John Gandel
$4.3B
Born
Aug 13, 1934
Age
91
Source of Wealth
Shopping malls
Residence
Melbourne,
Citizenship
Australia
Marital Status
Married
Children
4
Education
Doctorate, Monash University
- John Gandel owns half of the southern hemisphere's largest shopping mall, Chadstone, with more than 500 stores in eastern Melbourne.
- He also has a big stake in listed property trust Vicinity Centres, which owns the other half of Chadstone, plus other malls and outlets.
- He first got rich by expanding his Polish immigrant parents' clothing chain for women, Sussan, now owned by his niece, Naomi Milgrom.
- He made most of his wealth from the shopping malls he bought from Myer department stores for $37 million in the 1980s.
- Gandel owns Point Leo Estate in the state of Victoria, which has a 50-acre vineyard and a sculpture park with 60 works.
- Gandel says the key to his success was the deregulation of shopping hours and shopping becoming a leisure activity.
- He maintains Gandel Philanthropy, one of Australia's largest charitable funds.
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