Early Life
Frank Lowy was born on October 22, 1930, in Fiľakovo, Czechoslovakia (now Slovakia), to a Jewish family. His early life was marked by the challenges of World War II, during which his family fled the Nazi occupation. Lowy survived the Holocaust in Hungary before migrating to Australia in 1952. He was a teenager during WWII and experienced first-hand the persecution of Jews.
Rise to Success
In Australia, Lowy partnered with John Saunders to open a delicatessen. This venture evolved into Westfield Development Corporation in 1960. Westfield expanded to become a global shopping center powerhouse. Lowy served as the Executive Chairman for five decades, overseeing the growth into a firm managing over $50 billion in assets. In 2018, Unibail-Rodamco acquired Westfield Corporation in a $16 billion deal, Australia's largest corporate takeover at the time.
Key Business Strategies
Lowy's key business strategy involved developing shopping centers in suburban areas, recognizing the potential of retail spaces. He expanded Westfield internationally, taking the company to the United States and Europe, which substantially grew his wealth. In 1960, Westfield was listed on the Australian Stock Exchange.
Philanthropy
Frank Lowy is a significant philanthropist. He established the Lowy Institute for International Policy in 2003 and has donated millions to various causes. In 2022, he donated $18 million USD to Tel Aviv University to expand its International School, which was then renamed 'THE LOWY INTERNATIONAL SCHOOL Dedicated to the Memory of Shirley Lowy.' The family has given over $350 million in the last 10 years.
