Andrew Forrest facts for kids
Quick facts for kids
Dr Andrew Forrest
|
|
|---|---|
Forrest in 2017
|
|
| Born |
John Andrew Henry Forrest
18 November 1961 Perth, Western Australia, Australia
|
| Education |
|
| Alma mater | University of Western Australia |
| Occupation | Non-executive chairman, Fortescue Metals Group |
| Spouse(s) |
Nicola Forrest
(m. 1991; separated 2023) |
| Children | 4 |
| Relatives |
|
| Awards | |
John Andrew Henry Forrest (born 18 November 1961), often called Twiggy, is a well-known Australian businessman. He is famous for being the former CEO and current chairman of Fortescue Metals Group (FMG). He also has many other businesses, especially in mining and running large cattle farms.
Andrew Forrest is one of Australia's richest people. In 2023, his wealth was estimated at over $33 billion. He and his wife, Nicola Forrest, were the first Australian billionaires to promise to give most of their money to charity. They made this promise in 2013.
Much of their charity work is done through the Minderoo Foundation. This foundation helps with education and supports Indigenous Australians. They also started the Walk Free Foundation, which works to end modern slavery around the world.
Contents
Early Life and Education
John Andrew Henry Forrest was born in Perth, Western Australia, on 18 November 1961. He was the youngest of three children. His family had a long history with Minderoo Station, a large cattle farm in the Pilbara region. His great-great uncle, John Forrest, was even the first Premier of Western Australia.
Andrew spent his early years at Minderoo Station. He went to Onslow Primary School and learned through the School of the Air. Later, he moved to Perth for high school, attending Christ Church Grammar School and Hale School. He studied economics and politics at the University of Western Australia.
Career Journey
Starting in Business
After university, Andrew Forrest worked as a stockbroker. He then decided to start his own mining company, Anaconda Nickel, in 1993. He was the first CEO of this company. However, in 2001, he left the company when it faced big financial problems.
Fortescue Metals Group
In 2003, Andrew Forrest started a new company called Fortescue Metals Group (FMG). This company focuses on mining iron ore in the Pilbara region of Western Australia. He is still a major owner of FMG.
Fortescue made its first shipment of iron ore to China in 2008. The company has grown a lot since then. It now has many large iron ore deposits. Some of these are at Mount Nicholas, Christmas Creek, Cloudbreak, and Tongolo.
Mining operations in the Pilbara region affected about 250 cultural and sacred sites of the Yindjibarndi people. These operations happened without their permission or payment for using their land.
Andrew Forrest disagreed with a proposed government tax on mining profits. He believed it would harm the industry. He argued that the tax was unfair and would make foreign companies own more of Australia's resources.
In August 2021, it was announced that Andrew Forrest would receive a large payment from Fortescue's record profits.
Tattarang Investments
Tattarang is the company that manages the Forrest family's private businesses. It invests in many different areas. These include food and farming, energy, health technology, property, and other resources. Some of its well-known businesses are Harvest Road (food) and Akubra (hats).
Supporting Rugby
Andrew Forrest is also a big supporter of rugby. When the Western Force rugby team was removed from a major competition in 2017, he stepped in. He created a new rugby tournament called Global Rapid Rugby. This competition included the Western Force and other teams from the Asia-Pacific region. The 2020 season was stopped because of the COVID-19 pandemic.
Cattle Farming
Andrew Forrest bought back his family's old farm, Minderoo Station, in 2009. Since then, he has bought many other large cattle farms. His total land for farming in the Pilbara region is now over 10,000 square kilometers. In 2020, he also bought more farms in the Kimberley region.
Medical Technology
In 2005, a medical equipment company called Allied Medical was started from Fortescue Metals Group. Andrew Forrest was a director there. This company later became Anteris Technologies, which works on heart valve technology.
Awards and Recognition
Andrew Forrest has received several important awards. These include the Australian Centenary Medal and the Australian Sports Medal. In 2017, he was named Western Australian of the Year.
In 2017, he was made an Officer of the Order of Australia. This award recognized his great service to the mining industry. It also honored his work in creating jobs and businesses, supporting foreign investment, and his charity work.
In 2019, he earned a PhD in Marine Science from the University of Western Australia. He is very interested in keeping the oceans healthy.
Other Important Roles
Andrew Forrest has many connections in politics, business, and sports. He is a special professor at the Chinese Southern University. He has also been a director for Australia's Export Finance and Insurance Corporation. He used to be the chairman of Athletics Australia.
He has given talks at universities and other events. In 2020, he gave the Boyer Lectures, where he spoke about hydrogen energy and how to protect the oceans.
Giving Back: Philanthropy
In 2013, Andrew and Nicola Forrest joined The Giving Pledge. This means they promised to give away at least half of their wealth to charity. They said they wanted to help people suffering from poverty and lack of opportunities.
Helping Indigenous Australians
After stepping down as CEO of FMG, Andrew Forrest spent a lot of his time on charity work for Indigenous Australians. He became an ambassador for the Australian Indigenous Education Foundation.
He started the GenerationOne project to help create lasting solutions for social problems. With former Prime Minister Kevin Rudd, he launched the Australian Employment Covenant. This program encouraged businesses to hire Indigenous Australians. Many businesses signed up, aiming to create thousands of jobs.
Forrest believes that Indigenous Australians should not rely on welfare. He has spoken about the importance of work and opportunity.
In 2013, the Australian Government asked Andrew Forrest to lead a review. This review looked at programs for Indigenous employment and training. His report, delivered in 2014, suggested creating the Cashless Welfare Card.
Fighting Modern Slavery
Andrew Forrest's daughter, Grace, helped inspire him to fight modern slavery. While volunteering in Nepal, she learned that children she cared for had been trafficked.
In 2010, Forrest started the Walk Free Foundation. This organization works to end modern slavery around the world. In 2013, they launched the Global Slavery Index. This index ranks countries based on how much modern slavery exists there. It helps to show where the problem is biggest.
Forrest also founded the Global Freedom Network. This group brings together leaders from different religions. They work to stop organizations from using products made with slavery in their supply chains. In 2014, Andrew and Grace Forrest attended a meeting at the Vatican. Religious leaders from Christianity, Judaism, Islam, Hinduism, and Buddhism signed a declaration against modern slavery.
Other Charity Work
Andrew Forrest has given a lot of money to charity. He has supported his old school, Hale School. He also donated money to help with the 2008 Sichuan earthquake relief effort in China.
In 2013, he donated $65 million to higher education in Western Australia. This was one of the largest donations in Australia at the time. Most of it went to fund scholarships for students.
The Minderoo Foundation, his private charity, has given hundreds of millions of dollars since 2001. In 2014, Andrew and Nicola Forrest pledged $65 million over ten years to create the Forrest Research Foundation. This foundation offers scholarships for PhD students at Western Australian universities.
In 2017, Forrest donated $400 million to medical research and social causes. In 2019, he gave another $655 million to expand the Minderoo Foundation's work. This included funding for cancer research, early childhood development, ocean health, and ending modern slavery. This was the largest donation ever made by an Australian while still alive.
Personal Life
In 1991, Andrew Forrest married Nicola Maurice. They have four children, including their daughter Sophia Forrest. In July 2023, after 31 years of marriage, Andrew and Nicola announced they had separated.
In 2018, Forrest bought a large yacht called Pangaea. He turned this yacht into an ocean research vessel for the Minderoo Foundation. It now has laboratories and special equipment for scientific research.
He also owns several historic homes in Cottesloe. He is a Christian.
Net Worth
Andrew Forrest's wealth has changed over the years. Here's a look at his estimated net worth:
| Year | Financial Review Rich List |
Forbes Australia's 50 Richest |
||
|---|---|---|---|---|
| Rank | Net worth (A$) | Rank | Net worth (US$) | |
| 2011 | 3  |
$6.18 billion |
||
| 2012 | 4  |
$5.89 billion |
||
| 2013 | 9 |
$3.66 billion |
||
| 2014 | 7 |
$5.86 billion |
||
| 2015 | 9 |
$2.83 billion |
||
| 2016 | 8 |
$3.33 billion |
||
| 2017 | 6 |
$6.84 billion |
||
| 2018 | 8 |
$6.10 billion |
||
| 2019 | 8  |
$7.99 billion |
||
| 2020 | 2 |
$23.00 billion |
||
| 2021 | 2 |
$27.25 billion |
||
| 2022 | 2 |
$30.70 billion |
||
| 2023 | 2 |
$33.29 billion |
||
| 2024 | 8 |
$16.76 billion |
||
| 2025 | 11 |
$12.68 billion |
||
| Legend | |
|---|---|
| Icon | Description |
|
Has not changed from the previous year |
|
Has increased from the previous year |
|
Has decreased from the previous year |
See also
In Spanish: Andrew Forrest para niños
