Andrew and Nicola Forrest, believed to be Australia’s richest couple, have introduced their separation after 31 years of marriage.
There is no unhealthy blood between the pair; in a joint assertion they acknowledged 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 at the start the chairman of Fortescue Metals Group (FMG), one of many world’s main iron ore mining corporations.
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 observed that the worth of metal was steadily rising yearly. He began his first mining firm, Anaconda Nickel (now referred to as Minara Assets), in 1994.
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He is additionally closely concerned in charity work and philanthropy, operating a charitable organisation referred to 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 line with two calculations of wealth this yr, behind Gina Rinehart.
Who’s 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 one in all Australia’s foremost philanthropists, and the CEO of the Minderoo Basis. She collectively owns shares in her husband’s corporations, Fortescue and Tattarang.
A spokeswoman for the forme stated that regardless of the Forrests’ cut up, there might be no change to the operation. “There isn’t a change to the possession construction, management or route of Fortescue,” she stated.
“Andrew Forrest and Nicola Forrest share the identical imaginative and prescient for Fortescue to change into the world’s main inexperienced power and inexperienced metals firm main international heavy trade to sort out local weather change.”
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Who’re Andrew and Nicola Forrest’s youngsters?
The couple share three youngsters of their 20s –– Sophia, Grace, and Sydney.
The Forrests have beforehand revealed that their youngsters wont finally be the recipients of their excessive wealth. The fortune as a substitute might be shared amongst a spread of charitable causes, together with Indigenous help, schooling reform and most cancers analysis.
“The issues which might be most vital in life, cash would not purchase that,” Nicola instructed Australian Story. “Youngsters do not profit from pondering 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 underneath the household’s philanthropic enterprise, the Minderoo Basis, which is targeted on abolishing trendy slavery.
“Trendy slavery permeates each facet of our society,” she stated. “It’s woven by means of our garments, lights up our electronics, and seasons our meals. At its core, trendy 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 12 months 2021 for her antislavery work.
Sophia Forrest
Their daughter, Sophia Forrest, is an actress who has had roles in Love Baby and Aquaman. Final yr she received engaged to her long-term girlfriend and fellow actor Zara Zoe. The couple reportedly met after they had been each solid within the 2018 Michelle Payne biopic Experience Like A Lady.
She stated of the queer storyline in her ABC present Barons: “You possibly can’t know what you possibly can’t see. ‘In case you’re consistently watching heteronormative storylines, you possibly can’t join with, possibly a queer storyline that would aid you perceive who you might be,” Sophia stated.
In the meantime, not a lot is understood about Sydney, the couple’s youngest youngster and solely son.
How lengthy had 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 haven’t any plans to divorce, however simply to stay separate lives.
“Our friendship and dedication to our household stays robust,” they stated in a joint assertion to The Australian Monetary Assessment.
Andrew Forrest’s web 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 web price is round $30 billion AUD, although he is pledged to present the vast majority of it to worthy causes.
He and Nicola had been the primary Australians to signal Warren Buffett’s Giving Pledge –– a vow to present away most of their wealth throughout their lifetimes. Different signees embody Elon Musk and Invoice Gates.
The vast majority of his wealth comes from his stake in Fortescue, by 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 Assessment saying their resolution to half methods. “After 31 years of marriage, we’ve got made the choice to stay aside,” they stated.
The couple insist that all the pieces stays amicable, they usually proceed to have a shared imaginative and prescient about their corporations.
“We’ll proceed our shared mission to create and reward our wealth to sort out neighborhood and international challenges, as just 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 had been raised when half the possession of their flagship firm, Tattarang, and greater than $1.1 billion price of Fortescue shares had been moved into a brand new firm, Coaxial Ventures, wholly owned by Nicola.
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