Mr Gordon Toll co chairman of Fortescue along with Mr Andrew Forrest has dumped his entire stake in the company comprising of 750,000 shares in a number of on market trades beginning last Friday to collect $6.31 million through an average share price of $8.41. The shares were held in a company called Coffee House Group, in which Mr Toll holds an interest of 50%.

Mr Graeme Rowley director operations of Fortescue said that the board had no warning Mr Toll would be selling his shares; they were bought many years ago, well before they reached heights of $10 a piece. He said "Mr Toll is still the chairman of the company and we have had no indication to confirm otherwise.”

Before the sell off, Mr Toll was Fortescue's 8th biggest shareholder. Topping the list is Mr Forrest, who holds 102.31 million shares worth about $870 million.