FMG shares smash $10 mark

Fortescue Metals Group shares surged well above the $10 mark today, pushing the wealth of Australia's richest man - Andrew Forrest - over $10.5 billion.

The company shipped its first iron ore two weeks ago from the Pilbara only completed the rail from Cloudbreak to Port Hedland in April.

Fortescue's shares gained 69 cents today to close at $10.59.