Frank Lowy

$8.75 B

Ranked #386 in World

About Frank Lowy

Esteemed as the 10th wealthiest Australian in 2023, Sir Frank P. Lowy, with a net worth of A$9.33 billion, is renowned for his extensive career in retail and philanthropy. The former chairman of the international commercial giant Westfield Corporation, Lowy pioneered the growth of shopping centers across several continents. His deep commitment to societal causes is exemplified by the Lowy Institute and support to Israel’s national security studies. A survivor of World War II's tribulations, Sir Frank's journey from Europe to corporate and philanthropic leadership in Australia symbolizes resilience and dedication.

Born

October 22, 1930

Age

95 years

Source Of Wealth

Investments

Industries

Finance & Investments

Citizenship

Australia

Residence

Tel Aviv

Frank Lowy was born in Czechoslovakia (now Slovakia) on October 22, 1930. His family was of Jewish Slovak-Hungarian origin. During World War II, Lowy and his family were forced to live in a ghetto in Hungary. In 1946, he made his way to France, but was caught by British authorities and interned in Cyprus.

In 1948, Lowy joined the Haganah, a Jewish paramilitary organization, and later served in the Golani Brigade of the Israel Defense Forces. He fought in the 1948 Arab-Israeli War.

Frank Lowy: Family

In 1954, Lowy married Shirley Rusanow. They had three sons: Peter, Steven, and David. Shirley Rusanow founded the Chai Foundation for cancer therapy research. Tragically, she passed away in 2020.

Frank Lowy: Career Highlights

In 1952, Lowy joined his family in Australia and started a small goods delivery business. In 1953, he met John Saunders and together they formed Westfield Development Corporation. Westfield developed shopping centres across Australia and the United States. In 1960, Westfield was listed on the Australian Stock Exchange.

In 1987, Saunders left the company and Lowy expanded Westfield to New Zealand and the United Kingdom. From 1995 to 2005, Lowy served as a Director of the Reserve Bank of Australia. In 2011, he stepped down as executive chairman of Westfield Group and became non-executive chairman. His sons, Steven and Peter, became joint chief executives.

Lowy stepped down as chairman of Scentre Group in 2015 after 55 years with the company.

Frank Lowy: Companies

Frank Lowy is associated with the following companies:

Westfield Corporation
Scentre Group
Westfield Development Corporation
Lowy Institute
Institute for National Securities Studies

Frank Lowy: Major Achievements

Frank Lowy's major achievements include:

Building Westfield Corporation into a global shopping centre giant
Establishing the Lowy Institute, Australia's leading foreign affairs think tank
Chairing the Football Federation Australia (FFA) from 2003 to 2015 and resurrecting soccer in Australia
Extensive philanthropy and support for various causes

Frank Lowy: Awards & Achievements

Frank Lowy has received numerous awards and recognitions, including:

Companion of the Order of Australia (2000)
Golden Plate Award of the American Academy of Achievement (2002)
Woodrow Wilson Award for Corporate Citizenship (2005)
Henni Friedlander Award for the Common Good (2007)
Commemorative postage stamp in 2008 as one of Australia's leading philanthropists
Knighted in the 2017 Queen's Birthday Honours (UK) for services to business and philanthropy

Frank Lowy: Personal Life & Legacy

Frank Lowy is known for his extensive philanthropy and support for various causes.

He is a patron of the arts and has donated to numerous cultural institutions. Lowy is also a strong supporter of Jewish causes and has established a number of foundations to support Jewish education and culture.

In 2010, Lowy revealed that his father had died in Auschwitz during the Holocaust. He has since commissioned the restoration of a railway wagon used to transport Hungarian Jews to Auschwitz and has attended the March of the Living to share his father's story.

In 2018, Lowy moved to Israel. He passed away on November 28, 2023, at the age of 93.

Frank Lowy: Trivia

Frank Lowy is a keen art collector and has a significant collection of Australian and international art.
He is a fan of classical music and opera and has supported a number of musical organizations.
Lowy is a keen sportsman and has played tennis and golf at a competitive level.
He is a patron of the Sydney Swans Australian rules football club.
Lowy is a dual citizen of Australia and Israel.

Wealth History

Timeline

1927

Born in Czechoslovakia (now Slovakia).

1942

Forced to live in a ghetto in Hungary during World War II.

1946

Made his way to France, caught by British authorities, and interned in Cyprus.

1948

Joined the Haganah and Golani Brigade, fought in the 1948 Arab-Israeli War.

1952

Joined family in Australia, started a small goods delivery business.

1953

Met John Saunders, formed Westfield Development Corporation.

1960

Listed Westfield on the Australian Stock Exchange.

1987

Saunders left the company, Lowy expanded to New Zealand and the United Kingdom.

1995

Appointed Director of the Reserve Bank of Australia.

2000

Awarded Companion of the Order of Australia for community service and philanthropy.

2002

Awarded Australia's leading philanthropist by Philanthropy Australia.

2002

Received the Golden Plate Award of the American Academy of Achievement.

2003

Established the Lowy Institute, an independent international policy think tank.

2003

Chaired the Football Federation Australia (FFA).

2005

Received the Woodrow Wilson Award for Corporate Citizenship.

2005

Stepped down as Director of the Reserve Bank of Australia.

2007

Received the Henni Friedlander Award for the Common Good.

2008

Commemorative postage stamp issued as one of Australia's leading philanthropists.

2010

Revealed his father's death in Auschwitz during the Holocaust.

2011

Stepped down as executive chairman of Westfield Group, became non-executive chairman.

2013

Attended the March of the Living, shared his father's story.

2015

Stepped down as chairman of Scentre Group after 55 years.

2015

Fell off a stage during an A-League trophy presentation, underwent surgery.

2015

Handed over power to son Steven Lowy, causing controversy and governance changes.

2017

Knighted in the 2017 Queen's Birthday Honours (UK) for services to business and philanthropy.

2018

Moved to Israel.

2020

Wife Shirley Rusanow passed away.

2022

Donated $18 million to Tel Aviv University.

Frank Lowy : FAQs

What is Frank Lowy's current net worth?

Frank Lowy's current net worth is $8.75 billion.

What is Frank Lowy's current global rank among billionaires?

Frank Lowy holds the 386th position globally among billionaires.

What is Frank Lowy's current ranking within the Australia?

Frank Lowy holds the 5th position in Australia.

What was the change in Frank Lowy's net worth compared to the previous year?

Frank Lowy's net worth decreased by 0.74 million dollars compared to the previous year 2025, when his net worth was 8.75 billion dollars.

What are Frank Lowy's main sources of wealth?

Frank Lowy's main source of income comes from Investments.

In which industry does Frank Lowy primarily operate?

Frank Lowy is primarily involved in the Finance & Investments industry.

How old is Frank Lowy?

Frank Lowy is 95 years old.

How many children does Frank Lowy have?

Frank Lowy has 3 children.

What is the Lowy Institute and who founded it?

The Lowy Institute is Australia's leading foreign affairs think tank, which was founded by Sir Frank P. Lowy in 2003 to conduct independent policy research and encourage international debate.