Andrew and Nicola Forrest, believed to be Australia’s richest couple, have introduced their separation after 31 years of marriage.
There is not any unhealthy blood between the pair; in a joint assertion they said that “our friendship and dedication to our household stays robust”. The Forrests share three grownup youngsters.
Learn on to be taught extra about Andrew and Nicola Forrest, and the way they constructed their large fortune.
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Who’s Andrew Forrest?
Andrew “Twiggy” Forrest is before everything 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.
Beginning out as a stockbroker, Forrest seen that the value of metal was steadily rising yearly. He began his first mining firm, Anaconda Nickel (now known as Minara Assets), in 1994.
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He is additionally closely concerned in charity work and philanthropy, operating a charitable organisation known as the Minderoo Group, which is devoted to addressing pressing societal challenges and threats “that have an effect on our collective wellbeing”.
Forrest is estimated to be the second richest particular person within the nation, in response to two calculations of wealth this yr, behind Gina Rinehart.
Who’s Nicola Forrest?
Nicola and Andrew had comparable upbringings: she was additionally raised on a cattle and sheep farm, although in rural NSW. She met Andrew at a housewarming occasion in 1988, and married in 1991.
Nicola Forrest is considered one of Australia’s foremost philanthropists, and the CEO of the Minderoo Basis. She collectively owns shares in her husband’s firms, Fortescue and Tattarang.
A spokeswoman for the forme mentioned that regardless of the Forrests’ cut up, there will likely be no change to the operation. “There isn’t any change to the possession construction, management or path of Fortescue,” she mentioned.
“Andrew Forrest and Nicola Forrest share the identical imaginative and prescient for Fortescue to turn out to be the world’s main inexperienced power and inexperienced metals firm main world heavy business to sort out local weather change.”
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Who’re 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 a substitute will likely be shared amongst a variety of charitable causes, together with Indigenous assist, schooling reform and most cancers analysis.
“The issues which might be most essential in life, cash does not purchase that,” Nicola advised Australian Story. “Youngsters do not profit from considering they will inherit an enormous amount of cash.”
Grace Forrest
The eldest Forrest daughter, Grace, has adopted in her dad and mom’ footsteps and discovering a profession in philanthropy. She co-founded Stroll Free in 2011 beneath the household’s philanthropic enterprise, the Minderoo Basis, which is targeted on abolishing fashionable slavery.
“Trendy slavery permeates each side of our society,” she mentioned. “It’s woven by way of our garments, lights up our electronics, and seasons our meals. At its core, fashionable slavery is a manifestation of maximum inequality. It’s a mirror held to energy, reflecting who in any given society has it and who doesn’t.”
Grace was named Younger Western Australian of the Yr 2021 for her antislavery work.
Sophia Forrest
Their daughter, Sophia Forrest, is an actress who has had roles in Love Little one and Aquaman. Final yr she obtained engaged to her long-term girlfriend and fellow actor Zara Zoe. The couple reportedly met after they have been each forged within the 2018 Michelle Payne biopic Journey Like A Woman.
She mentioned of the queer storyline in her ABC present Barons: “You possibly can’t know what you’ll be able to’t see. ‘In case you’re continuously watching heteronormative storylines, you’ll be able to’t join with, perhaps a queer storyline that would enable you perceive who you might be,” Sophia mentioned.
In the meantime, not a lot is understood about Sydney, the couple’s youngest youngster and solely son.
How lengthy have been Andrew Forrest and Nicola Forrest married?
The couple confirmed the top of their 31-year marriage in July 2023. Nevertheless, they made it clear that they don’t have any plans to divorce, however simply to reside separate lives.
“Our friendship and dedication to our household stays robust,” they mentioned in a joint assertion to The Australian Monetary Evaluate.
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 provide the vast majority of it to worthy causes.
He and Nicola have been the primary Australians to signal Warren Buffett’s Giving Pledge –– a vow to provide away most of their wealth throughout their lifetimes. Different signees embrace Elon Musk and Invoice Gates.
Nearly all of his wealth comes from his stake in Fortescue, through which the couple maintain a greater than one-third curiosity.
Inside Andrew Forrest and Nicola Forrest’s cut up
On July twelfth, 2023, the couple gave a joint assertion to the Australian Monetary Evaluate saying their resolution to half methods. “After 31 years of marriage, we now have made the choice to reside aside,” they mentioned.
The couple insist that all the things stays amicable, and so they proceed to have a shared imaginative and prescient about their firms.
“We’ll proceed our shared mission to create and present our wealth to sort out neighborhood and world challenges, as lately proven by final month’s donation of one-fifth of our Fortescue shareholding to Minderoo Basis,” learn their joint assertion.
The couple confirmed their cut 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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