Sunday, 17 November 2013

7. John Gandel

Posted at  08:05  |  in  Richest Man in Australia

  •  Net Worth: $3.5 B                                                                      
  •  Source of Wealth: shopping malls
  •  Citizen: Australia
  •  Age: 79

John Gandel's investments in listed property companies helped lift the Melbourne tycoon's net worth. He first got rich expanding his Polish immigrant parents' women's clothing chain, Sussan, but his real wealth came from the shopping malls he bought from Myer department stores for $37 million in the 1980s. He owns 50% of Chadstone, the largest shopping center in Australia, which has plans to add a $525 million hotel and office tower. He donates money to health care, the arts and Jewish education. He and wife Pauline collect Japanese art.

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