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Tuesday, August 11, 2020
Home Fortune 500 Andrew Forrest Biography: Success Story of Fortescue Metals Group CEO

Andrew Forrest Biography: Success Story of Fortescue Metals Group CEO

In this success post, we are going to share the story of Andrew Forrest, born in 1961. He is a mining magnate based out of Perth, Australia. He was the CEO of Fortescue Metals Group or FMG, and as of now, serves as a group non-executive chairman.

As of 2019, Andrew was at the 198th on the Forbes Billionaire List, with a net worth of $8 billion. He was also the richest individual in Australia in 2008 and is ranked within the top ten richest Australians by BRW Magazine.

Andrew Forrest Early Life

Andrew was born in Perth, Australia. He was the youngest of three children, and the great-nephew of the first western Australian Premier, John Forrest. His great grandfather was a part-owner of the Minderoo Station, where Andrew Forrest spent too much of this early years, working as a Jackeroo on the family branch

He suffered from a speech impediment since childhood, which meant ‘if I had to get up and answer a question in a classroom, well, I was toast.’

This was a battle that Andrew Forrest eventually won. At Hale School, he finally confronted his stutter, overcoming it with determination and effort. After school, he was a student at the University of Western Australia, graduating with a double major in economics and politics.

Andrew Forrest Early career

After his graduation, Andrew worked as a stockbroker at Kirke Securities and Jacksons. By the time he was in the early thirties, he had founded the Anaconda Nickel, today known by the name as Minara Resources, and become its CEO. Today, Minara Resources has become one of the largest single mineral exports in Australia, due to the Murrin Joint Venture Project.

Andrew Forrest Subsequent Career

Andrew took over the Allied Mining and Processing in 2003. It was then renamed Fortescue Metals Group. Today, FMG controls major deposits in the areas of Tonglo, Cloudbreak, Christmas Creek, and Mount Nicholas. Andrew remains a major shareholder through the Metal group, which is a private company that he controls. Then in 2007, he acquired the Niagara Mining.

Andrew Forrest Personal Life

Andrew is married to Nicola Forrest, and they have three children together. He is a Christian by faith, and in 2014 participated in a joint Religious Leaders Declaration Against Modern Slavery at Vatican City.

His many friends include the media tycoon Rupert Murdoch and Olympic Sprinter Cathy Freeman. Other than his entrepreneurial activities, he serves as an Adjunct Professor at Chinese Southern University. He is also an enthusiastic amateur boxer and owns a luxury Yacht.

Also Read: Sunil Mittal Biography: Success Story of Airtel CEO

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