Forrests lift Minderoo donations to $2bn

Andrew and Nicola Forrest have donated an additional $520 million to their philanthropic organisation Minderoo Foundation, bringing their total donations to $2 billion.

The additional funding will be allocated to the Minderoo Foundation’s most recent commitments, including its COVID-19 response, its Fire Fund, and an industry-focused initiative to end plastic waste called Sea the Future.

The funds will also allow for an expansion of the existing work of the foundation. 

Minderoo chair Andrew Forrest said Australia had seen the devastating impacts of bushfires and the global impact of COVID-19 during the past six months.

“It is incumbent upon us to help where we can,” he said.

“This additional funding will provide both the capacity and the flexibility to allow the foundation to continue its outstanding work and tackle new challenges as they arise for many years to come.

Minderoo co-chair Nicola Forrest said at a time when people around the world were hurting, the foundation was more determined than ever to step up and take on the most pressing global challenges.

“This additional funding will not only provide the capacity but also the flexibility to allow our foundation to continue the outstanding work it already does, but also to tackle new challenges as they arise and for many years to come,” she said.

Mrs Forrest said it was a privilege to be in a position to continue contributing to solving some of the world’s most intractable problems, and invited others to do the same.

“We continue to encourage other high-net-wealth individuals to commit their leadership, energy and wealth to the causes they are passionate about,” she said.

“The generosity we have seen from individuals, corporations and philanthropic organisations in responding to Australia’s recent bushfire crisis and now COVID-19 has been heartwarming.

“We truly believe the generosity of the human spirit is alive and well and is critical not only to see us through times of crisis but also to seek out disadvantage at all times and eradicate it.”

The announcement comes a week after the Minderoo Foundation pledged $160 million to secure medical supplies and increase Western Australia's COVID-19 testing capacity.

In January, the organisation launched the Fire Fund, to provide immediate bushfire relief and develop a long-term blueprint for fire resilience.

The Forrests established the Minderoo Foundation in 2001.