John Gandel
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John Gandel AO |
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|---|---|
| Born | 1935 (age 81–82) |
| Residence | Toorak, Melbourne |
| Nationality | Australian |
| Occupation | Property developer |
| Net worth | |
| Spouse(s) | Pauline Gandel |
| Children | Four |
| Parent(s) | Sam and Fay Gandel |
John Gandel AO (born 1935), an Australian businessman, property developer and philanthropist, made his fortune in the development of commercial real estate as well as shopping centres located in Melbourne, Victoria.
Gandel, who inherited much of his wealth from his Polish-immigrant parents, founders of the Sussan women's clothing chain, is consistently ranked within the top ten wealthiest Australians by net worth in both the BRW Rich 200 and Forbes magazines. In May 2016 he was ranked fifth.
Gandel was born in Australia in 1935, the son of Sam and Fay Gandel, Jewish immigrants from Poland. His parents operated a corsetry store on Collins Street in Melbourne. Gandel was educated at Melbourne High School. He has one sister, Eva Gandel Besen.
In the 1950s, Gandel took control of his parents' women's clothing business (then named Sussan) in the 1950s and with his brother-in-law Marc Besen grew it into a chain of over 200 stores. In 1983, he bought the Chadstone Shopping Centre, selling Sussan to his brother-in-law in 1985 to concentrate on real estate. He subsequently built his own fortune in shopping centres.
In July 1983, the Myer Emporium sold the Chadstone Shopping Centre to the Gandel Group for A$37 million, which has since managed and developed the complex into Australia's biggest shopping mall which is now valued at over $3 billion. In July 1983, the Myer Emporium also sold the Northland Shopping Centre to the Gandel Group. Gandel's major assets are 50 per cent shares in Chadstone, and a 17 per cent stake in the listed Novion that owns the other half. Gandel also owns significant stakes in listed property companies, besides the stake in Novion, worth about A$800 million, and a 15 per cent stake in Sydney-based property group, Charter Hall, in which he invested A$151 million.
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Wikipedia