Frank Lowy Net Worth | TheRichest
Frank Lowy
Birthname Sir Frank P. Lowy, AC Birthdate October 20, 1930 Birthplace Fiľakovo, Czechoslovakia Education University of New South Wales Profession Businessman Net worth $6,400,000,000 Source of Wealth Business (Westfield Group - Shopping Centers) Nationality Australian-Israeli Country Australia Marital Status Married (Shirley Lowy) Children 3 (Peter Simon, Steven and David)Quick Links
Born in October 1930, this Australian-Israeli businessman co-founded the Westfield Group which operates more than 100 shopping centers in New Zealand, Great Britain, the United States, and Australia.
Frank Lowy was once a small-time businessman whose business revolves around delivering small goods. When he met John Saunders, they instantly became business partners and they formed the Westfield Development Corporation. For the next 30 years, the duo built shopping centers in the United States and Australia. The company's name was later changed to Westfield Group and it went public in 1960. In 1987, Saunders sold his share of the company and Frank Lowy took full control of it.
In 2010, Frank Lowy became the richest person in Australia with his A$5.04 billion worth of fortune. On the same year, he stepped down as the company's Executive Chairman to take the role as Non-Executive Chairman. Consequently, his sons Peter and Steven, serve as joint chief executives.
Frank Lowy has an estimated net worth of $6.4 billion.
Earnings & Financial Data
Date | Category | Description | Amount |
|---|---|---|---|
2019 | Asset | Purchase value of Frank Lowry's Gulfstream G650 private jet | $75,000,000 |
2019 | Asset | Purchase value of Frank Lowy's large house in Point Piper near Sydney that has amazing views | $50,000,000 |
2019 | Asset | Purchase value of Frank Lowy's 269-foot Ilona Yacht | $100,000,000 |
2018 | Sale of Asset | Sale of Westfield and Scentre, the mall and shopping center businesses to Unibail-Rodamco, a Paris-based real estate group | $25,000,000,000 |
2013 | Earning Turned Donation | Donation of Frank Lowy's family to The Lowy Institute that is an Australian think tank with a global outlook | $350,000,000 |
2010 | Earning Turned Donation | Donation to facilitate the construction of the UNSW Lowy Cancer Research Centre, a collaborative centre of the Children’s Cancer Institute Australia and the Faculty of Medicine at the University of New South Wales | $6,980,000 |
2003 | Earning Turned Donation | Donation for the establishment of the Lowy Institute for International Policy, an independent international policy think tank devoted to foreign affairs, and Australia's role in the world | $20,930,000 |
2003 | Bonus | Bonus as the chairman of the Westfield group | $12,380,000 |
2003 | Salary | Base salary as the chairman of the Westfield group | $932,540 |
2002 | Earning Turned Donation | Total donations for the year 2002 making him Australia’s leading philanthropist by peak body, Philanthropy Australia | $6,980,000 |
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