#481

John Gandel

$3.6 Billion
Age
:
80
Source
:
shopping malls
Gender
:
Male
Residence
:
Melbourne, Australia
Marital Status
:
Married
Children
:
4
Citizenship
:
Australia
Education
:
Doctorate, Monash University
Description :

John Gandel owns half of the southern hemisphere's largest shopping mall, Chadstone, with more than 500 stores in eastern Melbourne. "Chaddy" will expand by 20% after approval of plans for a hotel and office tower. He says the key to his success was the deregulation of shopping hours and shopping becoming a leisure activity. He first got rich by expanding his Polish immigrant parents' women's clothing chain, Sussan, now owned by his niece, Naomi Milgrom. But his real wealth came from the shopping malls he bought from Myer department stores for $37 million in the 1980s. He sold his 56-meter luxury yacht Galaxy for $29 million in 2013. His mansion in Melbourne's poshest suburb, Toorak, is said to be the city's most valuable. He donates money to health care, the arts and Jewish education. He and his wife Pauline collect Japanese art.

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