Nick Molnar

Nick Molnar (born February 1990) is an Australian entrepreneur who is the co-founder of Afterpay.^[2]

Nick Molnar
Born	Nicholas Molnar February 1990 (age 35)[1]
Nationality	Australian
Education	Moriah College
Alma mater	University of Sydney
Occupation	FinTech entrepreneur
Known for	Co-founder of Afterpay
Spouse	Gabrielle Molnar ​ (m. 2015)​
Children	2

Early life and education

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

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]

Personal life

In November 2015, Molnar married Gabrielle^[11] 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.^[12][13] 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;^[14] that was subsequently sold to Rihanna for A$31 million.^[15] Molnar is Jewish.^{[citation needed]}

Net worth

In July 2022, Business Insider Magazine stated that Molnar was the youngest Australian "self-made" billionaire.^[16] In 2021, Molnar was selected as a Bloomberg New Economy Catalyst.^[17] As of May 2023^[update], The Australian Financial Review assessed Molnar's net worth at A$1.26 billion on the 2023 Rich List.^[18]

Year	Financial Review Rich List		Forbes Australia's 50 Richest
	Rank	Net worth (A$)	Rank	Net worth (US$)
2020[19]	50	$1.86 billion
2021[20]	38	$2.67 billion
2022	90	$1.50 billion
2023[18]	111	$1.26 billion

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