Atlassian: Software company’s $4 million bill to use billionaire co-founder Mike Cannon-Brookes’ private jet

Atlassian paid its co-founder Mike Cannon-Brookes millions of dollars to use his private jet, with the software company defending the expense as a cost-effective way travel on long-haul business trips.

The US$2.8 million (A$4 million) payment was disclosed in the software company’s 2026 proxy statement, released on Thursday morning in Australia.

The filing sets out Atlassian’s reasoning as to why leasing the aircraft from its billionaire boss is the in the interests of the business and its shareholders.

“The arrangements allow for significant benefits in terms of safety, security, efficiency, privacy, confidentiality, flexibility, and productivity for Mr Cannon-Brookes’ role as CEO, particularly since the use of a private aircraft facilitates non-stop long-haul flights from Australia to the United States,” the statement read, according to The Australian.

“We believe the amounts we pay pursuant to this arrangement are reasonable, necessary, appropriate, and for the benefit of us and our stockholders.

“Particularly in light of their business purpose and the fact that Mr Cannon-Brookes receives only a nominal salary and does not receive any bonus payments, equity awards or other incentive compensation.”

The company also argued the arrangement was financially justified given the agreed rental rate was lower than the aircraft’s operating costs.

“Due to the fact that the pre-determined rate we pay for the use of the Private Aircraft is less than the actual operational costs incurred, Mr Cannon-Brookes does not profit from this arrangement,” the statement added.

The agreement was approved by Atlassian’s audit committee, according to the statement.

“The Charter Agreement was authorised by the Audit Committee, which believes that these transactions provide Atlassian with substantial value because our cost is less than the cost we would incur if we were to charter a similar aircraft from another operator at market rates or commit substantial capital to own and operate our own aircraft,” the company said.

Atlassian’s payments for the jet began during its 2025 financial year. The company reimbursed Mr Cannon-Brooks US$1.9m (A$2.7m) for travel before the aircraft was certified as a charter vehicle.

It then paid a further US$1.8m (A$2.5m) to hire the plane for business purposes for the remainder of the financial year.

The payment comes after Mr Cannon-Brookes publicly acknowledged the personal dilemma surrounding his decision to buy a private aircraft last year.

In a LinkedIn post, he described a “deep internal conflict” over the purchase, saying safety concerns were the main factor behind the decision.