Mike Cannon-Brookes
Business

Mike Cannon-Brookes lends Sun Cable $65 million to keep the show on the road as its administrators look for a buyer

- January 24, 2023 2 MIN READ

Atlassian cofounder and billionaire investor Mike Cannon-Brookes has lent Sun Cable, the startup behind a $30 billion project to send solar power to Singapore, $65 million to keep operating as the company’s voluntary administrators look to sell the business. Cannon-Brookes is making the no interest loan through his family venture capital firm, Grok Ventures after… Read more »

Mike Cannon-Brookes
Business

The $30 billion Sun Cable project hits voluntary administration amid falling out between billionaire backers Mike Cannon-Brookes and Andrew Forrest

- January 12, 2023 2 MIN READ

A $30 billion project to send solar-generated power made in Australia to Singapore has been placed in voluntary administration (VA) amid a reported falling out between its key backers, the tech and mining billionaires Mike Cannon-Brookes and Dr Andrew Forrest. Cannon-Brookes and Forrest are cornerstone investors in Singapore-based Sun Cable – the Atlassian co-founder through his private… Read more »

ASX

Mike Cannon-Brookes just had a massive win in his battle for the soul of energy giant AGL

- November 15, 2022 2 MIN READ

Renewable energy activist Mike Cannon-Brookes has succeeded in his campaign to shake up the board of energy giant AGL with shareholders voting at today’s annual general meeting to appointment four new directors to the AGL board on the recommendation of the Atlassian cofounder’s family VC firm, Grok Ventures. Former Energy Security board chair Kerry Schott,… Read more »

Mike Cannon-Brookes
ASX

Mike Cannon-Brookes doesn’t rule out 3rd AGL takeover bid amid board seats push

- May 31, 2022 2 MIN READ

Atlassian founder Mike Cannon-Brookes is looking for a place at the AGL board table after routing the company’s CEO and chairman and derailing the company’s demerger plan, and may make a third takeover bid for Australia’s biggest energy supplier. Cannon-Brookes spent around $650 million through his family venture capital firm, Grok Ventures, to take an… Read more »

Climate Tech

GASLIGHTED: Mike Cannon-Brookes scores emphatic win as AGL dumps demerger plan. So what happens next?

- May 30, 2022 4 MIN READ

Billionaire Mike Cannon-Brookes has won a major battle against Australia’s biggest energy company, AGL Energy, thwarting its plan to split up the company’s coal-heavy generation and power distribution assets. AGL’s board announced it was dumping its demerger proposal this morning. Heads have rolled too. Chief executive Graeme Hunt, chairman Peter Botten and non-executive director Jacqueline… Read more »

People

Time declares Mike Cannon-Brookes as one of the world’s top 100 influential people

- May 24, 2022 2 MIN READ

Time Magazine has named Atlassian co-founder and co-CEO Mike Cannon-Brookes as one of the 100 most influential people of 2022.   The tech entrepreneur and net zero advocate is listed among 18 people, including former Google ethical AI computer scientist Timnit Gebru, and New Zealand film director Taika Waititi, in the innovators category. Apple CEO… Read more »

ASX

Mike Cannon-Brookes launches campaign against AGL’s demerger after Grok Ventures buys 11.3% of the energy giant

- May 2, 2022 2 MIN READ

Atlassian co-founder Mike Cannon-Brookes has wasted no time in becoming an activist shareholder after taking an 11.3% stake in energy giant AGL. The billionaire launched a campaign with the slogan “Keep it together” to oppose AGL’s plans for a demerger, creating two separate ASX-listed companies, just hours after news emerged that he’d become AGL’s largest… Read more »

5b solar panels
Funding

Cannon-Brookes, Twiggy Forrest double down on $30bn Sun Cable project in $210 million Series B

- March 14, 2022 2 MIN READ

Tech and mining billionaires Mike Cannon-Brookes and Dr Andrew Forrest have ramped up their support for a $30 billion project to supply solar power from the Australia to Singapore, leading a $210 million Series B round into Sun Cable. Singapore-based Sun Cable’s $30 billion plan was first revealed in 2019, with Cannon-Brookes and Forrest as cornerstone… Read more »

Politics

Why Australian politicians should welcome the AGL takeover plan by Mike Cannon-Brookes

- February 25, 2022 4 MIN READ

Prime Minister Scott Morrison has flatly opposed the bid led by tech billionaire Mike Cannon-Brookes to buy Australia’s biggest energy company AGL and spend A$20 billion switching it to renewables. This includes closing its coal power stations by 2030. As Morrison stated this week: We need to ensure that our coal-fired generation of electricity runs… Read more »

Mike Cannon-Brookes
Other tech

Mike Cannon-Brookes tips $200 million into renewables finance company Infradebt

- February 23, 2022 2 MIN READ

Atlassian co-founder Mike Cannon-Brookes has backed renewables funding firm Infradebt with $200 million from his private family VC firm Grok Ventures. The funding announcement emerged less than 48 hours after Cannon-Brookes had a $5 billion takeover offer for energy supplier AGL rejected as undervaluing the business by the company’s board. Infradebt is a specialist infrastructure project finance… Read more »

coal fired power statio
Advice

Here’s what’s behind the AGL takeover push by Mike Cannon-Brookes

- February 22, 2022 4 MIN READ

Two events in the past week mark a watershed for Australia’s electricity industry. The first, on Thursday, was Origin Energy’s surprise announcement that it intends to close the mammoth Eraring power station in the NSW Hunter region in 2025, seven years earlier than previously advised. Eraring is Australia’s largest coal-fired generator and supplies between a… Read more »

Mike Cannon-Brookes
Other tech

A $5 billion takeover bid for AGL by Atlassian boss Mike Cannon-Brookes added $500 million to the power company’s market cap

- February 22, 2022 2 MIN READ

A $5 billion consortium bid for AGL Energy, led by Atlassian billionaire Mike Cannon-Brookes through his private venture capital firm Grok Venture, has been rejected by ASX-listed energy company as undervaluing the business. Cannon-Brookes, who last year committed to investing $1 billion through Grok on climate change startups over the next decade, teamed up with… Read more »