Frank Lowy Net Worth

Frank Lowy has an estimated net worth of $8.8 billion, according to Forbes Real-Time Billionaires, Frank Lowy profile (figures as of October 20, 2026). That is up from $6.5 billion in 2019.

Frank Lowy is an Australian businessman best known for building Westfield into a major shopping centre company. He met John Saunders in 1953, and they later became business partners. Their first big retail project led to Westfield Development Corporation. The company was listed in 1960. Over the next 30 years, it expanded across Australia and then into the United States from 1977. In the 1990s, Westfield moved into New Zealand and later the United Kingdom.

His wealth came largely from the mall business he built and from later investments. Forbes says an era ended in 2018 when Westfield Corp. was sold to Unibail-Rodamco in a $16 billion takeover, the biggest in Australia at that time. Forbes also notes that Lowy opened his first shopping center in Sydney in 1959. Today, the family’s main business is Lowy Family Group, with offices in New York, Los Angeles and Sydney, where Lowy is a principal alongside his sons David, Peter and Steven.

How Frank Lowy built his fortune

Lowy’s money story starts with retail property. After meeting John Saunders in 1953, he helped build a shopping centre business that became Westfield Development Corporation. The company listed in 1960 and grew steadily over decades. It expanded beyond Australia into the United States from 1977, then into New Zealand in the 1990s and the United Kingdom in the 2000s. That long run made Westfield the core of his wealth for many years.

The biggest turning point came in 2018, when Westfield Corp. was acquired by Unibail-Rodamco. Forbes says the deal was worth $16 billion and marked the end of a long chapter for Lowy’s mall empire. After that, the family’s main business became Lowy Family Group, an investment house with offices in New York, Los Angeles and Sydney. Forbes places him in Finance & Investments and describes him as self-made.

Forbes net worth over time

Forbes valued Frank Lowy at $6.5 billion in 2019, then $4.8 billion in 2020. The estimate later moved to $6.8 billion in 2022, before dipping to $6 billion in 2023. Those changes came after the Westfield sale, when the family’s main business had shifted to investments through Lowy Family Group. In other words, the Forbes number was tied less to running a mall operator and more to the value of investment holdings.

More recently, Forbes put Lowy at $7.9 billion in 2025 and currently shows $8.8 billion on its real-time billionaires tracker as of October 20, 2026. That places his latest Forbes estimate above every annual figure listed here. The business setup is now different from the Westfield years, but the source remains clear: investments, led through the family office where Lowy works with David, Peter and Steven.