One of the wealthiest couples in Australia has announced their separation, but they are adamant that it won’t have an effect on their joint companies, such the massive mining company Fortescue Metals Group (FMG).
Millionaire philanthropists Andrew and Nicola Forrest announced their separation on Wednesday night in a statement. They had been married for more than three decades.
The statement read, “After 31 years of marriage, we have decided to live apart.”
“Our ties of friendship and loyalty to our families are still strong.
“Fortescue, Minderoo, or Tattarang’s operations, management, or direction are unaffected.
“We will continue to create wealth and give it away to address local and global challenges,” the statement reads.
Together, they hold 37% of FMG, which last year declared an after-tax net profit of $US6.2 billion ($9.2 billion).
The Minderoo Foundation and their private investment firm Tattarang are two of the couple’s joint commercial and charitable endeavours.
Their holdings include Camilla clothes, RM Williams, Harvest Road, and the energy, real estate, and resource industries.
Their transfer of one-fifth of their FMG shares to the Minderoo Foundation in June was highlighted in the statement announcing their split.
A business called Coaxial Ventures with Ms. Forrest as its only shareholder was registered the day before that donation was made public.
According to a filing to the ASX, the donation also indicated that Coaxial Ventures had received 50 million FMG shares.
Mr. Forrest, a mining mogul from Western Australia, was named as the second wealthiest person in Australia, behind Gina Rinehart, with a fortune valued at roughly $33.2 billion by the Australian Financial Review.
