The expansion of Westfield Development Corporation began with the construction of a single shopping centre in Blacktown, Sydney, in the early 1950s. This initiative laid the foundation for a global real estate empire that eventually managed US$29.3 billion in assets across Australia, the United Kingdom, and the United States before its 2018 acquisition by Unibail-Rodamco.
Early Experiences and Migration
Born in 1930 in Fiľakovo, Czechoslovakia, Frank Lowy experienced the constraints of life in a Hungarian ghetto during World War II. Following the conflict, he travelled to France in 1946 to board the ship Yagur, intended for Mandatory Palestine. British authorities intercepted the vessel, leading to his internment in Cyprus. Upon reaching the region, he joined the Haganah and the Golani Brigade, participating in the 1948 Arab–Israeli War in the Galilee and Gaza regions. He departed for Australia in 1952.
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In 1953, Lowy partnered with immigrant John Saunders to launch a small goods delivery enterprise. They pivoted to retail property, establishing Westfield Development Corporation, which listed on the Australian Stock Exchange in 1960. By 1977, the firm entered the United States market. Saunders exited the partnership in 1987. Lowy served as executive chairman of Westfield Group until May 2011, when he transitioned to non-executive chairman. He retired from the Scentre Group chairmanship in 2015 after 55 years of service.
Public Service and Financial Scrutiny
Lowy served as a Director of the Reserve Bank of Australia from 1995 to 2005. In 2008, his name surfaced in documents stolen from the LGT Bank of Liechtenstein. A subsequent investigation by the United States Senate and an audit by the Australian Taxation Office reviewed the financial involvement of Lowy and his sons, David and Steven, in tax havens. The matter reached a settlement with the Australian Taxation Office, and no further action was taken.
Football Governance
After a hiatus from the sport following his time with the Hakoah Social Club, Lowy returned to football administration in 2003. Tasked by the federal government under the Crawford Report, he liquidated the existing Soccer Australia organization to establish the Football Federation Australia. He served as chairman until 2015, overseeing the launch of the A-League and managing the transition of the sport's national administrative structure.
Fast facts
- Born: 1930, Fiľakovo
- Citizenship: Australia
- Key Business: Westfield Corporation
- Awards: Knight Bachelor, Companion of the Order of Australia (2000)
- Reserve Bank Tenure: 1995–2005
- Net Worth (2025): A$10.28 billion
- Moved to Israel: 2018
- Spouse: Shirley Rusanow (died 2020)
Questions readers ask
What is the Lowy Institute?
It is a foreign affairs think tank founded by Frank Lowy, based in Australia.
Did Frank Lowy serve in the military?
Yes, he served in the Haganah and the Golani Brigade during the 1948 Arab–Israeli War.
Achievements
- Knight Bachelor
- Centenary Medal — 2001
- Companion of the Order of Australia — 2000
