The Minderoo Foundation is an Australian charity organisation.
History
editIn 2001, Andrew and Nicola Forrest established The Australian Children’s Trust which evolved into the Minderoo Foundation.[1]
In 2017, the Forrests donated $400 million to the Minderoo Foundation followed by another $520 million in 2020.[2] In 2023, they donated $5 billion worth of Fortescue shares to the foundation, the largest single charitable donation in Australian history.[3]
In October 2022, chief executive Andrew Hagger left the foundation and John Hartman, who had been the foundation's chief investment officer, took on the role.[4] Under Hartman, Minderoo adjusted its strategy to work on fewer issues, have an Australia-first approach and a stronger focus on working with other organisations.[5] A restructure of the foundation in April 2024 led to the axing of about 100 jobs and the consolidation of several international offices.[6] In October 2024, the Forrests stepped down as co-chairs of the Minderoo Foundation but retained their board seats.[7] Allan Myers, who had been on the board since 2014, took over as chairperson.[8] In December 2024, the Minderoo Foundation invested $100 million to seed Future Generation Women, a new women-focused fund by Future Generation.[9]
References
edit- ^ Thompson, Brad (11 September 2020). "Nicola Forrest, the woman with $20b to give away". Australian Financial Review. Archived from the original on 2 December 2023. Retrieved 15 January 2025.
- ^ Murphy, Katharine (21 May 2017). "Andrew Forrest gives away large part of his fortune in $400m donation". The Guardian. ISSN 0261-3077. Retrieved 15 January 2025.
- ^ Muroi, Millie (21 June 2023). "Andrew and Nicola Forrest donate $5 billion in Fortescue shares". The Sydney Morning Herald. Retrieved 15 January 2025.
- ^ Milne, Peter (24 October 2022). "Andrew Forrest loses boss of his private empires". The Sydney Morning Herald. Retrieved 15 January 2025.
- ^ Milne, Peter (15 April 2024). "Forrests' $10 billion Minderoo charity to slash 100 jobs". WAtoday. Retrieved 15 January 2025.
- ^ Rauso, Adrian (15 April 2024). "Andrew and Nicola Forrest's Minderoo to cull 100 roles". The Nightly. Retrieved 15 January 2025.
- ^ Thompson, Brad (17 November 2024). "Andrew and Nicola Forrest step down as co-chairs of Minderoo Foundation". The Australian. Retrieved 24 December 2024.
- ^ Burmas, Grace (17 October 2024). "Andrew, Nicola Forrest to step down from philanthropic organisation Minderoo, a year after separating as a couple". ABC News. Retrieved 15 January 2025.
- ^ "Forrest-backed all-female fund wants to change a pale, male industry". Australian Financial Review. 4 December 2024. Retrieved 15 January 2025.
External links
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