$18.2 billion in net worth
Age: 61
DOB: 18th November 1961
Birthplace: Perth, Australia
About Andrew Forrest
Andrew Forrest is an iconic Australian businessman and a visionary leader whose impact extends far beyond the business world.
Born in Perth, Western Australia, Forrest has left an indelible mark on the global stage, as he is known for his remarkable achievements in the mining and resources sector.
Andrew Forrest is perhaps best recognised as the former CEO and founder of Fortescue Metals Group (FMG), a mining giant that he transformed into one of the world’s largest producers of iron ore. His entrepreneurial spirit, coupled with an unwavering commitment to sustainability and innovation, has not only propelled his company to great heights but has also significantly contributed to the Australian economy.
Forrest’s philanthropic endeavours are equally impressive. He is a dedicated advocate for social and environmental causes, having pledged substantial portions of his wealth to initiatives like the Minderoo Foundation, which aims to drive positive change in areas such as Indigenous disadvantage, marine conservation and cancer research.
As a pioneering figure in both business and philanthropy Andrew Forrest’s life story and achievements reflects his relentless drive and unwavering dedication to creating a better world.
How Did Antony Pratt generate his wealth?
Andrew Forrest has accumulated his significant net worth through various business ventures – primarily in the mining and resources sector.
He is perhaps best known for founding Fortescue Metals Group in 2003. FMG is a major player in the iron ore mining industry and under Forrest’s leadership, the company grew rapidly. He seized an opportunity in the Chinese market’s increasing demand for iron ore and developed FMG into one of the world’s biggest iron ore producers. This venture was a major contributor to his wealth.
Forrest’s wealth is also closely tied to the global demand for iron ore, particularly from China. FMG’s success was a result of strategic expansion and a focus on cost-efficient production – capitalising on the lucrative iron ore market.
Apart from FMG, Forrest has been involved in other business ventures, including agriculture, aquaculture and renewable energy. These diverse investments have further contributed to his net
worth.
Career Highlights
Aside from his business success, Forrest’s career has been marked by numerous other highlights and achievements. He is known in particular for his commitment to Indigenous employment and empowerment in Australia.
He initiated the Australian Employment Covenant, a program aimed at creating 50,000 jobs for Indigenous Australians. This initiative showcased his dedication to social responsibility.
Additionally, Andrew Forrest’s philanthropic work through the Minderoo Foundation has been another significant career highlight. The foundation has pledged substantial funds to various causes, including Indigenous disadvantage, cancer research, marine conservation and disaster relief efforts.
Forrest has also shown a keen interest in renewable energy and sustainability. His investments in these areas reflect his commitment to addressing environmental challenges and advancing sustainable practices.
Awards and Recognitions
Over the course of his glittering career, Forrest has been bestowed several recognitions and awards for both his achievements in business and philanthropic contributions.
He has been awarded an Australian Sports Medal and Australian Centenary Medal . Additionally he was won the Western Australian of the Year Award in 2017 and a year later took out the EY Entrepreneur of the Year Alumni Social Impact Award.
Forest also received the inaugural Special Award from the Business Council of Australia, while the University of Western Australia presented him with a PhD in Marine Science in 2019.
Private Life
Forest has the nickname ‘Twiggy’ . He recently separated from his wife, Nicole, after 31 years, with whom he has four children – Grace, Sophia, Matilda and Sydney.
One of his prized possessions is Pangaea, his 191 foot superyacht which he bought in 2018. The vessel is registered in Montego Bay and has been turned into a vessel specialising in ocean research for the Minderoo Foundation.
Forrest also owns a heritage-listed $16 million Tukurua mansion
purchased the heritage-listed Tukurua mansion in Cottesloe, WA.