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Effective URL: https://www.news.com.au/finance/work/leaders/billionaire-andrew-twiggy-forrest-is-giving-away-hundreds-of-millions-of-do...
Submission: On June 20 via api from IL — Scanned from AU
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Deals of the Week 8:59PM Thursday, June 20th, 2024 In the know quiz Sydney Today 5 °/ 17 ° SET YOUR LOCAL WEATHER Sign Up Log In * My account * Sign Out * National * BREAKING NEWS * POLITICS * CRIME * COURTS & LAW * NSW & ACT * Politics * Crime * Courts & Law * QUEENSLAND * Politics * Crime * Courts & Law * VICTORIA * Politics * Crime * Courts & Law * SOUTH AUSTRALIA * WESTERN AUSTRALIA * NORTHERN TERRITORY * TASMANIA * WEATHER * World * BREAKING NEWS * PACIFIC * ASIA * NORTH AMERICA * US Politics * SOUTH AMERICA * AFRICA * MIDDLE EAST * EUROPE * UK Politics * Lifestyle * HEALTH * Health Problems * Mental Health * Wellbeing * Diet * FITNESS * Inspiration * Weight Loss * Exercise * PARENTING * Pregnancy * Babies * Kids * Teens * School Life * FOOD * Eat * Drink * Restaurants & Bars * Food Warnings * RELATIONSHIPS * Dating * Sex * The Sealed Section * Marriage * Family & Friends * FASHION * Fashion Shows * Designers * Fashion Trends * Celebrity * BEAUTY * Face & Body * Cosmetic Surgery * HOME * Interiors * Outdoors * DIY * Pets * REAL LIFE * True Stories * Good News * News Life * LIFESTYLE VIDEOS * HOROSCOPES * Travel * TRAVEL IDEAS * Cruises * Luxury * Adventure * Short Breaks * Ski & Snow * Road Trips * Food & Drinks * DESTINATIONS * Pacific * Asia * North America * Europe * New Zealand * Africa * Middle East * Central America * South America * TRAVEL ADVICE * Tips & Tricks * Flights * Accommodation * Money * Airports * AUSTRALIAN HOLIDAYS * NSW & ACT * Northern Territory * Queensland * South Australia * Tasmania * Victoria * Western Australia * TRAVEL VIDEOS * Entertainment * CELEBRITY LIFE * Hook Ups & Break ups * Celebrity Photos * Celebrity Kids * Celebrity Deaths * Royals * CELEBRITY STYLE * Red Carpet * TV & RADIO * TV Shows * Reality TV * Streaming * Radio * Morning Shows * Current Affairs * Flashback * MOVIES * Upcoming Movies * New Movies * Movies Reviews * MUSIC * Music Festivals * Tours * BOOKS & MAGAZINES * Books * Magazines * AWARDS * Oscars * Golden Globes * Grammys * ARIAS * Logies * Emmys * ENTERTAINMENT VIDEOS * Technology * ONLINE * Social Media * Security * Internet * Hacking * GADGETS * Mobile Phones * Tablets * Cameras * Wearables * HOME ENTERTAINMENT * TV * Computers * Audio * GAMING * SCIENCE * Space * Archaeology * Human Body * Animals * ENVIRONMENT * Climate Change * Sustainability * Natural Wonders * INNOVATION * Inventions * Design * MOTORING * Motoring News * New Cars * Luxury * HiTech * Car Advice * On the Road * TECHNOLOGY VIDEOS * Finance * WORK * At Work * Careers * Leaders * BUSINESS * Breaking News * Technology * Banking * Travel * Retail * Manufacturing * Media * Other Industries * MONEY * Costs * Investing * Budgeting * Wealth * Tax * ECONOMY * Australian Economy * World Economy * Interest Rates * Federal Budget * REAL ESTATE * Selling * Buying * Renting * Sydney & NSW * Melbourne & VIC * Adelaide & SA * Perth & WA * MARKETS * Australian Markets * World Markets * Australian Dollar * SUPERANNUATION * Sport * AFL * NRL * CRICKET * Cricket Live Scores * TENNIS * MOTORSPORT * F1 * V8 Supercars * Moto GP * SPORTS LIFE * Champions * History * AMERICAN SPORTS * NFL * OLYMPICS * FOOTBALL * A-League * EPL * BOXING * UFC * GOLF * BASKETBALL * NBA * RUGBY * Wallabies * HORSE RACING * Expert Opinion * Tips * NSW Racing * VIC Racing * SA Racing * QLD Racing * WA Racing * Punter's Life * CYCLING * MORE SPORTS * SPORT VIDEOS * Shopping * SALES & DEALS * TECH * FASHION & ACCESSORIES * BEAUTY * HOME & GARDEN * LIFE * HEALTH & WELLBEING * COUPONS & DEALS * Finance * Work * Leaders BILLIONAIRE ANDREW ‘TWIGGY’ FORREST IS GIVING AWAY HUNDREDS OF MILLIONS OF DOLLARS MINING magnate Andrew “Twiggy” Forrest is worth $3 billion. Today he announced he will give away a huge chunk of his whopping fortune. less than 2 min read May 22, 2017 - 12:49PM AAP Andrew ‘Twiggy’ Forrest was the West Australia 2017 Australian of the Year finalist. More from Leaders MAJOR ANNOUNCEMENT ON SPY CHIEF’S JOB EX-QANTAS BOSS FIGHTS TO KEEP $16M PAYOUT ‘ANNIHILATION’: GRIM PREDICTION FOR PREMIER MINING billionaire Andrew “Twiggy” Forrest will make Australia’s single biggest philanthropic donation with $400 million for a variety of social and scientific causes. The announcement was made this morning at a ceremony hosted by film star Russell Crowe and attended by Prime Minister Malcolm Turnbull and Opposition Leader Bill Shorten at Parliament House in Canberra. “It will change the lives of thousands of people here in and around the world,” Mr Turnbull said. This is how the donation will be distributed: • $75 million for coordinating world cancer institutes to make lethal cancer history for the coming generation. • $50 million towards building stronger communities. • $75 million for higher education and breakthrough research. • $75 million towards giving every child their best chance. • $50 million towards creating equality of opportunity amongst all Australians. • $75 million towards removing modern slavery from human history. Mr Forrest said the $400 million was a very large proportion of what he and his wife Nicola earned. Australian billionaire Andrew Forest and wife Nicola are set to make history. “We’re doing it because it’s very timely in all of the fields which we’re donating to,” he said. Mr Forrest admits America has a much stronger philanthropic culture than Australia, but times are changing. The 55-year-old and his wife Nicola established the Minderoo Foundation in 2001, with the ethos that “by giving a hand up, not a hand out, we can empower communities”. Minderoo has supported more than 250 initiatives both within Australia and internationally, including fighting modern slavery, ending Indigenous disadvantage, and ensuring all children in Australia “thrive by five”. The Forrests and daughter Grace founded the Walk Free Foundation in 2012, which aims to end slavery, which affects more than 45 million people. Mr Forrest built his fortune in mining after founding Anaconda Nickel Ltd, now known as Minara Resources, in 1994, before founding Fortescue Metals Group in 2003, the world’s fourth largest and Australia’s third-largest iron ore miner behind BHP Billiton and Rio Tinto. He is chairman of Fortescue, having stepped down as CEO in 2011 to focus on philanthropic work. This year, he was Western Australia’s finalist for Australian of the Year. One of Australia’s richest men, the late Paul Ramsay, left most of his $3 billion fortune to charity in 2014. * * * SPONSORED Team sport helping kids with anxiety SPONSORED Hacks to reduce your grocery bill Read next Skip Ads by More related stories Leaders MAJOR ANNOUNCEMENT ON SPY CHIEF’S JOB The Albanese government has announced the head of Australia’s top security agency Mike Burgess has been reappointed for another term. Read more Leaders EX-QANTAS BOSS FIGHTS TO KEEP $16M PAYOUT The former boss of Qantas Alan Joyce is “fighting hard” for a multimillion dollar bonus after a series of high profile disasters left the airline red faced. Read more Leaders ‘ANNIHILATION’: GRIM PREDICTION FOR PREMIER Queensland Premier Steven Miles has placed an $11 billion bet on his political future ahead of the state election, but insiders say the gamble is doomed to fail. 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