John Gandel Net Worth

John Gandel has an estimated net worth of $4.4 billion, according to Forbes Real-Time Billionaires, John Gandel profile (figures as of October 20, 2026). That is up from $4 billion in 2019.

John Gandel is an Australian businessman and property developer known for shopping centres in Melbourne, Victoria. He first built up his parents' women’s clothing business, Sussan, turning it into a chain with over 200 stores. In 1983, he bought Chadstone Shopping Centre and then sold Sussan in 1985 to focus on real estate. From there, he built his fortune through commercial property, especially large retail centres tied to changing shopping habits.

His wealth is closely linked to Chadstone, which he owns half of, and to a major stake in Vicinity Centres, the listed property trust that owns the other half plus other malls and outlets. Forbes says he made most of his money from shopping malls bought from Myer for $37 million in the 1980s. He has also said longer shopping hours and the rise of shopping as a leisure activity were key parts of his success.

How John Gandel built his fortune

Gandel’s business story started in the 1950s, when he took control of his parents’ women’s clothing company, then called Sussan. Working with Marc Besen, he expanded it into a retail chain with over 200 stores. That gave him a base in Australian retail before he shifted toward property. His big move came in 1983, when he bought Chadstone Shopping Centre and began concentrating on commercial real estate instead of fashion retail.

Shopping centres became the core of his wealth. Forbes says he made most of it from malls he bought from Myer for $37 million in the 1980s. Today, he owns half of Chadstone, described by Forbes as the southern hemisphere’s largest shopping mall, with more than 500 stores in eastern Melbourne. He also holds a big stake in Vicinity Centres, which owns the other half of Chadstone and other malls and outlets. Beyond property, he owns Point Leo Estate, with a 50-acre vineyard and a sculpture park with 60 works.

Forbes net worth over time

Forbes valued Gandel at $4 billion in 2019, then $2.9 billion in 2020. The estimate rose to $3.8 billion in 2021, before moving to $3.3 billion in 2022. Those swings match a fortune built mainly around shopping malls and listed property holdings, including Chadstone and Vicinity Centres. Because so much of his wealth is tied to retail property, changes in those assets can have a large effect on yearly estimates.

The Forbes estimate later moved to $3.6 billion in 2024, $3.7 billion in 2025, and $4.6 billion in 2026. As of October 20, 2026, Forbes' real-time billionaires tracker put him at $4.4 billion. His money story is still centered on the same assets: Chadstone, Vicinity Centres, and the retail real estate portfolio he built after leaving the clothing business. He also maintains Gandel Philanthropy, one of Australia’s largest charitable funds.