Frank Lowy
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Frank Lowy AC |
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Lowy at the Australian Football Awards in October 2011
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| Born |
22 October 1930 Fiľakovo, Czechoslovakia (now Slovakia) |
| Residence | Point Piper, Sydney, Australia |
| Nationality | Australian |
| Net worth |
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| Board member of | |
| Spouse(s) | Shirley Lowy OAM |
| Children | Peter Lowy Steven Lowy David Lowy |
Frank Lowy, AC (born 22 October 1930) is an Australian-Israeli businessman and Chairman of Westfield Corporation, a global shopping centre company with US$29.3 billion of assets under management in the United States, United Kingdom and Europe. He is a former Chairman of Scentre Group, the owner and manager of Westfield-branded shopping centres in Australia and New Zealand.
With an assessed net worth of A$8.26 billion in 2016, Lowy is ranked as the third richest Australian according to the BRW Rich 200; having been the richest person in Australia during 2010.Forbes Asia magazine assessed Lowy's net worth at US$4.6 billion in January 2014.
Lowy was born in Czechoslovakia (now Slovakia), and lived in Budapest, Hungary during World War II. He made his way to France in 1946, where he left on the ship Yagur, but was caught on the route to Mandatory Palestine by the British and deported to the detention camp in Cyprus. Lowy joined first the Haganah, then the Golani Brigade, and fought in the 1948 Arab–Israeli War in the Galilee and Gaza.
In 1952, Lowy left Israel and joined his family, who had left Europe for Australia and started a business delivering small goods. In 1953, he met fellow immigrant John Saunders. The pair became business partners, eventually creating Westfield Development Corporation through the development of a shopping centre at Blacktown in Sydney's western suburbs. Over the next 30 years, Lowy and Saunders developed shopping centres across Australia and the United States (from 1977); and listed the company on the in 1960 as Westfield Development Corporation. Saunders sold his interests and left the company in 1987. In the 1990s Lowy took the company to New Zealand, then the United Kingdom in the 2000s.
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