#7 Andrew Forrest


John Andrew Henry Forrest AO (born 1961), nicknamed Twiggy, is an Australian businessman. He is best known as the former CEO (and current non-executive chairman) of Fortescue Metals Group (FMG), but also has interests elsewhere in the mining industry and in cattle stations.

With an assessed net worth of A$6.84 billion according to the 2017 Financial Review Rich List, Forrest was ranked within the top ten richest Australians.  He was the richest person in Australia in 2008.  In 2013, Forrest and his wife, Nicola, were the first Australians to pledge the majority of their wealth to charity in their lifetimes.  He had earlier stepped down as CEO of Fortescue Metals in 2011 in order to spend more time on philanthropic pursuits.  Much of his philanthropy has been through either the Minderoo Foundation (focusing on education and Indigenous Australians) or the Walk Free Foundation (focusing on ending modern slavery), both of which he established. In 2014, Forrest and his wife, Nicola, pledged $65 million over 10 years through the Minderoo Foundation, establishing the Forrest Research Foundation to offer scholarships to students pursuing a PhD at a Western Australian university.

In 2008 Forrest appeared on the BRW Rich 200 list, with a net worth of A$9.41 billion.  In subsequent years, his wealth has varied significantly as a result of variances in Australian resources sector prices. In 2016, according to Forbes Asia, Forrest’s wealth was assessed at US$1.24, making him the 22nd wealthiest Australian.  In 2017 his net worth, according to the Financial Review Rich List, was A$6.84 billion, ranking him as the sixth wealthiest Australian.