Billionaire Profile
Jack Gance
Global Rank
#1226

Image: Public domain | via Wikimedia Commons

Jack Gance

CEO, Chemist Warehouse
AU
Real-Time Net Worth
$3.21B
As of December 2025
Age
79
Source
Pharmacies
Industry
healthcare
Citizenship
AU

Biography

Jack Gance, co-founder of Chemist Warehouse, is an Australian entrepreneur whose career spans over five decades. His source of wealth stems from the pharmacy industry, with a reported net worth of $3.21 billion as of 2024. Gance's journey began with his first pharmacy in 1972, and he later co-founded Chemist Warehouse in 1995, transforming the pharmacy landscape in Australia. Gance's achievements include building a retail empire and being named Entrepreneur of the Year in 2023. He continues to play a pivotal role in the healthcare industry.

Wealth Over Time

In-Depth Profile

Early Life

Jack Gance's parents, who survived the Holocaust, instilled in him the value of hard work and perseverance. His journey in the pharmacy business began after completing high school, opting for a pharmacy course over medicine due to the shorter study period. This led him to open his first pharmacy. Gance was exposed to the pharmacy industry from a young age, with family roots in the business.

Rise to Success

After working in his own chemist business, Gance began selling popular items to other chemists, building strong relationships with them. Bringing new brands like Le Specs and Australis Cosmetics became a logical step forward. These brands laid the foundation for the success of the Chemist Warehouse network. Gance, along with Mario Verrocchi, co-founded Chemist Warehouse in 1995. Today, the Chemist Warehouse Group has over 600 outlets across Australia, China, Dubai, Ireland, and New Zealand.

Key Business Strategies

A key strategy for Gance was offering affordable prescriptions and health and beauty products. His stores are designed to be destinations with a wide assortment of products and a focus on customer value. Another key strategy was building strong relationships with buyers and suppliers, emphasizing collaboration rather than competition.

Philanthropy

Gance and his family actively participate in philanthropic activities, supporting health services in Australia. The Evelynne and Jack Gance Foundation supports community services and other causes.

Career Milestones

1967

Qualified as a Pharmacist

Jack Gance qualified as a pharmacist and began his career in the pharmaceutical industry.

1972

Opened First Pharmacy

Jack Gance opened his first pharmacy store.

1976

Established Le Specs, Le Tan, and Australis Brands

Gance, along with his brother, established successful brands in sunglasses, perfume, and suntan lotion.

1991

Sold Pharmacy Business

Gance sold his pharmacy business while getting his MBA degree.

1995

Co-founded Chemist Warehouse

Jack Gance co-founded Chemist Warehouse with Mario Verrocchi.

2000

Expanded My Chemist Chain

My Chemist chain had 50 stores across Australia.

2023

Entrepreneur of the Year

Gance was recognized as the Entrepreneur of the Year.

Philanthropy & Social Impact

Community Services

Evelynne and Jack Gance Foundation

Undisclosed

The foundation supports community services.

Business Philosophy & Leadership

Notable Quotes

""The average pharmacist hates us because we have effected the whole margin structure in pharmacy.""

Leadership Principles

Customer-first vision

Catering to what consumers want: convenient access to affordable prescriptions and health and beauty products.

Strong relationships with buyers

Close relationships with buyers and emphasizing collaboration.