Andrew Forrest

Quick Facts

Full Name	Andrew Forrest
Date Of Birth	Jul 5, 1961(1961-07-05)
Age	63
Birthplace	Perth
Country	Australia
Birth City	Western Australia
Horoscope	Cancer

Andrew Forrest Biography

Andrew Forrest is one of the most popular and richest Businessman who was born on July 5, 1961 in Perth, Western Australia, Australia.

John Andrew Henry Forrest AO (born 1961), nicknamed Twiggy, is an Australian businessman. He is best known as the former CEO (and current non-executive chairman) of Fortescue Metals Group (FMG), but also has interests elsewhere in the mining industry and in cattle stations.

After stepping down as Chief Executive Officer of FMG to reflect that he had been spending more than 50% of his time on indigenous philanthropy, and to hand leadership reins to former head of engineering company Thiess, Nev Power, he became Ambassador of the Australian Indigenous Education Foundation. Encouraged by the philanthropic work of the Rockefeller Group, Warren Buffett, and Melinda and Bill Gates, Forrest founded the Australian Children’s Trust with his wife Nicola in 2001. He also started the GenerationOne project, which was founded as a result of his hero and first mentor outside his father, Scotty Black. Forrest obtained assistance from James Packer and Kerry Stokes, who each donated $2 million, along with the support of their respective media stations, Channel 9 and Channel 7. The organisation works with the Australian Children’s Trust to help create sustainable solutions on addressing social disadvantage.

Forrest was born in Perth, Western Australia, the youngest of three children of Judith (née Fry) and Donald Forrest. His father, grandfather (Mervyn), and great-grandfather (David) were all managers of Minderoo Station, which David had established in 1878 with his brothers, Alexander and John. John, Alexander, David, and Mervyn were all members of parliament for periods, with John serving as Western Australia’s first premier. Forrest’s early years were spent at Minderoo, located in the Pilbara region south of Onslow. Minderoo was owned by the Forrest family until it was sold in 1998 by his father due to relentless drought and debt, but it was bought back by Forrest in 2009.

Andrew Forrest Net Worth

Net Worth: As of 2020, the net worth of Andrew Forrest stands at a remarkable 10 billion USD. This substantial wealth is predominantly gathered from his involvement in various business ventures, including his current position as the non-executive chairman of Fortescue Metals Group (FMG). His assets include the privately held organization The Metal Group, which is a major shareholder of FMG, increasing his personal stake in the industry. According to the Financial Review 2023 Rich List, Forrest was declared the second richest Australian with an assessed net worth of A$33.29 billion, making him a formidable figure in the industry.

Early Life: John Andrew Henry Forrest was born in Perth, Australia in

1961. Growing up, Forrest spent his early years at Minderoo, a cattle station set up by his great-grandfather David in 1878. Here, his father, grandfather, and great-grandfather were all caretakers before it was sold due to financial difficulties. Forrest later bought it back in 2009. Completing his initial education through the School of the Air and Onslow Primary School, he went on to attend Christ Church Grammar School and Hale School in Perth. Further, he obtained a major in economics and politics from the University of Western Australia.

      Career and Financial Growth: Forrest’s financial culmination started when he entered the nickel mining industry after noticing the rising demand for stainless steel at 4% every year. He became the founding CEO of Anaconda Nickel, a company which he had a stake in. Despite facing a setback when the company nearly collapsed in 2001, Forrest emerged resilient by taking over Allied Mining and Processing in 2003. He renamed it Fortescue Metals Group, which turned out to be a major financial milestone in his life. His investments in the mining and business industry over the years have greatly contributed to his wealth accumulation.

      Source of net worth: The majority of Forrest’s net worth comes from his extensive investments and ventures in the mining industry. His wealth is bolstered further by his stakes in Fortescue Metals Group and The Metal Group. Andrew Forrest’s entrepreneurial spirit and sharp business acumen have earned him a considerable fortune, making him one of the wealthiest individuals in Australia.

      Personal Projects and Ventures: Apart from his primary profession, Forrest has numerous business ventures under his private company Tattarang. This includes investments in diverse sectors like agri-food, energy, property, resources, lifestyle, and health technology. Other ventures include the establishment of the Global Freedom Network and Walk Free Foundation, global initiatives aimed at ending modern slavery.

      Philanthropy: Andrew Forrest is also known for his philanthropic efforts. He and his wife, Nicola, were the first Australian billionaires to pledge the majority of their wealth to philanthropy during their lifetimes. Their charitable endeavors are mainly undertaken through the Minderoo Foundation, which focuses on education and Indigenous Australians, as well as the Walk Free Foundation.

      Recent Developments: In recent developments, Forrest received a $2.4 billion dividend on Fortescue’s record profit in August 2021. He also continues to invest in his private company, Tattarang, and uphold his philanthropic initiatives. However, the pandemic’s influence on global markets and his future net worth remains to be seen. With his committed business strategies and ventures, it is likely that Andrew Forrest will continue to thrive in the business world.

Height, Weight & Body Measurements

Andrew Forrest height Not available right now. Andrew weight Not Known & body measurements will update soon.

Who is Andrew Forrest Dating?

According to our records, Andrew Forrest married to Nicola Forrest. As of January 13, 2024, Andrew Forrest’s is not dating anyone.

Relationships Record : We have no records of past relationships for Andrew Forrest. You may help us to build the dating records for Andrew Forrest!

After buying back the family property, Minderoo Station in 2009 Forrest acquired the adjoining properties, Nanutarra and Uaroo Stations in 2014. Forrest’s total pastoral holdings in the Pilbara was then 7,300 square kilometres (2,819 sq mi). Meat processing company Harvey Beef was acquired by Forrest in 2014 for A$ 40 million. The company is the biggest exporter of beef in Western Australia and was previously the only one accredited to export to China until August 2014. Forrest acquired both Brick House Station and Minilya Station in 2015 for an estimated A$ 10 million, bringing his total pastoral holdings now to over 10,000 square kilometres (3,861 sq mi).

Facts & Trivia

Andrew Ranked on the list of most popular Businessman. Also ranked in the elit list of famous people born in Australia. Andrew Forrest celebrates birthday on July 5 of every year.

Forrest established the Walk Free Foundation in 2010 to fight modern slavery. In 2013 the organisation launched the Global Slavery Index ranking 162 countries “based on a combined measure of three factors: estimated prevalence of modern slavery by population, a measure of child marriage, and a measure of human trafficking in and out of a country”. The Index estimates there are 29 million slaves worldwide, roughly half in India and Pakistan.

How did Andrew Forrest get rich?

The majority of Forrest’s fortune is derived from a 36.7% stake in Fortescue Metals Group. He owns the shares through Minderoo Group, Forrest Family Investments and directly, according to its annual report for the year to June 30, 2021.

What is Andrew Forrest investing in?

Australia’s richest man Andrew “Twiggy” Forrest has made a $3 billion renewables investment to buy the Clarke Creek green energy hub , near Rockhampton.

What did Andrew Forrest do?

Forrest started his first mining company, Anaconda Nickel (now called Minara Resources), in 1994. Nine years later, he founded Fortescue Metals Group, which mines and ships iron ore to China.

Who owns Minderoo foundation?

Andrew and Nicola Forrest founded Minderoo Foundation in 2001, and continue to drive its philanthropic mission today. Andrew remains Chairman of Fortescue Metals Group, the publicly listed company he founded in 2003, which is one of the world’s main suppliers of iron ore.

What is Michael Cannon Brookes worth?

10.6 billion USD (2022)