Atlassian’s Cannon-Brookes couple drops $24 million on Dunk Island
The wealthy Mike Cannon-Brookes and his wife Annie have just added to their burgeoning property portfolio with the purchase of Dunk Island on Queensland’s Great Barrier Reef for $23.65 million. Once a glittering resort town, the island fell into disrepair more than a decade ago when it was hit by a cyclone, but the Cannon-Brookes have declared their intention to revitalize the tropical paradise.
Located 4 kilometers off the coast near Mission Beach, Dunk Island covers a total of 147 hectares and is one of the best private island properties on Australia’s east coast. The Dunk Island purchase is believed to have been led by Annie Cannon-Brookes and represents the first foray into the region for Australia’s third richest couple, following their 2021 purchase of Fairwater at Point Piper in Sydney Harbor for 100 millions of dollars.
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At 42, Mike Cannon-Brookes made his money as co-founder and co-CEO of Sydney-based tech giant Atlassian, which generated revenue exceeding $3.1 billion in 2021. Cannon-Brookes is also co-owner of the Utah Jazz NBA team and currently the largest shareholder of energy giant AGL.
Dunk Island has seen devastating cyclones, both during Cyclone Larry in 2006 and Cyclone Yasi in 2011. Since 2011, the 160-room hotel and 9-hole golf course have both been closed to the public, which which could change. under the ownership of the Cannon-Brookes family.
Just as Mike Cannon-Brookes is passionately driven by environmental concerns, which he has used his majority shareholder position at AGL to express, Annie is also deeply driven by sustainable causes. This is said to have motivated the purchase of Dunk Island, with a spokesperson confirming: “Annie purchased the land with the intention of preserving its natural beauty for years to come”.
Mr. and Mrs. Cannon-Brookes appear to be out shopping. Last year they bought a $13million property in NSW’s Southern Highlands known as Wattle Ridge Farm two months after they acquired luxury weekends in Newport and Pittwater’s Scotland for $25million Island. It was quite the addition to an ever-growing real estate portfolio, which was then valued at around $290 million in total.
Admittedly, $13 million, $25 million, or even $290 million is a drop in the ocean when you have a net worth over $27 billion (and when you rank # 3 on the AFR Rich list). Still, you can see why the very notion of one person amassing so much real estate — including over $250 million in the last three years alone — would be mind-boggling. It’s to the point where some speculate that Cannon-Brookes may be keeping what is perhaps the largest collection of private homes, weekends, and farms in the nation for personal use.
“There have been individuals who over the years have owned as many as six or seven residences in Sydney,” said Bill Malouf, LJ Hooker Double Bay’s high-profile estate agent.
“But I don’t think anyone comes close to that amount of personal property.”
You are right, sir.