Trello's ownership is the worst in the Nasdaq 100. Its founders dropped out of the 500 richest people

Shares of Australian software-as-a-service company Atlassian have plunged more than 48% since the start of the year amid a massive selloff in software developer stocks and are performing the worst in the Nasdaq 100 over that period, Bloomberg noted.

Such results Atlassian affected the condition of the company's founders - Michael Cannon-Brooks and Scott Farquhar - both since the beginning of the "software apocalypse" in February lost a combined total of about $7.2 billion in capital, or a third of their wealth, Bloomberg points out. Against the background of such indicators, both Cannon-Brooks and Farquhar dropped out of the Bloomberg 500 list of the world's richest people and became one of the top five "loser billionaires" in the software industry, after the three founders of the AppLovin advertising platform (they lost a combined total of about $16.4 billion in personal capital amid the "software apocalypse," according to Bloomberg estimates).

Cannon-Brooks' fortune, according to Bloomberg calculations, has lost 34.6 percent since the start of 2026; Farquhar's, 32.3 percent. The former's capital fell to $6.9 billion this week, the lowest level since 2019. Meanwhile, just over a decade ago, when Atlassian first went public, Cannon-Brooks, who was 30 at the time, became a billionaire and was one of Australia's richest tech CEOs at the time. In October 2021, the Atlassian co-founders were each valued at $27.7 billion in capital, Bloomberg points out.

Atlassian is known as the developer of software products such as Jira, Bitbucket and Confluence. In 2017, the company bought Trello, a project management application.

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