Andrew Forrest

Andrew Forrest is a Western-Australian mining tycoon, formerly the Chief Executive Officer and currently the Non-Executive Chairman of Fortescue Metals Group (FMG). He is currently the 4th richest person in Australia and the 211th richest person in the world. According to Forbes, his net worth is $5.7 billion. 

Quick Facts

Net Worth: $5.7 billion (As of March 2013)

Source: Mining, Self-Made

Born: 1961 (Age 52)

Nationality: Australian

Residence: Perth, Australia

Marital Status: Married with 3 children

andrew forrest

Background

Forrest was born in 1961 in Perth, Western Australia to a famous and a well-to-do family. He is the great-grandchild to David Forrest, who was the manager and part-owner of Minderoo Station. He is also the great-great nephew of John Forrest, who was the 1st prime minister of Western Australia. In 2008, Andrew Forrest was named the richest man in Australia. In 2013, he has been ranked as the 4th wealthiest person in Australia with an estimated net worth of $5.7 billion. 

fortescue metals group

Forrest is the founder, Chairman, as well as a member of the Fortescue Metals Group’s Remuneration and Nomination Committee. He also acts as the Non-Executive Chairman of Poseidon Nickel Limited, as well as the Australian Children’s Trust that manages initiatives such as The Australian Employment Covenant, GeneratinosOne and Walk Free, which is basically a new global campaign that intends to put an end to modern slavery.

Andrew Forrest is also an Adjunct Professor of the China Southern University, and he is also a long standing Fellow of the Australian Institute of Mining and Metallurgy. His former executive roles include founding Chairman, CEO, Deputy Chairman of Minara Resources Ltd and Chairman of the Murrin Murrin Joint Venture. His former non-executive roles include President of Athletics Australia, Director of the West Australian Chamber of Minerals and Energy and Director of the Australian Export Finance and Insurance Corporation. 

andrew forrest

Philanthropy

Forrest was very much encouraged by the philanthropic work of Rockefeller, Warren Buffett and Bill Gates, such that he decided to establish the Australian Children’s Trust in 2001. He also began the GenerationOne Project, which he established in commemoration of his hero and first mentor, Scotty Black. Forrest was assisted in setting up the project by Kerry Stokes and James Packer, who donated $2 million each, together with the support of their media stations, Channel 7 and Channel 9 respectively. The GenerationOne Project works closely with The Australian Children’s trust to assist in the creation of sustainable solutions on tackling social disadvantage.

In October 2013, an announcement was made stating that Forrest would give a donation of A$65 million toward higher education in Western Australia. 

This amount is perceived to be the highest philanthropic donation in Australia’s history. Most of the amount is scheduled to fund scholarships. Forrest’s private foundation, The Minderoo Foundation is scheduled to be expanded in order to include higher education contributions. This foundation has given not less than A$270 million since 2001.

andrew forrest

Awards and Recognition

Forrest possesses far-reaching experience in the mining sector and has been awarded with various global finance awards. The various awards and medals he has won include: -

  • The Australian Centenary Medal.
  • The Western Australian Governor’s Award for Citizen of the Year for Regional Development
  • The Australian Sports Medal.
  • The Australian Medical Society’s (WA) 2012 President’s Award.
  • Ernst & Young Social entrepreneur of the Year.
andrew forrest wife

Forrest and wife, Nicola Forrest

Personal Life 

Andrew Forrest is married to Nicola Forrest with whom he has three children. Forrest is a religious man and a church-going Christian.

Interesting Facts about Forrest

  • He is also referred to by his nickname “Twiggy”.
  • He was born in the same year (1961) as Barrack Obama (President of the United States), Eddy Murphy (Comedy Superstar, Director and Actor) George Clooney (Actor, Director and Producer) and Forrest Whitaker (Actor) among others. 

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Stephen Loke has always been fascinated with the life story of rich and successful people. Which is why he started this website worldsrichpeople to share to everyone the stories of the rich and famous. He has a passion to inspire everyone to achieve success through the articles on this site. Stephen Loke studied law at UWE, Bristol, England and was formerly a stock trader. He now focuses on developing websites and investing.


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