Andrew Forrest Net Worth

Andrew Forrest has an estimated net worth of $16.3 billion, according to Forbes Real-Time Billionaires, Andrew Forrest profile (figures as of October 20, 2026). That is up from $5.4 billion in 2019.

Andrew Forrest is an Australian businessman best known for founding Fortescue in 2003 and serving as its current executive chairman. He first worked as a stockbroker, then became founding CEO of Anaconda Nickel in 1993 after buying a stake in the company. His biggest break came when he took control of Allied Mining and Processing in April 2003, renamed it Fortescue Metals Group, and built it into one of Australia's largest companies.

Most of Forrest's wealth comes from mining, especially iron ore through Fortescue. The company made its first iron ore shipment to China in May 2008 and later lifted capacity to 155 million tonnes per annum through a $9.2 billion expansion in 2014. He also controls private investments through Tattarang, which includes businesses in energy, resources, property, health technology, lifestyle, and agri-food. Forbes put his net worth at $16.3 billion on October 20, 2026.

How Andrew Forrest built his fortune

Forrest made his name in mining, but his path started in finance. After work as a stockbroker, he became founding CEO of Anaconda Nickel in 1993. In April 2003, he took control of Allied Mining and Processing, which held rights to Pilbara iron ore, and turned it into Fortescue Metals Group. He remains a major shareholder through his private company, The Metal Group, while also serving as Fortescue's executive chairman.

His money now comes from both public and private business interests. Fortescue is the core asset, and the company shipped its first iron ore to China in May 2008. Outside mining, Tattarang holds interests across agri-food, energy, health technology, property, resources, and lifestyle. One of its biggest moves came in 2022, when privately held Squadron Energy paid an estimated A$4 billion for CWP Renewables. In September 2024, he also struck a $2.8 billion deal for electric mining equipment.

Forbes net worth timeline

Forbes has tracked big swings in Forrest's fortune over time. It estimated his wealth at $5.4 billion in 2019, then $6.7 billion in 2020. The sharpest jump came in 2021, when Forbes valued him at $20.4 billion. That period matched strong momentum at Fortescue, and in August 2021 it was announced that Forrest would receive a $2.4 billion dividend on the company's record profit.

The Forbes estimate then moved between $17.8 billion in 2022, $19.6 billion in 2023, $19 billion in 2024, and $14.4 billion in 2025 before climbing to $20.3 billion in 2026. Forbes' real-time tracker later showed $16.3 billion in October 2026. Alongside Fortescue, Forrest has kept expanding into energy and other sectors through Tattarang, including Austal and Squadron Energy, which helps explain why his wealth story reaches beyond iron ore alone.