Nick Molnar
Nick Molnar | |
|---|---|
| Born | Nicholas Molnar February 1990 (age 36)[1] |
| Education | Moriah College |
| Alma mater | University of Sydney |
| Occupation | FinTech entrepreneur |
| Known for | Co-founder of Afterpay |
| Spouse |
Gabrielle Molnar (m. 2015) |
| Children | 2 |
Nick Molnar (born February 1990) is an Australian entrepreneur who is the co-founder of Afterpay.[2]
Early life and education
[edit | edit source]While attending Sydney's Moriah College,[3] as a student, Molnar began selling jewellery on eBay, ultimately becoming the top Australia jewellery seller on the site. Molnar persuaded Ice.com, a U.S. online jeweler to let him launch iceonline.com.au. He eventually grew the business to A$2 million in annual revenue.[4]
He graduated with a Bachelor of Commerce from the University of Sydney.[5]
Afterpay
[edit | edit source]In 2014, Molnar began working with Anthony Eisen to develop Afterpay, a consumer lending company that would allow consumers to purchase items up to $1000 and pay in four interest-free instalments.[4] Late charges would accrue beginning after a payment is missed, with interest and fees capped at 25% of an item's price. Retailers are charged 4-6% for every transaction.[4]
In August 2021 Afterpay and Square, Inc. (later renamed Block, Inc. in December 2021), a digital payments company, announced they had entered into arrangements for Square to acquire Afterpay for US$29 billion (A$39 billion) which was completed on 31 January 2022.[6][7][8][9] Molnar and Eisen received US$2.7 billion in Square stock for their Afterpay shares and, post-settlement, they jointly led Afterpay’s merchant and consumer businesses inside Square.[6][10] Eisen subsequently exited the business; while Molnar became Block's global head of sales.[11]
Personal life
[edit | edit source]In November 2015, Molnar married Gabrielle[12] and they have two children. In 2020 Nick and Gabrielle Molnar purchased a North Bondi property for approximately A$27 million; and subsequently acquired an adjoining property the following year for A$18.5 million.[13][14] In November 2022 it was reported that Molnar was intending to sell an 864-square-metre (9,300 sq ft) Los Angeles apartment for A$43 million;[15] that was subsequently sold to Rihanna for A$31 million.[16] Molnar also owns a 6.3-hectare (16-acre) rural property with three dwellings, located in Bowral.[17] Molnar is Jewish.[18]
Net worth
[edit | edit source]In July 2022, Business Insider Magazine stated that Molnar was the youngest Australian "self-made" billionaire.[19] In 2021, Molnar was selected as a Bloomberg New Economy Catalyst.[20] As of May 2025[update], The Australian Financial Review assessed Molnar's net worth at A$1.11 billion on the 2025 Rich List.[21]
| Year | Financial Review Rich List |
Forbes Australia's 50 Richest | ||
|---|---|---|---|---|
| Rank | Net worth (A$) | Rank | Net worth (US$) | |
| 2020[22] | 50 
|
$1.86 billion
|
||
| 2021[23] | 38 
|
$2.67 billion
|
||
| 2022 | 90
|
$1.50 billion
|
||
| 2023[24] | 111
|
$1.26 billion
|
||
| 2024[25] | $1.40 billion
|
|||
| 2025[21] | 151
|
$1.11 billion
|
||
| Legend | |
|---|---|
| Icon | Description |
|
Has not changed from the previous year |
|
|
Has increased from the previous year |
|
|
Has decreased from the previous year |
References
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- ^ "'The secret fairy dust' that helped Afterpay go from zero to $39b in Australia's biggest ever corporate takeover". ABC News. 3 August 2021. Retrieved 11 December 2024.
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