Who is Frank Lowy?
Lowy is the founder of Westfield Corporation, active as a developer of shopping malls. He was born in October 1930. He is married to Shirley Lowy and has 3 children: Steven, David, and Peter Simon Lowy. He is one of the richest men in Australia.
Westfield Group was an Australian shopping center company that existed from 1960 to 2014. When it split into two independent companies.
Scentre Group, which now owns and operates the Australian and New Zealand Westfield shopping center portfolio. And Westfield Corporation, which owns and operates the American and European center portfolio.
In 2018 the assets of Westfield Corporation were sold to Unibail Rodamco for US$ 33 billion. Lowy retired as a nonexecutive chairman.
Scentre Group is one of the world’s leading shopping center company. It is active in Australia and New Zealand.
Scentre Group owns and operates a large portfolio of 39 shopping centers in Australia and New Zealand. The shopping centers are valued at US$ 51 billion.
Each year 530 million shoppers visit these malls. Frank‘s son Steven Lowy is a non-executive director.
In 2015 Frank announced that he would retire as Chairman from Scentre.
Lowy and his family are active philanthropists. Through their Lowy Foundation and Lowy Institute.
In 2013 is was disclosed that the Lowy family had donated more than US$ 350 million to good causes. The Lowy Institute is an Australian think tank with a global outlook.
The institute is active in policy-relevant research about international political, strategic and economic issues from an Australian perspective.
In 2017 Frank Lowy AC was knighted by the Queen of England. For his services to business and philanthropy.
Frank Lowy Net Worth
His net worth is estimated at US$ 6 billion. He ranks 4 on Australia’s rich list.