Andrew Forrest & family
Mining · Perth
Net worth
$16.2B
Today
+$46M+0.29%Past month
−$346M−2.09%As of Nov 11, 2026, 1:50 PM EST
Andrew Forrest founded Fortescue Metals Group in 2003. It's an iron ore giant which is now transforming itself into a green energy powerhouse. In 2022, his privately held Squadron Energy paid an estimated A$4 billion for Australia's biggest wind energy company, CWP Renewables. Forrest has also promised to spend A$750 million on rebuilding Ukraine's energy and communications infrastructure. Forrest and his wife Nicola founded Minderoo Foundation, a philanthropic outfit with an A$9.6 billion endowment, focused on everything from gender equality to climate change to rebuilding Ukraine. Forrest and Nicola announced their separation in July 2023 after being married for more than three decades.
Net worth over time
Principal holdings
6 positions| Company | Industry | Share | Value |
|---|---|---|---|
Fortescue Metals Group, Australia ASX: FMG-AU | Metals & Mining | 57.6% | $9.3B |
Private and other holdings | Metals & Mining | 39.1% | $6.3B |
Austal ASX: ASB-AU | Metals & Mining | 1.5% | $250M |
Bega Cheese ASX: BGA-AU | Metals & Mining | 1.0% | $158M |
Australian Agricultural Co. Ltd. ASX: AAC-AU | Metals & Mining | 0.8% | $126M |
Invex Therapeutics ASX: IXC-AU | Metals & Mining | 0.0% | $546K |
Also known for
- Known by his schoolboy nickname "Twiggy," Forrest was a onetime stockbroker and keen amateur boxer.
- He once tried to make a living as an alpaca farmer and is a descendant of the first premier of the state of West Australia, Lord Forrest of Bunbury.
- Australia's biggest philanthropists, in 2023 he and wife Nicola gifted shares worth nearly A$5 billion to their foundation.
- In September 2024, he struck a $2.8 billion deal to buy hundreds of electric trucks, excavators and dozers for his iron ore mines.
“You cannot afford a world with slavery, which literally takes someone and turns them into a machine.”