From the AFR:
Until now. The question becomes how long Fortescue’s share price could fall, and Forrest’s fortune – which is already down more than $1 billion since the 2015 Rich List was published at the end of May – with it.
Given he holds just over 1 billion shares, Fortescue shares would need to be just below $1 for Forrest’s status to become “former billionaire”.
Inevitable in my view. China and/or BHP will buy it out of receivership.
