Australian mining billionaire Nicola Forrest pledges $500 million to charitable causes
Nicola Forrest committed $500 million to her foundations, targeting early childhood, women and First Nations initiatives.
Australian mining billionaire Nicola Forrest announced a $500 million donation to her charitable entities, consisting of $125 million in cash and 25 million Fortescue shares to the Coaxial Foundation, plus an additional 25 million shares allocated to Coaxial Ventures. The contribution is aimed at improving early childhood development, supporting women entrepreneurs, and assisting Indigenous children. Forrest, estimated at roughly $17 billion and ranked seventh on national wealth lists, said the growing divide between opportunity and poverty drives her giving.
The share portion represents half of the stock she received in the 2023 separation from Fortescue founder Andrew Forrest. Ongoing dividends from Fortescue shares will also fund the Coaxial Foundation. She declined to comment on whether her divorce has been finalised.
Why it matters
A $500 million private donation could significantly impact education, gender equity and Indigenous support in Australia.
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