Nick Molnar

40 under 40-2021 Nick Molnar
Courtesy of AfterPay
  • Age
  • Title
    Cofounder and Co-CEO
  • Company

Nick Molnar has deep roots in e-commerce. After becoming Australia’s top seller of jewelry on eBay as a university student, Molnar went on to cofound Afterpay with co-CEO Anthony Eisen. The Australia-based business, founded in late 2014, has become a big player in the popular “buy now, pay later” space, letting consumers purchase goods in interest-free installments; Afterpay doesn’t charge fees, as long as customers pay on time. Afterpay, which went public on the Australian stock exchange in 2016, has seen rapid growth on the back of the rising trend in millennial and Gen Z consumers who shun traditional credit and the debt it can often create. In 2021, Molnar, who at 31 is reportedly Australia’s youngest billionaire, agreed to sell Afterpay to Square for a hefty $29 billion. It’s the largest acquisition to date for Jack Dorsey’s fintech company, and a big move within the “buy now, pay later” universe at a time when competition is heating up.