By Blair Jackson
Publication Date: 2026-03-25 01:14:00
Australian tech expert Mike Cannon-Brookes’ fortune has been slashed by about $1 billion as AI from Amazon and Anthropic threatens Sydney-based Atlassian’s flagship software.
Atlassian’s share price slumped during Tuesday trading on Wall Street, falling 8.4 percent on fears that AI being developed by Anthropic and Amazon could make more office jobs redundant – adding to worries that led to the Australian software giant cutting a tenth of its global workforce (1,600 jobs) earlier this month.
The Australian-American company’s share price has fallen by 70 percent in the past year. Mr Cannon-Brookes and co-founder and former chief executive Scott Farquhar have seen their combined wealth fall by $35 billion this year. Each owns 20 percent of Atlassian and both have slipped out of Australia’s top 10 rich list.
This latest investor jitters were sparked by Amazon Web Services developing an AI agent for sales and business development tasks.
Users of the San Francisco-based Anthropic…
