The mining magnate Andrew Forrest has unveiled one of Australia’s largest philanthropic donations to fund a variety of social and scientific causes, The Guardian reports.
Forrest and his wife Nicola confirmed they would give away $400m in a donation described by Malcolm Turnbull on Monday morning as a “game-changer in the Australian philanthropic community”.
The prime minister, flanked by Forrest at a function in Canberra, said the $400m donation would fund a range of causes.
Turnbull said $75m would go towards coordinating world cancer institutes, $50m for building stronger communities, $75m for higher education and research, $75m towards “giving every child their best chance”, $50m towards creating equality of opportunity, and $75m towards removing modern slavery from human history.
He said the power of philanthropy to change lives was “perhaps greater than that of government, because it comes with the love of the philanthropist, a love of mankind”.
Forrest said on Monday morning he had been “very fortunate, with my wife, Nicola, to be able to accumulate [wealth] and then as soon as we can to commence giving it away”.
He thanked Turnbull for “using the word love with such alacrity and passion.” Forrest said he didn’t hear the word love often in business, and he said he suspected the word wasn’t often used in politics either.
Andrew Forrest and his wife Nicola established the Minderoo Foundation in 2001, with the ethos that “by giving a hand up, not a hand out, we can empower communities”.
The Forrests and daughter Grace founded the Walk Free Foundation in 2012, which aims to end slavery.
Andrew Forrest to make Australian philanthropic history with huge donation (Sydney Morning Herald)
Prime Minister’s Office / Facebook