Australia's Richest Man Says He'll Give It All Away

August 07, 2008

Australia's Richest Man Says He'll Give It All Away

Andrew Forrest, Australia’s richest man, says he’ll give away nearly all of his fortune before he dies, reports PerthNow.

Mr. Forrest, who owns the Fortescue Metals Group, is worth an estimated $8-billion. Speaking at a business conference, he said, “I have a philosophy [about wealth] and that is that it doesn’t do much for you.”

He did not say who would be the recipients of his billions of dollars, but he has supported the Australian Children’s Trust in the past and has been active on issues surrounding Aborigines.

Comments

The jewel within this announcement is the signalling of Andrew Forrest to Australia’s business community that he is inspired by philanthropy…this will impact on attitudes in our country where, by and large, the wealthy do not engage to any great degree in philanthropy. It cannot change our culture overnight but with such role modelling we are heading in the right direction.

— Kym Madden Aug 7, 08:07 PM #
Mr. Forrest help us rebuild the lives of Iraqi children. We are Americans, private citizens who want to repair the damage done.

— Ruth Friend Aug 9, 01:34 AM #
what about stimulating economic growth/ business, So many people have great Idea’s, and would love to work but do not have the start up capital.

— what about stimulating economic growth? So many people who have great Idea's, would love to work but do not have the start up capital. Aug 11, 06:25 PM #
Dear Mr. Forest,
We are in the process of setting up a Holistic Palliative Care Centre in a Rural District in South India. Can you help ?

— Ms. Deepa Muthaiya Aug 20, 11:08 AM #

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