Australia’s richest man to give his money away

Andrew ‘Twiggy’ Forrest plans to give away almost all of his fortune before he dies, according to a report in The Australian newspaper.

Speaking at the Diggers and Dealers conference in Kalgoorlie, Forrest said, "I don't aspire to great wealth and I don't admire it and I don't intend to leave this earth as a rich man", according to the report.

The Forbes’ billionaire list ranks Forrest as the 145th richest person in the world with an estimated fortune of $6.5 bn (£3.25bn).

Forrest has not indicated what causes will benefit from his philanthropy, though last year he donated shares and options worth about $80m AUD (£37m) to the Australian Children's Trust. He has also donated tens of millions of dollars to Aboriginal causes.