily in AI research and development
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