John Gandel’s profile picture

John Gandel

John Gandel’s profile picture
Net worth 2018: $4.02 Billion
Industry: Real Estate
Residence: Melbourne, Australia
Country: Australia
BirthDay: 1935
Children: 4
Education: Doctorate, Monash University
BIOGRAPHY

John Gandel was bornon 1935 in Melbourne, Australia, Australia. John Gandel is #531 in List Billionaires People In The World. 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. Gandel 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. Today Gandel maintains one of Australia's largest philanthropic funds.

NET WORTH STATISTIC
2009

$1.1 Billion

2010

$2.4 Billion

2011

$3.4 Billion

2012

$3.2 Billion

2013

$3.5 Billion

2014

$3.4 Billion

2015

$3.6 Billion

2016

$3.3 Billion

2017

$4 Billion

2018

$4.02 Billion

TIMELINE
2017

In 2017, Gandel was named Companion (AC) of the Order of Australia for his service to the community as a benefactor and supporter of a range of visual arts and cultural institutions, to youth education, medical and biotechnology innovation programs, to business and to the advancement of philanthropic giving

2016

05 billion; and in 2016 also ranked seventh by Forbes magazine, with an assessed net worth of US$3

2012

In 2012 Gandel sold his stake in the Northland Shopping Centre for A$455 million and announced an A$500 million hotel and office redevelopment at Chadstone in 2011

2007

Gandel was targeted as a possible major donor to Israeli politician Benjamin Netanyahu before the Likud's primary election in 2007, which he subsequently won

2006

In May 2006, Gandel was awarded an honorary doctorate of philosophy from Tel Aviv University, the university's highest honor, for his "business standing, broad leadership roles and philanthropic support in Australia and Israel

1990

In 1990, Gandel was appointed an Officer of the Order of Australia in recognition of his service to business, commerce and to the community

1983

In July 1983, the Myer Emporium also sold the Northland Shopping Centre to the Gandel Group

1978

Since 1978, Gandel and his wife have headed up Gandel Philanthropy, one of the largest philanthropic family funds in Australia

1950

In the 1950s, Gandel took control of his parents' women's clothing business (then named Sussan) in the 1950s and with his brother-in-law Marc Besen grew it into a chain of over 200 stores

1935

Gandel was born in Australia in 1935, the son of Sam and Fay Gandel, Jewish immigrants from Poland

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