Business Magnates & Tycoons Codexery

Andrew Forrest

Australian mining entrepreneur and notable public figure.

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According to the Financial Review Rich List 2023, Forrest's assessed net worth of 33.29 billion placed him second among Australians, while the Australian Financial Review had previously named him the country's wealthiest person in 2008.[1]

Key facts and history

Forrest majored in economics and politics at the University of Western Australia.[2] In April 2003, he took control of Allied Mining and Processing, renamed it Fortescue Metals Group, and remains a major shareholder through his private company The Metal Group.[3] David Forrest, together with his brothers Alexander and John, established Minderoo Station in 1878; subsequently, David, his son Mervyn, and then Donald—Andrew's father—each managed the property.[4] In 1993, after purchasing a stake in the company, Forrest became Anaconda Nickel's first CEO.[5]

Forrest was removed as CEO in 2001 when Anaconda Nickel neared collapse; during the subsequent restructuring, US bondholders recovered $0.26 for each dollar they had lent.[5][6] A 2021 commitment by Forrest aimed to cut nearly all carbon emissions from Fortescue's activities by 2030, with major investments directed toward solar and wind energy, battery-powered vehicles, and green hydrogen.[7] In 2013, Andrew and Nicola Forrest signed The Giving Pledge, committing to donate a minimum of half their wealth to charitable causes.[8]

What the cited sources add

A 2012 Sydney Morning Herald article reported that Anaconda shares slumped 89 percent ahead of the company being re-badged as Minara Resources.[6] The same article noted that Forrest's net worth dropped to $3.4 billion on September 13, 2012, according to the Bloomberg Billionaire Index.[6] The Tattarang website describes Forrest as an entrepreneur, scientist and business leader committed to ending fossil fuel use and accelerating green energy.[9] The same source states that Forrest holds a PhD in Marine Ecology and was appointed an Officer of the Order of Australia.[9]

References

  1. Wikipedia, "Andrew Forrest" (CC BY-SA 4.0), which cites: "The 200 richest people in Australia revealed", Australian Financial Review, 26 May 2023; Chappell, Trevor, "Alan Bond makes BRW rich list comeback", news.com.au, 28 May 2008; "Passport Power", BRW Rich 200 Wealth Index, 25 May 2011 (original not read by us) en.wikipedia.org
  2. Wikipedia, "Andrew Forrest" (CC BY-SA 4.0), which cites: "UWA staff and graduates win WA Citizen of the Year Awards", University of Western Australia, 31 May 2010; "Andrew Forrest, Chairman, Fortescue Metals Group", Mines and Money (original not read by us) en.wikipedia.org
  3. Wikipedia, "Andrew Forrest" (CC BY-SA 4.0), which cites: Herald Sun newspaper, Melbourne. 6 August 2005; Ker, Peter, "Forrest takes a $1.5bn hit", The Sydney Morning Herald, 1 October 2011 (original not read by us) en.wikipedia.org
  4. Wikipedia, "Andrew Forrest" (CC BY-SA 4.0), which cites: "Fortescue Metals Group Ltd.", The Wall Street Journal; "Andrew Forrest", Bloomberg Billionaires Index; "Andrew Forrest", Bloomberg Billionaires Index; Rule, Billy, "Meet the man who inspired mining billionaire Andrew Forrest", The Sunday Mail, 27 June 2010; "Program: Forrest", Dynasties, 28 November 2005; Black, "Biographical Register of Members of the Parliament of Western Australia", 1990, p. 74; Muir, "Forrest Family, Pioneers of Western Australia, 1842–1982", J.R. Muir & Son, 1982, p. 101; "Program: Forrest", Dynasties, 28 November en.wikipedia.org
  5. Wikipedia, "Andrew Forrest" (CC BY-SA 4.0), which cites: "The roller-coaster career of Andrew 'Twiggy' Forrest", Nikkei Asia; "Fortescue woes stir Anaconda memories", Sydney Morning Herald, 17 September 2012; "Fortescue woes stir Anaconda memories", Sydney Morning Herald, 17 September 2012; "Fortescue woes stir Anaconda memories", Sydney Morning Herald, 17 September 2012; "Fortescue woes stir Anaconda memories", Sydney Morning Herald, 17 September 2012 (we also read that source) en.wikipedia.org
  6. "Fortescue woes stir Anaconda memories", Sydney Morning Herald, 17 September 2012. facts only, no text reused. smh.com.au
  7. Wikipedia, "Andrew Forrest" (CC BY-SA 4.0), which cites: Brangham, "Why a billionaire mining executive is betting on green energy", PBS News, 2025-10-15 (original not read by us) en.wikipedia.org
  8. Wikipedia, "Andrew Forrest" (CC BY-SA 4.0), which cites: Walsh, "Twiggy joins Buffett in billionaires' pledge", Australian Financial Review, 20 February 2013; "Andrew and Nicola Forrest", The Giving Pledge, February 2013 (original not read by us) en.wikipedia.org
  9. "Who We Are", Tattarang. facts only, no text reused. tattarang.com

Each numbered sentence above was checked against the source it cites before publication. Sentences citing Wikipedia adapt text from the English Wikipedia article Andrew Forrest (contributors), used under CC BY-SA 4.0; this entry is available under the same licence. Other sources were used for facts only; no text or images are copied from them.

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Sources

Compiled from Wikipedia and the sources listed below. Text from Wikipedia is available under CC BY-SA 4.0; this entry is adapted from it.

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