$9.33 billion in net worth
Age: 92
DOB: 22nd October 1930
Birthplace: Fiľakovo, Slovakia (Formerly Czechoslovakia)
About Frank Lowy
Frank Lowy is an Australian-Israeli businessman who is widely recognised for his significant contributions to the real estate and retail industries. He is best known for co-founding the Westfield Corporation.
During World War II, he and his family survived the Holocaust by hiding from the Nazis in Budapest. After the war, they moved to Israel.
In 1952, Frank Lowy emigrated from Israel to Australia, where he settled in Sydney. He worked various odd jobs, including cleaning buses and delivering small goods including newspapers, to make ends meet. A year later he met John Saunders, a fellow immigrant, with whom he became business partners.
Co-Founding Westfield Corporation
In 1959, Frank Lowy, along with his business partner John Saunders, founded Westfield Development Corporation. They started with a small shopping centre in Sydney’s western suburb of Blacktown. Under Lowy’s leadership, Westfield grew into a global giant in the shopping centre industry, developing and operating numerous malls in Australia, the United States, the United Kingdom and other countries.
Westfield shopping centres became known for their upscale design and extensive retail offerings. Over the years, he expanded Westfield’s presence internationally, with the company owning and managing shopping centres in major cities around the world, including New York City, London and Los Angeles.
Saunders left the company after selling his interest in it in around 1987. Frank Lowy and his family remained at the helm of it until 2018, when they sold Westfield Corporation to Unibail-Rodamco-Westfield (now URW Group) in a multibillion-dollar deal.
Other Career Highlights
Lowry has held a number of other significant roles during the course of his career. In 1995 he was appointed a Director of the RBA (Reserve Bank of Australia). He also spearheaded a dynamic campaign for Australia to host the 2022 FIFA World Cup – eventually missing out to Qatar.
Additionally, Lowy founded the Lowy Institute, which prides itself on being Australia’s most prominent think tank for foreign affairs. He has also been the chairman of the INSS (Institute for National Securities Studies), an independent academic body studying key issues that relate to Middle East affairs and the national security of Israel – something he is very passionate about.
Philanthropy and Honours
Frank Lowy has been involved in philanthropic activities and has made significant donations to various causes, including medical research and education. This led to him being bestowed the title by Philanthropy Australia in 2002 of Australia’s leading philanthropist.
Over the years Lowry has received numerous awards and honours for his contributions to business and the community, including being named a Companion of the Order of Australia in 2000. He was also knighted by the Queen in her Birthday Honours (UK) list of 2017 for his services to business and philanthropy.
Personal Life
In 1954, Frank Lowy married Shirley Rusanow whom he had met a couple of years earlier at a Jewish dance, aged just 21. They were married for over 65 years until she unfortunately passed away having suffered from dementia.
The couple have three sons, Peter, Steven and David, who have been involved in various aspects of the family’s business ventures. They moved to Israel in 2018, where Frank still resides.