Fortescue founder says hiking accident led him to a PhD

Fortescue founder and chairman Andrew Forrest says a 2015 hiking accident in Australia’s Kimberley region nearly killed him and left him facing years of recovery. Fortune reported that Forrest used the time away from running the mining company to pursue a PhD in marine ecology, an experience he says changed how he thinks about Fortescue’s environmental goals.

Forrest described the accident on the “In Good Company” podcast with Norges Bank Investment Management CEO Nicolai Tangen, according to Fortune. He said he was hiking in remote canyons when a ledge collapsed and he fell into a pool of water.

According to Fortune’s account of the interview, Forrest said his leg became trapped on a tree root and broke in the wrong direction. He told Tangen he believed he lost consciousness from the pain and woke under the water, alone and at risk of drowning.

Forrest said on the podcast that he had to damage the leg further to free himself and get his head above water, Fortune reported. The ravine was in an area with crocodiles, according to Fortune, and Forrest was later found and flown by helicopter for surgery.

Fortune reported that Forrest, a former stockbroker, spent years recovering and did not initially know whether he would walk again or whether doctors would have to amputate the leg. The accident also kept him from running Fortescue, which Fortune described as a $56 billion mining company.

Recovery led to ocean studies

Forrest told Tangen that his three daughters helped him reframe the recovery period by reminding him of his long-standing interest in studying oceans, according to Fortune. He first considered a master’s degree in marine studies, but said he was told his background meant a PhD was the available route.

Fortune reported that Forrest enrolled in a four-year doctoral program in marine ecology. Forrest told the podcast he wanted to study the oceans because he saw them as central to life on the planet, from deep trenches to coastlines.

Forrest and his former wife, Nicola, signed the Giving Pledge in 2013, according to Fortune, telling Bill Gates and Warren Buffett they planned to donate most of their wealth. Fortune reported that the Minderoo Foundation, named after the ranch where Forrest grew up, supports causes including deep-sea preservation and the performing arts.

Climate targets at Fortescue

Forrest told Tangen that his studies affected how he wanted Fortescue to operate, according to Fortune. The company adopted what Forrest called “real zero” targets aimed at decarbonizing its operations, Fortune reported.

Bloomberg estimates Forrest and his family are worth more than $24 billion, according to Fortune. Fortune also noted that Fortescue was recently hit with a class-action lawsuit, reported by The Guardian, alleging sexual harassment at remote mining sites.

Forrest argued on the podcast that green energy should be framed around lower energy costs and a better standard of living, according to Fortune. He also used blunt language about climate change skeptics, calling disbelief in climate change “idiot” thinking while saying people should still be able to support cheaper, cleaner energy.

This story draws on original reporting from Fortune.