Andrew Forrest Gives $298M to Causes Covering Health, Education and Fighting Modern Slavery

Australian mining magnate Andrew Forrest on Monday made the country's biggest philanthropic gift by a living individual, donating $298 million to causes covering health, education and fighting modern slavery.

Prime Minister Malcolm Turnbull sang the praises of the one-third owner of world No. 4 iron ore producer Fortescue Metals Group Ltd, who has faced occasional criticism about his treatment of indigenous people in the mineral-rich state of Western Australia.

The donation set a new benchmark for private sector philanthropy in Australia, where educators, doctors and arts organizations—the typical beneficiaries of private sector charity—have traditionally relied on government subsidies to stay afloat.

"It is a game-changer in the Australian philanthropic community," said Turnbull at an event to announce Forrest's donation, attended by government and opposition politicians, actor Russell Crowe and health researchers. He said it was a record.