The Largest Single Family Offices in Australia
Australia's family office landscape is growing fast — from mining and resources dynasties to real estate and clean energy investors. Our database covers the most significant Australian single family offices, from Sydney and Melbourne to Perth.
Wonongarra Pty Ltd, a private investment vehicle wholly owned by Australian mining billionaire Andrew Forrest, has agreed to acquire the entire stake of Oaktree Capital in ASX-listed tungsten producer EQ Resources. Announced on July 17, 2026, the transaction covers 862,131,779 fully paid ordinary shares and 35,555,556 options, representing approximately 16.8% of EQ Resources’ issued capital, for a total consideration of around A$189.7 million (US$132.5 million). The deal makes Forrest the company’s largest shareholder and carries the right to appoint a director to the board. EQ Resources operates tungsten mines including Mt Carbine in Queensland and Barruecopardo in Spain, positioning it as one of the few Western producers of the critical metal. Forrest framed the investment as backing an Australian producer at a moment when the fragility of critical mineral supply chains has become a global concern. When trading resumed on Monday, July 21, EQ Resources shares jumped by roughly a third. The company stated that the transaction does not change its strategy, management or operations.
About Wonongarra: The Andrew Forrest investment vehicle
Wonongarra Pty Ltd is a personal investment vehicle wholly owned by Andrew “Twiggy” Forrest, one of Australia’s wealthiest individuals. Forrest founded iron ore producer Fortescue in 2003 and built it into one of the world’s largest iron ore exporters, serving today as its Executive Chairman while driving the company’s green energy transition through Fortescue’s hydrogen and renewables ambitions. The Forrest family’s broader private wealth is typically managed through Tattarang, one of Australia’s largest private investment groups, alongside the mining-focused Wyloo and the philanthropic Minderoo Foundation, which Forrest established with his wife. Notably, the EQ Resources stake was acquired through Wonongarra rather than these better-known entities, marking it as a direct personal investment. The transaction underlines Forrest’s conviction in critical minerals, an area where he has repeatedly argued that Western supply chains need domestic champions to reduce dependence on dominant producers.
Source: Euronext (21.07.2026)
Picture Source: Unsplash+
Last Updated on July 21, 2026
