What would you do with a cool $400 million? If you’re one of Australia’s iron ore magnates, you’d give it to charity of course.
Along with his wife Nicola, Andrew ‘Twiggy’ Forrest, the chairman of Fortescue Metals Group and the country’s third most wealthy citizen, has announced a notably generous donation of $400 million. While obviously far from being small change, Andrew’s donation is the biggest philanthropic donation by a living person in Australia’s history and intends to split the money between several important areas: approximately $75 million is expected to go to cancer research, $75 million to tackle modern slavery, $50 million towards reversing Indigenous disparity and another $75 million for higher education, for example.
Far from being the first donation for the entrepreneur, Andrew and his wife have a history of philanthropic generosity: last year, Andrew was named West Australia’s 2017 Australian of the Year award and through Mindaroo – the foundation established by both Andrew and Nicola in 2001 – has assisted more than 250 initiatives globally focusing on fighting modern slavery and helping the disadvantaged.
“It is a game changer in the Australian philanthropic community,” commented Prime Minister Malcolm Turnbull. “And it will change the lives of thousands of people here in and around the world.”