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#98
#98

Andrew Forrest

Australia

Net Worth

$10B

Source of Wealth

Fortescue Metals Group

Global Rank

#98 of 100

About Andrew Forrest

Andrew 'Twiggy' Forrest is one of Australia's most dynamic business leaders and philanthropists, best known as the founder and chairman of Fortescue Metals Group, which he built from nothing into one of the world's largest iron ore producers. His extraordinary determination in the face of seemingly insurmountable obstacles — including securing financing and building massive infrastructure in remote Western Australia — makes his story one of the most remarkable entrepreneurial achievements in the history of the global mining industry. Forrest's willingness to take on entrenched competitors and his refusal to accept that something couldn't be done have defined his career.

Forrest founded Fortescue Metals in 2003 with a vision to become the third major iron ore producer in Australia's Pilbara region, challenging the decades-long dominance of BHP and Rio Tinto. Building the mines, ports, and rail infrastructure necessary to export iron ore from some of the most remote terrain on Earth required billions in capital and a level of logistical execution that many industry veterans said was impossible. Forrest proved them wrong, and Fortescue grew into a company producing over 190 million tonnes of iron ore annually, creating thousands of jobs and generating enormous value for shareholders.

In recent years, Forrest has become one of the world's most passionate and active advocates for renewable energy and green hydrogen. Through Fortescue Future Industries, he has committed to making Fortescue a net-zero company and is investing billions in green energy projects across the globe. His philanthropic work through the Minderoo Foundation, which he co-founded with his wife Nicola, has directed over $2 billion toward combating slavery and human trafficking, ocean conservation, wildfire resilience, and Indigenous Australian communities. Forrest's combination of business boldness, environmental vision, and philanthropic generosity makes him one of the most impactful business leaders of his generation.

Key Achievements

Built Fortescue Metals from Scratch

Founded and built Fortescue Metals Group into one of the world's largest iron ore producers, overcoming enormous logistical and financial challenges in remote Western Australia.

Green Hydrogen Pioneer

Through Fortescue Future Industries, became one of the world's largest investors in green hydrogen technology, committing to make Fortescue carbon neutral.

Minderoo Foundation

Co-founded the Minderoo Foundation with wife Nicola and committed over $2 billion to philanthropic causes including anti-slavery, ocean health, and Indigenous welfare.

Australia's First Giving Pledge Signatory

Became the first Australian to sign the Giving Pledge, committing to donate the majority of his wealth to philanthropic causes.

Walk Free Foundation

Founded the Walk Free Foundation and the Global Slavery Index, bringing unprecedented attention and resources to the fight against modern slavery worldwide.

Notable Quotes

The biggest risk in life is not taking one. If you don't have a go, you'll never know what's possible.

Andrew Forrest

Green energy is the greatest economic opportunity of our lifetime. The countries and companies that move fastest will win.

Andrew Forrest

I've been told things are impossible more times than I can count. And every single time, I've set out to prove the doubters wrong.

Andrew Forrest

Key Decisions

2003

Founded Fortescue Metals Group with the audacious goal of becoming the third major iron ore producer in Western Australia's Pilbara, challenging BHP and Rio Tinto.

2008

Shipped Fortescue's first iron ore from the Pilbara, marking the successful completion of one of the most ambitious mining infrastructure projects in Australian history.

2013

Signed the Giving Pledge with wife Nicola, committing to donate the majority of their wealth and establishing the Minderoo Foundation as their philanthropic vehicle.

2020

Launched Fortescue Future Industries with billions in committed investment to develop green hydrogen and renewable energy projects around the world.

2021

Set Fortescue's target to achieve real net-zero emissions by 2030, one of the most ambitious decarbonization commitments by any major resources company.

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