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Andrew Forrest to transfer $3.39bn stake in Fortescue to his philanthropic foundation

Reuters | June 20, 2023 | 4:26 pm Top Companies Australia Iron Ore 
Fortescue ends bitter green iron battle with Element Zero
Fortescue’s founder and largest shareholder, Andrew Forrest. (Image: Fortescue Metals Group.)

Fortescue Metals said on Wednesday executive chairman Andrew Forrest transferred ownership of 220 million Fortescue shares worth about A$5 billion ($3.39 billion) to Minderoo Foundation.

Minderoo Foundation is the philanthropic foundation of Andrew and Nicola Forrest.

($1 = 1.4732 Australian dollars)

(By Jaskiran Singh; Editing by Maju Samuel)

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