Afterpay co-founder Nick Molnar spends $10 million on North Bondi penthouse

Afterpay co-founder Nick Molnar and his wife, Gabrielle, have reportedly spent $10 million on a brand new North Bondi penthouse.

The deal – the highest price paid for a dwelling in the eastern Sydney suburb this year – was struck off-market with the developer, Rafi Assouline.

The couple live in a smaller North Bondi apartment which they bought for $900,000 in 2013 – two years before getting married.

Their next home – with 210 square metres of area over the top two levels of a new building on the Ben Buckler clifftop – has unobstructed water views.

The dwelling is configured with three bedrooms and a rooftop terrace. The sale also includes three car parks.

The Ben Buckler peninsula.

Afterpay was founded in 2014.

When it was launched on the ASX in 2017, shares were valued at $2.95 million.

These shares are worth about $24.50 today.

The Australian company expanded into the US last year.

However, it has reportedly been facing competition this year from other finance groups seeking a stake of the lucrative buy-now-pay-later market.

Mr Molnar is now global chief revenue officer for the company which has more than three million customers and 200 retail merchants.

With co-founder Anthony Eisen, Mr Molnar cashed out of part of the company in June, banking about $100 million.

However each retain an interest worth more than half a billion, according to the recent AFR Young Rich List.

Last year, Melbourne-based Mr Eison and his wife, Samantha, paid members of the Arnott family $7.6 million for Byron Bay’s landmark White House on Wategos Beach.

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Marc Pallisco

Marc Pallisco

A freelance property writer and analyst, Marc is a co-founder of realestatesource.com.au.

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