Australian businessman John Andrew Henry Forrest AO, better known by his stage name Twiggy, was born on November 18, 1961. He is most recognized for serving as the former CEO and current non-executive chairman of Fortescue Metals Group (FMG), but he also has business interests in the mining sector and cattle ranching.
Forrest was listed as the second richest Australian on the Financial Review 2021 Rich List with an estimated net worth of A$27.25 billion.
Forrest, according to the Financial Review, was Australia's richest person in 2008.
The majority of Andrew and Nicola Forrest's wealth was donated to charity in 2013, making them the first billionaires in Australia to do so. In 2011, he resigned from his position as CEO of Fortescue Metals. The Minderoo Foundation, which focuses on education and Indigenous Australians, and the Walk Free Foundation, which focuses on eradicating modern slavery, were both founded by Forrest and have received the majority of his philanthropic contributions. After admitting in 2011 that Fortescue had never paid business tax, Forrest has been charged with evading payment.
Andrew Forrest filed a criminal case against Facebook in 2022, claiming that the company failed to forbid the use of his image in con advertisements linking his image to cryptocurrency investments. On March 28, the matter will be heard in the Western Australian Magistrates Court.
Forrest worked as a stockbroker at Kirke Securities and Jacksons after receiving his degree. In 1993, he acquired a stake in Anaconda Nickel and went on to become its first CEO. But in 2001, when the business was on the verge of failure, he lost his position as CEO. In the restructuring, US bondholders earned $0.26 for every dollar of debt. Before Glencore bought the company and changed its name to Minara Resources, the company's shares decreased
He took over Allied Mining and Processing in 2003 and changed its name to Fortescue Metals Group. Through his private company, The Metal Group, he is still a significant shareholder in FMG. Since then, the company has expanded to hold three times as many tenements in Western Australia's Pilbara region, which is rich in iron ore, as its closest competitor. At Mount Nicholas, Christmas Creek, Cloudbreak, and Tongolo, Fortescue has significant deposits. In 2007, he invested in and became a director of Niagara Mining Limited, now known as Poseidon Nickel Limited, which had purchased the Windara nickel deposits near Laverton, Western Australia, from WMC in 2006.
Born: 18 November 1961 Perth, Australia Career: businessman Net Worth: 17.3 billion USD