#2615

Nick Molnar

Australia 36 years old Self-Made

Overview

Source of Wealth
fintech
Residence
Sydney
Organization
Cofounder at Afterpay
Education
University of Sydney (Bachelor of Commerce)

Assets

  • Afterpay Limited
    0 shares @ -
    -
    APT-AU
  • Afterpay Limited
    1,500,000 shares @ -
    -
    APT-AU
  • Block Inc
    7,278,000 shares @ -
    -
    SQ2-AU

Biography

Nick Molnar cofounded Australian fintech startup Afterpay in 2015, which lets people pay for small items like dresses in 4 interest-free installments.

Before Afterpay, he had been Australia's top seller of jewelry on eBay, shipping thousands of packages a day.

Molar took his company public in April 2016, listing it on the Australian Stock Exchange; shares surged in 2020 during the pandemic but started declining on looming regulations.

U.S. payments firm Square acquired Afterpay for $29 billion in stock. It was relisted as Block Inc.

About

In March 2020, Afterpay agreed to pay $1 million to California regulators, who accused it of running an unlicensed lending business.

In response to the $1 million payment, Afterpay said in a statement, "Afterpay rejects the view that the Company operated illegally."