Up $11bn, Forrest has a profitable pandemic

Original article by John Stensholt
The Australian – Page: 15 : 22-Jul-20

The share price of pure-play iron ore miner Fortescue Metals Group has more than doubled since March. Its market capitalisation topped $51bn on 21 July, making it one of the 10 biggest companies on the Australian sharemarket. Fortescue’s founder Andrew Forrest is now estimated to have total wealth of about $20bn, with the value of his stake in the company having increased by more than $11bn since the coronavirus-induced sharemarket rout in mid-March. Forrest and his wife are also high-profile philanthropists, having donated more than $2bn to their Minderoo charitable foundation.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, THE MINDEROO FOUNDATION PTY LTD

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