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Minderoo Foundation

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Australian charity organisation

The Minderoo Foundation is an Australian charity organisation.

History

In 2001, Andrew and Nicola Forrest established The Australian Children’s Trust which evolved into the Minderoo Foundation.

In 2017, the Forrests donated $400 million to the Minderoo Foundation followed by another $520 million in 2020. In 2023, they donated $5 billion worth of Fortescue shares to the foundation, the largest single charitable donation in Australian history.

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. 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. A restructure of the foundation in April 2024 led to the axing of about 100 jobs and the consolidation of several international offices. In October 2024, the Forrests stepped down as co-chairs of the Minderoo Foundation but retained their board seats. Allan Myers, who had been on the board since 2014, took over as chairperson. In December 2024, the Minderoo Foundation invested $100 million to seed Future Generation Women, a new women-focused fund by Future Generation.

References

  1. 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.
  2. 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.
  3. Muroi, Millie (21 June 2023). "Andrew and Nicola Forrest donate $5 billion in Fortescue shares". The Sydney Morning Herald. Retrieved 15 January 2025.
  4. Milne, Peter (24 October 2022). "Andrew Forrest loses boss of his private empires". The Sydney Morning Herald. Retrieved 15 January 2025.
  5. Milne, Peter (15 April 2024). "Forrests' $10 billion Minderoo charity to slash 100 jobs". WAtoday. Retrieved 15 January 2025.
  6. Rauso, Adrian (15 April 2024). "Andrew and Nicola Forrest's Minderoo to cull 100 roles". The Nightly. Retrieved 15 January 2025.
  7. Thompson, Brad (17 November 2024). "Andrew and Nicola Forrest step down as co-chairs of Minderoo Foundation". The Australian. Retrieved 24 December 2024.
  8. 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.
  9. "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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