Rank #929
John Gandel
Net worth $4.6B
Shopping malls · Australia
- Born
- Aug 13, 1934
- Age
- 91
- Source
- Shopping malls
- Residence
- Melbourne
- Citizenship
- Australia
- Marital status
- Married
- Children
- 4
- Education
- Doctorate, Monash University
Net worth over time
Biography
- 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.
Financial assets
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