Andrew Forrest, Chairman of Minderoo Foundation, has been honored by the EY Entrepreneur Of The Year™ (EOY) Global Alumni Council with the 2018 EY Entrepreneur Of The Year Alumni Social Impact Award. The honor distinguishes Forrest, as an EOY alumnus, who in addition to achieving outstanding success in business, has made an innovative, significant and lasting societal impact in communities globally. The EY Entrepreneur Of The Year Alumni Social Impact Award recognizes the achievements of business leaders who have taken their legacy to new levels.
The award is peer-selected by a group of EOY alumni known as the EY Entrepreneur Of The Year™ Global Alumni Council. 2018 Council members are:
- Rebecca MacDonald, Just Energy Group Inc. – Canada
- Steve Papermaster, Nano Vision - United States
- Jack Cowin, Competitive Foods Australia Pty Ltd – Australia
- Dr. Kar Wong, Advanced Group of Companies – Singapore
- Rosaleen Blair, Alexander Mann Solutions – United Kingdom
Forrest is globally renowned for founding and building Fortescue Metals Group within one of the most protected and exclusive industries in the world. In just 15 years, he has led the company – first as CEO and now as Chairman – to become the fourth-largest iron ore miner in the world. The company invested more than US$22b in the Australian resources sector and through rapid repayment of corporate debt, Forrest is still the major shareholder.
Forrest and his wife, Nicola, founded the Minderoo Foundation in 2001. Since then it has supported more than 250 initiatives in Australia and internationally in fields including ending modern slavery and indigenous disadvantage, eliminating cancer, responding to disasters, advancing cutting-edge research, studying and implementing early childhood development practices in communities, and supporting the environment and the arts.
In 2017, the Forrests donated AUD$400m of their personal wealth – the largest ever donation by a living Australian. The significant philanthropic donation, unveiled in Parliament House by the Australian Prime Minister, the Hon Malcolm Turnbull, is consistent with the Forrests’ obligations to The Giving Pledge, where they pledged to give away their personal wealth to philanthropic causes in their lifetime. The Forrests were the first Australian signatories to this global pledge.
Bryan Pearce, EY Global Leader – EY Entrepreneur Of The Year™, says:
“Over many years, Andrew has demonstrated a genuine commitment to alleviating the plight of millions of the world’s most vulnerable people. Through his philanthropic works, Andrew is leaving a lasting and exceptional legacy thanks to his entrepreneurial and innovative spirit.”
Andrew Forrest, Chairman of Minderoo Foundation, says:
“I am honored to receive this recognition and accept it on behalf of all of the causes Minderoo champions. Entrepreneurship and philanthropy are incredibly compatible. Both require determination, innovation and a desire to create lasting and positive change. It is important each of us does everything we can to improve our communities – whether it is through giving time, energy or capital. Individually, we can all be change agents and together we can make a lasting difference.”
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About EY Entrepreneur Of The Year™
EY Entrepreneur Of The Year™ is the world’s most prestigious business awards program for entrepreneurs. The program makes a difference through the way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global awards program of its kind, Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 145 cities in more than 60 countries. ey.com/eoy