• iconNews
  • videos
  • entertainment
  • Home
  • News
    • UK News
    • US News
    • Australia
    • Ireland
    • World News
    • Weird News
    • Viral News
    • Sport
    • Technology
    • Science
    • True Crime
    • Travel
  • Entertainment
    • Celebrity
    • TV & Film
    • Netflix
    • Music
    • Gaming
    • TikTok
  • LAD Originals
    • Say Maaate to a Mate
    • Daily Ladness
    • Lad Files
    • UOKM8?
    • FreeToBe
    • Extinct
    • Citizen Reef
  • Advertise
  • Terms
  • Privacy & Cookies
  • LADbible Group
  • UNILAD
  • SPORTbible
  • GAMINGbible
  • Tyla
  • UNILAD Tech
  • FOODbible
  • License Our Content
  • About Us & Contact
  • Jobs
  • Latest
  • Topics A-Z
  • Authors
Facebook
Instagram
X
Threads
Snapchat
TikTok
YouTube

LAD Entertainment

YouTube

LAD Stories

Submit Your Content
Undercover billionaire who is giving away £16 billion fortune won't give any to Aquaman actor kid

Home> News

Updated 12:41 28 Sep 2022 GMT+1Published 12:15 28 Sep 2022 GMT+1

Undercover billionaire who is giving away £16 billion fortune won't give any to Aquaman actor kid

She doesn't think that giving children vast amounts of money will help them

Emma Guinness

Emma Guinness

An undercover billionaire who has made the remarkable decision to give away her fortune won't be giving any money to her Aquaman actor daughter.

Nicola Forrest, who has been sharing her £16 billion, is the wife of iron ore magnate Andrew Forrest and made a name for herself by vowing to give away the 'vast majority' of their fortune.

The majority of the couple's wealth comes from Andrew's mining business, which Nicola used to happily live in the shadow of until her philanthropy hit the headlines.

Nicola Forrest is one of Australia's most generous women.
Jessica Wyld / minderoo.org

Advert

As reported by the MailOnline, the couple's daughter, Grace, said the title 'undercover billionaire' came from a long-running joke in the family.

She explained to ABC: "The [undercover billionaire title] comes from the fact that she'd be encouraging dad, Sydney, and I to eat a week-old expired yoghurt because it'd be wasted."

The billionaire is apparently so keen to avoid waste that she even reuses ziplock bags, despite having an estimate fortune of £16 billion ($27.25 billion).

Daughter Sophia has made a name for herself as an actor.
PA / United Images / Zuma Press

With such a vast fortune, the couple concluded that their children - Grace, Sophia and Sydney - would be 'burdened' by a large inheritance, which is why they are giving it away instead.

Advert

"Children don't benefit from thinking they're going to inherit a huge amount of money," Nicola asserted.

The couple's children are already craving out successful careers in their own right in the knowledge that they won't be inheriting a fortune.

Sophia, an actor, actually starred in Aquaman and appeared in the mini series Love Child in Australia too.

The couple understandably needed help to put their money to good use, which is why they created the Minderoo Foundation to support projects of their choice.

The MailOnline reports that they've already given away £1.56 billion.

Advert

Nicola and Andrew aren't giving their children their money.
Alamy / Sipa US

However, despite the foundation's good intentions, some environmental critics have slammed the charity because the money is coming from mining wealth.

However, while the foundation might have its critics, it's gearing up to continue to give away vast sums of money at the rate of £600 million a year.

The projects it supports are motivated by Nicola's experiences in life, such as the foundation's work in improving early childhood education.

"I am motivated by the experiences I've had both raising, and losing, children," she revealed to the National Press.

Advert

Sadly, the mother had a stillborn daughter, Matilda, back in 1988 - an experience which she said 'tore our family apart.'

"Because of this experience, I reached out to Professor John Newnham at the Women and Infant's Research Foundation, joined their board and worked with them for years," Nicola revealed.

"This relationship and the research that I became immersed in is the reason I am standing here today and, indeed, why we launched Minderoo Foundation 20 years ago.

"It opened my eyes to the astonishingly simple fact. That, from conception, the first five years of life are crucial to human health and happiness.

"Protect those years, and you protect the future."

Featured Image Credit: Minderoo.org

Topics: News

Emma Guinness
Emma Guinness

Advert

Advert

Advert

Choose your content:

an hour ago
3 hours ago
  • an hour ago

    Keir Starmer speaks out after British girl sent home from school for wearing Union Jack dress on culture day

    The school has since issued an apology

    News
  • an hour ago

    Brit, 69, detained after ‘smuggling £350k-worth of drugs in secret compartment of his car’ into Spain

    He was said to be boarding the car ferry in Ceuta, Spain

    News
  • 3 hours ago

    Doctor reveals patient's brain turned blue after taking 'limitless pill' that's gone viral on TikTok

    People on social media have hailed the substance a ‘game changer for mental clarity and longevity’

    News
  • 3 hours ago

    Doctor shares the nine warning signs of heart failure and how to spot them

    Dr Jen Caudle has revealed the nine 'most common' symptoms of the condition

    News
  • Why fans at Paris 2024 Olympics won't be able to buy beer at any venue
  • Ashton Kutcher and Mila Kunis will not leave any of their fortune to kids when they die
  • Billionaire says young people are 'too busy on TikTok' to start a career and 'won't succeed'
  • Shop is giving away free Prime to 'tackle profiteering' at Wakey Wines