Mining magnate and leading philanthropist Andrew Forrest has encouraged wealthy people across the Asia Pacific to donate more money to charity, rather than buying "another luxury good, or piece of land, or a yacht".

Mr Forrest said the wealthy could make a greater difference and gain more satisfaction by donating funds to communities and societies in need.

Philanthropists Andrew Forrest and his wife Nicola. Credit:Andrew Meares

Mr Forrest, chairman and co-founder of iron ore miner Fortescue Metals Group, made the comments as it was revealed that he and his wife Nicola have, over the past six months, donated a further $655 million to charitable causes around the globe including the fight against cancer.

"If you have an ability to create and implement capital, then use that ability to make a huge difference for others. Because there's only so much which you need yourself.