Andrew and Nicola Forrest, believed to be Australia’s richest couple, have introduced their separation after 31 years of marriage.
There’s no dangerous blood between the pair; in a joint assertion they said that “our friendship and commitment to our family remains strong”. The Forrests share three grownup youngsters.
Read on to study extra about Andrew and Nicola Forrest, and how they constructed their large fortune.
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Who is Andrew Forrest?
Andrew “Twiggy” Forrest is first and foremost the chairman of Fortescue Metals Group (FMG), one of many world’s main iron ore mining firms.
Forrest grew up in rural Western Australia, on a sheep and cattle station that was began within the 1870s by his great-grandfather.
Starting out as a stockbroker, Forrest seen that the worth of metal was steadily rising yearly. He began his first mining firm, Anaconda Nickel (now referred to as Minara Resources), in 1994.
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He’s additionally closely concerned in charity work and philanthropy, working a charitable organisation referred to as the Minderoo Group, which is devoted to addressing pressing societal challenges and threats “that affect our collective wellbeing”.
Forrest is estimated to be the second richest particular person within the nation, in accordance to two calculations of wealth this yr, behind Gina Rinehart.
Who is Nicola Forrest?
Nicola and Andrew had related upbringings: she was additionally raised on a cattle and sheep farm, although in rural NSW. She met Andrew at a housewarming social gathering in 1988, and married in 1991.
Nicola Forrest is considered one of Australia’s foremost philanthropists, and the CEO of the Minderoo Foundation. She collectively owns shares in her husband’s firms, Fortescue and Tattarang.
A spokeswoman for the forme stated that regardless of the Forrests’ break up, there shall be no change to the operation. “There is no change to the ownership structure, control or direction of Fortescue,” she stated.
“Andrew Forrest and Nicola Forrest share the same vision for Fortescue to become the world’s leading green energy and green metals company leading global heavy industry to tackle climate change.”
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Who are Andrew and Nicola Forrest’s children?
The couple share three children of their 20s –– Sophia, Grace, and Sydney.
The Forrests have beforehand revealed that their children wont ultimately be the recipients of their excessive wealth. The fortune as an alternative shall be shared amongst a variety of charitable causes, together with Indigenous assist, training reform and most cancers analysis.
“The things that are most important in life, money doesn’t buy that,” Nicola informed Australian Story. “Children don’t benefit from thinking they’re going to inherit a huge amount of money.”
Grace Forrest
The eldest Forrest daughter, Grace, has adopted in her dad and mom’ footsteps and discovering a profession in philanthropy. She co-founded Walk Free in 2011 beneath the household’s philanthropic enterprise, the Minderoo Foundation, which is concentrated on abolishing trendy slavery.
“Modern slavery permeates every aspect of our society,” she stated. “It is woven through our clothes, lights up our electronics, and seasons our food. At its core, modern slavery is a manifestation of extreme inequality. It is a mirror held to power, reflecting who in any given society has it and who does not.”
Grace was named Young Western Australian of the Year 2021 for her antislavery work.
Sophia Forrest
Their daughter, Sophia Forrest, is an actress who has had roles in Love Child and Aquaman. Last yr she bought engaged to her long-term girlfriend and fellow actor Zara Zoe. The couple reportedly met once they have been each forged within the 2018 Michelle Payne biopic Ride Like A Girl.
She stated of the queer storyline in her ABC present Barons: “You can’t know what you can’t see. ‘If you’re constantly watching heteronormative storylines, you can’t connect with, maybe a queer storyline that could help you understand who you are,” Sophia stated.
Meanwhile, not a lot is understood about Sydney, the couple’s youngest baby and solely son.
How lengthy have been Andrew Forrest and Nicola Forrest married?
The couple confirmed the tip of their 31-year marriage in July 2023. However, they made it clear that they don’t have any plans to divorce, however simply to reside separate lives.
“Our friendship and commitment to our family remains strong,” they stated in a joint assertion to The Australian Financial Review.
Andrew Forrest’s internet price
Andrew Forrest is the second-richest particular person in Australia, and he and Nicola are believed to be the nation’s richest couple.
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Andrew’s internet price is round $30 billion AUD, although he is pledged to give nearly all of it to worthy causes.
He and Nicola have been the primary Australians to signal Warren Buffett’s Giving Pledge –– a vow to give away most of their wealth throughout their lifetimes. Other signees embrace Elon Musk and Bill Gates.
The majority of his wealth comes from his stake in Fortescue, wherein the couple maintain a greater than one-third curiosity.
Inside Andrew Forrest and Nicola Forrest’s break up
On July twelfth, 2023, the couple gave a joint assertion to the Australian Financial Review saying their resolution to half methods. “After 31 years of marriage, we have made the decision to live apart,” they stated.
The couple insist that the whole lot stays amicable, and they proceed to have a shared imaginative and prescient about their firms.
“We will continue our shared mission to create and gift our wealth to tackle community and global challenges, as recently shown by last month’s donation of one-fifth of our Fortescue shareholding to Minderoo Foundation,” learn their joint assertion.
The couple confirmed their break up after eyebrows have been raised when half the possession of their flagship firm, Tattarang, and greater than $1.1 billion price of Fortescue shares have been moved into a brand new firm, Coaxial Ventures, wholly owned by Nicola.
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