AUSTRALIA ’ S HIGHEST EARNERSS
4 . FRANK LOWY $ 7.16 billion , Westfield Group
3 . JAMES PACKER $ 7.19 billion , Consolidated Press Holdings Limited
AFTER CO-BUILDING A shopping mall with friend John Saunders in 1959 , Frank Lowy began expanding his malls to countries like the UK , the US and New Zealand . Since the Business Review Rich 200 was first published in 1983 , Lowy has made an appearance , even being named the richest person in Australia in 2010 .
As of today , Lowy owns more than $ 65 billion worth of Westfield shopping malls around the world , but has recently stepped down to occupy a non-executive chairman position for the company . Currently , his two sons work together as joint chief executives the Westfield brand .
AFTER INHERITING A leadership role within Consolidated Press Holdings Limited , his family ’ s company , Packer gained control over investments in several entertainment and resort companies such as Crown Resorts , Ratpack Entertainment and Zhoapin Pty Ltd , among other companies .
The Sydney native was ranked the richest person in Australia from 2006 to 2007 , earning Crown a market capitalization of over $ 11 billion . The Australian resort accumulates over 25 million visits annually .
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