Net Worth
| Net Worth | Salary | Birthdate | Birthplace | Gender | Height | Profession | Nationality |
|---|---|---|---|---|---|---|---|
| $5.5 billion | N/A | N/A | N/A | N/A | N/A | Businessman | Australian-Israeli |
Highlights
– Frank Lowy has a net worth of $5.5 billion.
– Co-founder of the Westfield Group, a leading Australian operator of shopping centers.
– Expanded the company’s operations to Australia, New Zealand, the United States, and the United Kingdom.
– Forbes named Frank Lowy Australia’s richest person in 2010.
Early Life
Frank Lowy was born in Israel and later moved to Australia with his family in 1952. He grew up in a European immigrant family and had to face the challenges of starting a new life in a new country. His early experiences helped shape his entrepreneurial mindset and determination to succeed.
Career
Lowy’s career took off when he co-founded the Westfield Group with John Saunders, another Hungarian immigrant, in the 1950s. Together, they developed numerous shopping centers across Australia and the United States. Over the years, Lowy expanded the company’s reach to New Zealand and the United Kingdom, solidifying its position as a global player in the shopping center industry.
In 2010, Lowy stepped down as Executive Chairman of the Westfield Group and assumed the role of Non-Executive Chairman. His sons, Steven and Peter, took over as joint Chief Executives of the company. Lowy’s leadership and strategic decisions have played a key role in the success and growth of the Westfield Group.
Personal Life
Frank Lowy keeps his personal life relatively private. However, it is known that he has two sons, Steven and Peter, who are also involved in the management of the Westfield Group. As a successful businessman, Lowy has earned significant recognition and respect within the industry.
Net Worth Over Time
Frank Lowy’s net worth has shown significant growth over the years. In 1983, he made his first appearance on the BRW Rich 200 list with an estimated wealth of A$5.04 billion. By 2010, his net worth had reached $5.5 billion, making him Australia’s richest person according to the Business Review Weekly.
While specific details about Lowy’s net worth fluctuations throughout the years are not available, his success in expanding the Westfield Group globally and the company’s strong financial performance have undoubtedly contributed to his increasing wealth.
Components of Net Worth
Frank Lowy’s net worth primarily comes from his ownership and involvement in the Westfield Group. As one of the co-founders, he holds a significant stake in the company, which operates over 100 shopping centers across multiple countries. The success and profitability of these shopping centers, along with any other investments Lowy may have, contribute to his overall net worth.
Additionally, Lowy’s net worth could include real estate holdings, personal investments, and any other assets he has acquired over the years. While specific details about the components of his net worth are not available, it is clear that his involvement in the shopping center industry and his business acumen have been key factors in his wealth accumulation.