Live stream: Billionaire Andrew Forrest and family make largest single donation in Australian history
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Billionaire Andrew “Twiggy” Forrest and his family will donate $400 million, in the biggest single philanthropic gift by a living person in Australia’s history.
Prime Minister Malcolm Turnbull said the donation put forward by Andrew Forrest and his wife Nicola will be a “game changer” to the nation.
"It will change the lives of thousands of people here in and around the world," Mr Turnbull said.
The mining and business magnate has now cemented himself as the most generous donor in Australian history.
Mr Turnbull said the funding would go to cancer research, equality of opportunity, fighting slavery and higher education.
Mr Forrest said the $400 million was a very large proportion of what he and his wife Nicola earned.
<img src="
http://imageresizer.static9.net.au/NYdC8U_7CUJVfeUTHbhoh77_RJ8=/718x0/http://prod.static9.net.au/_/media/2017/05/22/07/51/170521_forrest.ashx?w=603" alt="West Australia 2017 Australian of the Year finalist Andrew &#39;Twiggy&#39; Forrest poses for a portrait at a reception at Government House in Canberra. (AAP)" />
West Australia 2017 Australian of the Year finalist Andrew 'Twiggy' Forrest poses for a portrait at a reception at Government House in Canberra. (AAP)
"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.
There was an irony in the fact Australians have the most naturally generous hearts and mateship attitude but there was a cynicism about philanthropy.
He recalled his first public donation after years of secretive pledges.
"The immediate response was that's been done for tax and it had nothing to do with tax," Mr Forrest said.
The announcement at Parliament House in Canberra was also attended by Opposition Leader Bill Shorten and film star Russell Crowe.
It's not the first time the Forrest family has made a major philanthropic donation.
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.
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.
© Nine Digital Pty Ltd 2017
Read more at
http://www.9news.com.au/national/20...nt-philanthropic-donation#APToXlPjTbuo6pcT.99
Of course there will still be the cringe worthy knockers with a "tall poppy syndrome" who will say it's a drop in the ocean from a billionaire. You know, the usual Green types who have never worked a day in their life and those who are envious of Forrest's wealth.
Here is a man who creates jobs and wealth whilst governments waste billions.
