Frank Lowy Net Worth 2022: Sir Frank P. Lowy AC is an Australian-Israeli businessman of Jewish Slovakian-Hungarian origins and the former long-time Chairman of Westfield Corporation
The Westfield Group, an Australian company that owns and operates more than a hundred shopping centers in Australia, New Zealand, the United States, and Great Britain, was founded in large part by Frank Lowy.
In order to get a complete picture of Frank Lowy, you should read this article in its entirety.
Frank Lowy Net Worth and Biography
On October 22, 1930, in what was then Czechoslovakia, was Frank Lowy born.
Hugo Lowy was a traveling salesman who was taken by Nazi German soldiers and killed in Auschwitz was his father.
He was a young teenager at the time, and he worked various jobs to support his mother, Ilona Lowy, through the trying time. His mother died a year later.
Frank went to France in 1946 with the plan of making his way to Palestine at some point.
The ship he was on was intercepted by British authorities, and he was taken to a prison on the island of Cyprus.
Despite this, in 1948 he participated in the Arab-Israeli conflict in the Galilee and Gaza.
Frank Lowy’s Education
At the age of 13, Frank Lowy’s formal education in Slovakia came to an end. His father’s being sent to a prison camp was a tragic blow to his family.
As a result, he learned through experience while living as a refugee in France, Cyprus, Palestine, and Israel before making it big in Australia.
Both “what will become of us”, a documentary shown at the Tribeca Film Festival, and “Frank Lowy: Pushing the Limits”, a biography written by Australian journalist Jill Margo, shed light on the experiences that have informed his successful business practices.
Through his think tank, The Lowy Institute, he actively participates in educational activities. His group drives debates on domestic and international political and social problems that affect Australia’s policies and agenda.
The thirteen-year-old child used this as his instructional tool to affect both the world’s mentality and the local government’s priorities.
Frank Lowy net worth is valued at US$14.8 billion
Frank Lowy’s Career
Frank Lowy emigrated to Australia from Israel in 1952. In his adopted country, he launched a delivery service for manufactured and processed goods. He formed a business partnership with fellow immigrant John Saunders the following year.
The two of them started a company called Westfield Development Corporation to build malls in western Sydney.
The relationship and their businesses flourished for almost 30 years. In 1960, he gave the company the name “Westfield Development Corporation” and put it on the Australian stock market.
Meanwhile, in 1987, Saunders divested himself of his stake and left the company. Also, Lowy grew into New Zealand during the boom of the 1990s and the UK in the early 2000s.
He joined the Reserve Bank of Australia in 1995 and has since been reappointed as a director three times (in 2000, 2003, and 2005). When Lowy turned 80 in October 2010, he stepped down as Executive Chairman of Westfield.
Those who started working together in May of 2011. His two sons, Steven and Peter, eventually took over as co-CEOs. Lowy resigned from his position as chairman of the Scentre Group in October 2015 after 55 years in the position.
In 2017, the Queen knighted him in honor of his charity work and efforts to help people.
Today, Harry is still a major shareholder in the Lowy Family Group, which has offices in Sydney, New York City, and Los Angeles.
Frank Lowy Net Worth 2022
As of 2022, Frank Lowy net worth is valued at US$14.8 billion. At a total of $16 billion US dollars, the purchase of Westfield Group is the biggest business deal in Australian history.
In addition, he is listed as the ninth richest Australian in 2010 on the Financial Review Rich list. The fact that he still has a majority stake in the Lowy Family group and a cut of its annual profits means that his net worth is approximately at $6.4 billion.