Forrest tips a further $11m into FMG

Andrew Forrest has purchased a further 2 million shares in Fortescue Metals Group at a cost of $10.99 million, further cementing his position as the biggest wealth creator in Western Australia.

Last week, the Business News annual survey of company directors and others with large stakes in WA-listed companies showed that Mr Forrest had retained his position at the top of the table.

Following today's transaction, Mr Forrest now holds 1.03 billion shares in the WA iron ore miner he founded worth $5.59bn.

FMG shares are currently trading at $5.44 each.