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CANBERRA Authentic Mats Zuccarello Jersey , May 22 (Xinhua) -- Australian mining magnate and business billionaire Andrew Forrest announced on Monday that he was giving away 400 million AU dollars (298 million U.S. dollars), in what will be the largest philanthropic donation by a living person in the country's history.


Forrest, chairman and former CEO of mining company Fortescue Metals Group, announced the donation -- which will be distributed to a number of different causes -- in Canberra Authentic Henrik Lundqvist Jersey , explaining that recent strength in the iron ore market meant he could once again afford to donate vast sums of money.


""We had a slightly unsustainable business model previously where we would actually borrow money to give it away,"" Forrest said on Monday.


""And fortunately, we don't have to do that now thanks to the strength of the iron ore sector, the leadership of this country throughout the ages Mika Zibanejad Jersey , and that word I would like to introduce more commonly into the dialogue of leadership, which is courage'.""


The mining and business mogul was worth an estimated 1.7 billion AU dollars (1.24 billion dollars) in 2016, making him Australia's 22nd richest person.


According to Forrest, the donation will be split among a number of worthy causes Mats Zuccarello Jersey , with 75 million AU dollars (55.85 million dollars) to be allocated to a number of cancer institutes, 75 million (55.85 million dollars) to higher education research, 75 million (55.85 million dollars) to the cause of giving children the ""best chance in life"".


Meanwhile, 50 million AU dollars (37.2 million dollars) will be allocated to ""building stronger communities"" Henrik Lundqvist Jersey , and 50 million (37.2 million dollars) to creating ""equal opportunity among all Australians"".


Forrest will also give 75 million AU dollars (55.85 million dollars) to his Walk Free Foundation, which aims towards ending modern slavery.


Back in 2013, Forrest and his wife Nicola announced to make an donation of 65 million AU dollars (at that time 61.5 million dollars) to alma mater, the University of Western Australia Cheap Rangers Hats , making it the single largest donation in Australian history by then.


Prime Minister Malcolm Turnbull, present at the announcement at the Parliamet House in Canberra, described the nation's ""biggest single philanthropic gift"" as a ""game-changer"".


""It is a game-changer in the Australian philanthropic community. And it will change the lives of thousands of people here in and around the world,"" Turnbull said.


""But all of us should seek to do as much as we can with what we have. So Cheap Rangers T-Shirts , this is real leadership and leading by example.""


Weekly choices of Xinhua photos (May 15 - May 21)


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Tourists visit lily garden in SW China's Guizhou


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Pic story: Technique of making Jianzhan porcelain

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RIO DE JANEIRO， Aug. 21 (Xinhua) -- Team USA won the third consecutive Olympic gold medal when the Americans beat Serbia 96-66 in the men's basketball tournament at the Rio Olympics on Sunday.


This was the last gold medal of the 2016 Rio and the 25th Olympic victory of Team USA， which also had perfect 8-0 records in 2008 Beijing and 2012 London.


The U.S. beat Serbia 94-91 in the preliminary round， but proved it is a different story when the gold medal is on stake.


An organized Serbian team produced enough trouble for the U.S.， as they did in the previous encounter， when the lead was exchanged five times and the game was tied four times in the first quarter.


But solid defence of the Americans shattered the confidence of the Europeans， who were hammered on one-on-one situation. The U.S. used a 24-7 run， initiated by Kevin Durant who scored 18 points in the second quarter， to take a comfortable lead on 43-22.


Serbia， which missed the 2008 and 2012 Games， never found their rythem of typical team work as the game was more like an NBA one.


This was the first Olympic medal for Serbia since 1996 Atlanta Games， when the then Yugoslavia won the silver medal after losing to the U.S..


The U.S. led 52-29 after two quarters， 79-43 after three before they won another one-sided game. The Americans averaged a 22.5-point winning margin in the tournament.


Durant had the game-high 30 points while DeMarcus Cousins had 13 points and 15 rebounds for the U.S..


The U.S. beat Serbia on the board by 54-33 and led as many as 41 points.



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