Andrew Forrest to transfer $3.39bn stake in Fortescue to his philanthropic foundation
Andrew Forrest founded Fortescue Metals Group in 2003. (Image from: Daily Telegraph video)
Fortescue Metals said on Wednesday executive chairman Andrew Forrest transferred ownership of 220 million Fortescue shares worth about A$5 billion ($3.39 billion) to Minderoo Foundation.
Minderoo Foundation is the philanthropic foundation of Andrew and Nicola Forrest.
($1 = 1.4732 Australian dollars)
(By Jaskiran Singh; Editing by Maju Samuel)
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