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Frank P. Lowy was born on October 22, 1930, in Czechoslovakia (now in Slovakia). Lawy was an Australian-Israeli businessman earns the wealth in Billion dollars. Frank Lowy Net Worth is estimated at $6.6 Billion. The Westfield Group, an Australian company that operates over 100 shopping centers in Australia, New Zealand, the US, and Great Britain, is well-known for having Frank Lowy as a co-founder. It happened when Lowy decided to depart from Israel in 1952 and his family as they departed Europe for Australia. There, he met John Saunders, another Hungarian immigrant who would become his future partner, and both friends founded Westfield Development Corporation.
Frank Lowy Net Worth
Lowy served as the first chairman of Scentre Group, which owned and operated shopping centers in Australia and New Zealand bearing the Westfield brand. Lowy was Australia’s richest person in 2010 and was listed as the tenth richest Australian on the Financial Review Rich List in January 2019. Lowy’s net worth was estimated by Forbes Asia magazine to be US$6.5 billion, ranking him fourth among Australia’s 50 wealthiest individuals.
Biography
| About Frank | Details |
| Full Name | FrankP. Lowy |
| Born in | October 22, 1930 |
| Age | 93 years |
| Nationality | Australian |
| Place of Birth | Czechoslovakia now in Slovakia |
| Known for | Co-founder of Westfield |
| Net worth | Estimated to be $6.6 Billion |
| Board | Westfield corporation |
| Member of | Lowy Institute |
| Wife | Shirley |
| Children | 3 Including Steven Lowy |
During World War Two, Lowy had to reside in a ghetto in Hungary after being born in Czechoslovakia, which is now part of Slovakia. In 1946, he traveled to France, where he boarded the ship Yagur bound for Mandatory Palestine.
Then, however, Frank Lowy was captured by the British forces while traveling and imprisoned in a camp in Cyprus. During the 1948 Arab–Israeli War, Lowy served in the Gaza and Galilee, first joining the Haganah and then the Golani Brigade.
Personal Life
At the age of 21, Lowy met Shirley Rusanow at a Jewish dance, and the two were married in 1954. Three sons Peter, Steven, and David manage the family’s private investments and the Westfield business, respectively. The Chai Foundation, which funds research into cancer therapies that are less harmful yet effective, was founded by his wife.
Peter, his son, was chairman of the University of Judaism and currently serves as chairman of Tribe Media Corp, the parent company of the Jewish Journal. It was disclosed on the 2010 Australian television show Family Confidential that Lowy had concealed the fact that he had survived Nazi-occupied Hungary.
At the end of 2018, Lowy relocated to Israel. Following a protracted fight with dementia, Lady Lowy passed away in Tel Aviv in December 2020. In the documentary What Will Become of Us, which was shown at the 2019 Sydney Film Festival, Lowy candidly discussed the pain of gradually losing his wife.
Career
In 1952, Lowy departed from Israel to join his family in Australia, where they had established a modest goods delivery business after fleeing Europe. He got to know fellow immigrant John Saunders in 1953. After becoming business partners, the two developed a shopping center in Blacktown, in the western suburbs of Sydney, which led to the establishment of Westfield Development Corporation.
Lowy and Saunders created shopping centers throughout Australia and the US over the following 30 years. This firm was listed as Westfield Development Corporation on the Australian Stock Exchange in 1960. In 1987, Saunders sold his holdings and departed the business. Lowy moved the business to New Zealand in the 1990s and the United Kingdom in the 2000s.
Lowy began serving as a Reserve Bank of Australia director in 1995 and was reappointed in 2000 and 2003 before serving out his tenure in 2005. Documents taken by a former employee from the LGT Bank of Liechtenstein in 2008 identified Lowy and connected interests.
Lowy and his sons, David and Steven, were the subject of a subsequent US Senate investigation. Their audit by the Australian Taxation Office about their dealings with financial firms situated in tax havens in Switzerland and Liechtenstein. Lowy insisted that he had done nothing improper, that the ATO had resolved the issue, and that no more action was necessary.
Lowy assumed the position of non-executive chairman in May 2011 after formally stepping down as executive chairman of the Westfield Group in October 2010 after reaching 80. Peter and Steven, the sons, were appointed co-chief executives. After 55 years in the position, Lowy resigned as chairman of the Scentre Group in October 2015.
Australian football
The Hakoah Social Club, which was affiliated with the Hakoah Sydney City East FC football team, was presided over by Lowy in the 1980s. From 1977 until 1986, Hakoah participated in the National Soccer League. Lowy lost to a coalition led by former President Arthur George when he ran for a position on the Australian Soccer Federation board in 1982.
Hakoah played in front of 5,187 spectators to start the 1987 season. For Lowy, who had threatened to remove Hakoah from the tournament if attendance was poor, this was insufficient. Following a contentious general assembly, the membership decided to step down. By 1988, Lowy had left Club Hakoah and the sport altogether.
He would not return until 2004 the last year of the NSL and Soccer Australia following decades of poor decision-making and mishandling of broadcast contracts.
From 2003 until November 2015, Lowy served as the Football Federation Australia (FFA) chairman. Some commentators attribute the revival of soccer in Australia to him and former rugby union executive John O’Neill. There is now an “A-League” that airs on television, and the nation joined the Asian Football Confederation.
Lowy launched a campaign in 2007 with A$43 million in assistance from the Australian government to host the FIFA World Cup in Australia in 2022. Amid accusations of politics, bribery, and backstabbing in 2010, FIFA granted Qatar the privilege of hosting the World Cup.
He tumbled from a platform in 2015 right before the A-League trophy was supposed to be handed out. He had surgery in May 2015 to address a problem that resulted from the fall.
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Honors and achievements
He was made a Companion of the Order of Australia in 2000 in recognition of his contributions to society as a philanthropist. Who supports a wide range of social and cultural initiatives, as well as his development of the real estate and retail sectors both domestically and abroad.
In 2002, he was given the American Academy of Achievement’s Golden Plate Award in Dublin, Ireland, by Awards Council member Ehud Barak. He received the Woodrow Wilson Award for Corporate Citizenship from the Woodrow Wilson International Center for Scholars in 2005 as a result of founding the Lowy Institute. Lowy was presented with the Henni Friedlander Award for the Common Good on October 2, 2007, at Bowdoin College in Brunswick, Maine, USA.
As one of the country’s five most prominent living philanthropists, Australia Post recognized Lowy’s charitable contributions in 2008. By issuing a commemorative postage stamp as part of the Australian Legends series, which was unveiled on the eve of Australia Day.