{"id":18461,"date":"2019-04-08T15:15:08","date_gmt":"2019-04-08T12:15:08","guid":{"rendered":"https:\/\/www.ibtdi.com\/?p=18461"},"modified":"2019-04-08T07:03:25","modified_gmt":"2019-04-08T04:03:25","slug":"andrew-forrest","status":"publish","type":"post","link":"https:\/\/www.ibtdi.com\/en\/andrew-forrest\/","title":{"rendered":"Andrew Forrest: From Stockbroker to Australia\u2019s Richest Man"},"content":{"rendered":"

\"\u00d9\u2020\u00d8\u00aa\u00d9\u0160\u00d8\u00ac\u00d8\u00a9<\/p>\n

He is popularly known as \"Twiggy\" Forrest and served as the former CEO of Fortescue Metals Group, which owns many\u00a0 <\/span>projects in the industries of <\/span><\/p>\n

mining and cattle stations based in Perth, Australia. He is the current non-executive chairman <\/span>of the group. Forrest entered the list of the richest businessmen in the <\/span><\/p>\n

world, with his net worth in 2017 reaching more than 6.84 billion <\/span>US dollars. He was the wealthiest businessman in Australia in 2008 and 2013, <\/span><\/p>\n

and is ranked among the top ten <\/span>richest people in Australia by BRW magazine.<\/span><\/p>\n

\n

.<\/p>\n<\/blockquote>\n

Forrest was born on August 2, 1961, in Perth, Australia. He faced speech difficulties during his childhood but overcame them, graduated from Hale School, and completed his studies <\/span><\/p>\n

at the University of Western Australia, earning a Bachelor's degree in Economics and Politics.<\/span><\/p>\n

He began his career after graduation, working as a stockbroker at Kirke & Mackinnon (or Kirk and Jacksons Securities). When he turned thirty, he founded Anaconda Nickel, <\/span><\/p>\n

currently known as Minara Resources, and served as the company's CEO. The company grew significantly to become one of the largest mineral <\/span><\/p>\n

exporters in Australia, alongside the Murrin Murrin joint venture.\u00a0<\/span><\/p>\n

\n

.<\/p>\n<\/blockquote>\n

In 2003, he acquired joint mining and processing projects, combining them into a single group called Fortescue Metals Group, and he remains <\/span><\/p>\n

a major shareholder in \u201cFMG<\/span>\u201d through his private company, Minderoo Group (or Metal Group). In 2007, he managed to acquire Niagara Mining.<\/span><\/p>\n

In 2009, Forrest purchased Minderoo Station, which was previously family-owned, and he also purchased Nattawarda and Waro stations in 2014. Forrest's total <\/span><\/p>\n

pastoral holdings exceeded 10,000 square kilometers. He subsequently acquired Harvey Beef, a meat processing company in Western Australia that <\/span><\/p>\n

was the only company certified to export to China until 2014.\u00a0<\/span><\/p>\n

.<\/p>\n

\n

\n<\/blockquote>\n

Forrest faced numerous issues and confrontations with Australian government authorities regarding his mining company, which ultimately led him to <\/span><\/p>\n

step down as the company's CEO and become its non-executive chairman. Forrest has received numerous awards and honors, including at the Western Australian <\/span><\/p>\n

Business News Pinnacle Awards in 2014, and being named Ernst & Young's Social Entrepreneur of the Year in 2011.<\/span><\/p>\n

.<\/p>\n

Forrest and his wife are among the most prominent philanthropists in Australia, having signed the Giving Pledge in 2013. He established the <\/span><\/p>\n

Fortescue Vocational Training and Employment Centre, affiliated with the group, with the aim of providing Indigenous community members with skills and foundations for work in the mining industry. He donated <\/span><\/p>\n

approximately 65 million dollars to develop higher education in Western Australia, established a children's charity, provided support to his alma mater Hale School, and <\/span><\/p>\n

donated the proceeds from the sale of 5,000 tons of iron ore to Chinese relief efforts after China suffered a devastating earthquake.<\/span><\/p>","protected":false},"excerpt":{"rendered":"

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