Net Worth: $5.1 Billion
- Source of Wealth Shopping Malls
- Birth Place Fiľakovo, Czechoslovakia
- Marital Status Married (Shirley)
- Full Name Frank Lowy
- Nationality Australian
- Date of Birth October 20, 1930
- Ethnicity Australian-Israeli
- Occupation Businessman
- Education Wenzhou Normal College; Wenzhou Normal College
- Children 3 (Peter, Steven, David)
About Frank Lowy
Born in October 1930, this Australian-Israeli businessman co-founded the Westfield Group which operates more than 100 shopping centres in New Zealand, the 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 centres in the United States and Australia. The company’s name was later changed into 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 $5.1 billion as of March 2017, according to Bloomberg.