Perth-based entrepreneur Andrew "Twiggy" Forrest has in recent weeks overtaken Australia's best-known billionaires -- James Packer and Frank Lowy -- as Australia's richest man, despite the fact that his mining company, Fortescue, is yet to ship a tonne of ore and all its major production facilities, such as a mine, a railway and a port, are still incomplete. Forrest founded the company in 2003; his personal fortune is estimated at $8.7billion, up by more than $2billion in the past ten days alone thanks to a mad scramble by small investors to buy shares in his company.
Aust 29 Dec 2007
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