Total donation: $48 million ($70 million AU)
Net worth: $8.9 billion
The Western Australian-based billionaire pledged to donate $70 million through his philanthropic organization, Minderoo Foundation, Business Insider Australia reported.
The first round of funds, $10 million, will be spent immediately on disaster relief efforts, Business Insider Australia reported. The rest will be used to organize volunteers and fund future fire prevention efforts.
"We recognise that we don't have all the answers, but we want to understand what communities need and do our bit to help them now and as they regroup in the coming months," Forrest said, according to Business Insider Australia.
Forrest built his fortune off Minara Resources, the mining company he founded in 1994, according to Forbes.