Frank Lowy survived the Holocaust as a teenager, arrived in Australia in 1952, and co-founded Westfield, which grew into a global shopping center empire sold for 33 billion dollars in 2018.
The Builders | Olam.business
Frank Lowy, born October 22, 1930, in what is now Slovakia, survived the Holocaust as a teenager after his father was killed by Nazi forces, and arrived in Australia via Israel in 1952. With business partner John Saunders he founded what became Westfield, a global shopping center company sold to Unibail-Rodamco in 2018 for approximately 33 billion dollars. Forbes and the Financial Review Rich List have placed his personal fortune above 6 billion dollars in recent years.
Who Is Frank Lowy?
Frank Lowy is an Australian-Israeli businessman who co-founded Westfield, the shopping center company that grew into one of the largest retail property groups in the world before its 2018 sale.
At a Glance
| Born | October 22, 1930, in what is now Slovakia, to a Jewish family |
| Wartime history | Survived the Holocaust in a Jewish ghetto in Hungary; his father Hugo Lowy was killed by Nazi forces in 1944 |
| Path to Australia | Emigrated to Israel after the war, then to Australia in 1952, joining family members already there |
| Westfield | Co-founded with fellow Holocaust survivor John Saunders in the mid-1950s. Grew into a global mall operator with assets exceeding 50 billion dollars at its peak |
| 2018 sale | Westfield Corporation sold to Unibail-Rodamco for approximately 33 billion dollars, ending Lowy's tenure as chairman |
| Net worth | Approximately 6 to 10 billion Australian dollars across recent Financial Review Rich List and Forbes rankings |
| Philanthropy | Lowy Foundation and Lowy Institute have directed more than 350 million dollars to research and public policy causes |
How Did Frank Lowy Build Westfield?
Lowy arrived in Australia in 1952 with almost nothing, taking work at a toolmaking factory before meeting fellow Holocaust survivor John Saunders, with whom he opened a delicatessen in a Sydney suburb in 1955. The partners used profits from the deli to buy farmland, forming Westfield Investments, named for the location and the field they subdivided. In 1960 they opened their first shopping center in Blacktown, a Sydney suburb, and listed the company on the Australian Securities Exchange the same year.
Westfield expanded into the United States in 1977 with the purchase of a Connecticut shopping mall for 21 million dollars, and later into the United Kingdom and New Zealand. In 2014 the company split into Scentre Group, which retained the Australian and New Zealand malls, and Westfield Corporation, which held the US and European portfolio. Westfield Corporation was sold to French firm Unibail-Rodamco in 2018 for approximately 33 billion dollars, and the Lowy family sold its remaining stake in Scentre Group the following year.
What Has Frank Lowy Done Since Leaving Westfield?
Lowy chaired Football Federation Australia until 2015 and led Australia's unsuccessful bid to host the 2022 World Cup. He and his family have directed more than 350 million dollars through the Lowy Foundation and the Lowy Institute, an Australian foreign policy think tank he founded. Lowy moved to live in Israel at the end of 2018, following the sale of Westfield Corporation.
Frequently Asked Questions
Who is Frank Lowy?
Frank Lowy is an Australian-Israeli businessman and Holocaust survivor who co-founded Westfield with John Saunders in the 1950s, building it into a global shopping center company sold for approximately 33 billion dollars in 2018.
How did Frank Lowy survive the Holocaust?
Lowy survived the Holocaust as a teenager in a Jewish ghetto in Hungary. His father, Hugo Lowy, was killed by Nazi forces in 1944. Lowy emigrated to Israel after the war before settling in Australia in 1952.
What happened to Westfield?
Westfield split in 2014 into Scentre Group, which kept the Australian and New Zealand malls, and Westfield Corporation, which held the US and European portfolio and was sold to Unibail-Rodamco in 2018 for approximately 33 billion dollars.
What is Frank Lowy's net worth?
Recent rankings from the Financial Review Rich List and Forbes have placed Frank Lowy's net worth between approximately 6 and 10 billion Australian dollars.
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- John Gandel: Australia's Largest Mall Owner
מי הוא פרנק לואי?
פרנק לואי, יליד 1930 בסלובקיה של היום, שרד את השואה לאחר שאביו נרצח בידי הנאצים. ב-1952 הגיע לאוסטרליה דרך ישראל, וייסד יחד עם ג'ון סונדרס את חברת ווסטפילד, שהפכה לאחת מחברות הקניונים הגדולות בעולם. החברה נמכרה ב-2018 תמורת כ-33 מיליארד דולר. הונו מוערך בין 6 ל-10 מיליארד דולר אוסטרלי.
The Olam Editorial Team | The Builders / הבונים
How we report: Olam stories draw on public filings, company disclosures and named sources, checked by our editors. Read our methodology · Corrections
