Forrest Gives $500M to Coaxial Foundation

Coaxial Foundation names first three long-term partnerships focused on founders, Cape York children and Aboriginal families.

Updated on Nov. 13, 2026 in Philanthropy

Forrest Gives $500M to Coaxial Foundation

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Nicola Forrest donated more than $500 million to Coaxial Foundation in 2026, comprising $125 million in cash and 25 million Fortescue shares. The foundation has announced its first three major long-term partnerships: Antler, Cape York Partnership and SNAICC.

Why it matters

The donation and partnerships mark the start of a broader programme of long-term investment intended to create lasting impact. The partnerships were selected for organisations with the expertise and experience needed to drive that change across Australia.

The $500 million donation includes $125 million in cash and 25 million Fortescue shares, with the Antler partnership worth up to $30 million and the Cape York Partnership receiving $30 million over six years. The source does not detail how the Fortescue shares will be valued or how the remaining funds will be distributed across future initiatives.

The players

Nicola Forrest

Nicola Forrest is an Australian philanthropist and businessman who has been a prominent figure in the country's mining and charitable sectors.

Coaxial Foundation

Coaxial Foundation is a philanthropic organisation funded by Nicola Forrest that backs long-term initiatives supporting founders, children and families.

SNAICC - National Voice for our Children

SNAICC is the national peak body for Aboriginal and Torres Strait Islander children and families, advocating for their wellbeing across Australia.

The details

The Antler partnership provides up to $10 million in non-dilutive funding, co-investments and programme support over four years, along with a $20 million investment into Antler Australia Fund III. It establishes Momentum, powered by Coaxial, a four-year programme to identify, fund and support female founders. Coaxial also committed $30 million over six years to Cape York Partnership for early learning and development of Aboriginal children, and $7.1 million over three years to SNAICC, the national peak body for Aboriginal and Torres Strait Islander children and families.

2026: Nicola Forrest donates more than $500 million to Coaxial Foundation.
Four years: Antler partnership funding and Momentum programme period.
Three years: SNAICC partnership funding period.
Six years: Cape York Partnership funding period.

Market Landscape

The announcement follows the pattern of large private donations from mining-linked wealth directed toward Indigenous and early childhood causes in Australia. It positions Coaxial Foundation alongside established long-term funders by committing multi-year funding rather than one-off grants.

For most readers the announcement does not change everyday costs, but it directs substantial funding toward Aboriginal early learning, Indigenous children's services and female founder programmes. Families and founders in these areas may see new support over the coming years as the partnerships are delivered.

The takeaway

Large, multi-year philanthropic commitments can fund organisations with the expertise to create lasting change for communities. Readers interested in these areas can watch how the Antler, Cape York and SNAICC partnerships are delivered over their stated timeframes.