Thursday, July 28, 2011

Frank Lowy Estimated Net Worth In 2011 | Richest Person In Australia

Frank Lowy Estimated Net Worth In 2011: $5 Billion (USD)

Frank Lowy net worth 2011

Frank Lowy (22 Oct 1930) is an Australian-Israeli businessman and was ranked #1 on the BRW Rich 200 list in 2010. He is a co-founder of the Westfield Group, operator of over 100 shopping centres in Australia, New Zealand, the United States and Great Britain.

Lowy was born in Czechoslovakia, and lived in Budapest, Hungary during World War II.In 1952, Lowy left Qiryat Tivon, Israel and joined his family, who had left Europe for Australia and started a business delivering small goods. In 1953, he met fellow Hungarian immigrant John Saunders. The pair became business partners, eventually creating Westfield (Saunders left the company in 1987). Business Review Weekly measures Lowy's wealth at A$6.3 billion, making him Australia's richest person, taking over from Andrew Forrest.

Lowy was a board member of the Reserve Bank of Australia and has been awarded a Companion of the Order of Australia.In September 2008 he was announced as a part of the FIFA board.


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