Australia’s richest man Andrew ‘Twiggy’ Forrest and wife Nicola have confirmed their separation after 31 years of marriage.

One of the country’s richest couples, they released a statement late Wednesday as media reports emerged.

The Forrests, who have three adult children, said they had decided to “live apart” after three decades together.

But they insisted their split would not impact the operations of listed mining company Fortescue Metals, their philanthropic foundation Mindaroo or private investment group Tattarang.

The philanthropists also said they would continue “gifting” their massive wealth to tackle problems such as climate change.

“After 31 years of marriage, we have made the decision to live apart,” the statement said.

“Our friendship and commitment to our family remains strong.

“There is no impact on the operations, control or direction of Fortescue, Minderoo or Tattarang.

“We will continue our shared mission to create and gift our wealth to tackle community and global challenges.”

Dr Forrest is ranked Australia’s second-richest person on various rich lists, behind mining magnate Gina Rinehart.

In May, the Australian Financial Review rich list put Dr Forrest in second place with a personal wealth of $33.29 billion.

Recently Bloomberg reported that Dr Forrest’s wealth had jumped by $US2 billion ($2.95 billion) in 2023 to $US23.2 billion ($34.17 billion).

The Forrests were the first Australians in 2013 to sign the Giving Pledge – a vow also taken by Warren Buffett, Bill Gates and Elon Musk – to give away the vast majority of their wealth during their lifetimes.

Andrew ‘Twiggy’ Forrest and Nicola have been married for more than 30 years. Photo: AAP

Last month they announced they would donate 220 million shares in Fortescue Metals Group to their philanthropic foundation Minderoo.

The couple established the Minderoo foundation in 2001 and it receives funding through dividends from Fortescue, the company Dr Forrest founded in 2003.

The donated shares, worth about $4.9 billion, make up one fifth of the couple’s shareholding.

“As our world faces enormous challenges, we have elected to continue to use our material wealth to help humanity and the environment meet these existential risks,” Dr Forrest, the Fortescue Metals non-executive chairman, said at the time.

“Accumulating wealth should only be a small part of a person – their contribution to their family and society is way more important,” he said.

“Other skills such as carpentry, farming, the arts, working in construction, or for government are equally as important.

“If you happen to be good at accumulating wealth, then I believe in using that skill for the greater good,” he added.

-with AAP