Frank Lowy, a name synonymous with entrepreneurship and philanthropy, stands as a symbol of resilience and success. Zatrun.com has delved into the life and achievements of this remarkable figure, offering a closer look at the captivating journey of Frank Lowy. From humble beginnings in Czechoslovakia to becoming a billionaire businessman, Lowy’s life is a testament to determination, dedication, and making a difference in the world.
Frank Lowy: Early Life and Experiences
Frank Lowy’s story begins in Czechoslovakia, now Slovakia, where he was born. However, his early years were marked by the harrowing experiences of World War II, as he was forced to endure life in a Hungarian ghetto.
Despite the challenges, he embarked on a remarkable journey. In 1946, he made his way to France with the intention of reaching Mandatory Palestine. Unfortunately, his route was intercepted by the British authorities, leading to his internment in a detention camp in Cyprus. It was there that Lowy’s journey took an unexpected turn. He joined the Haganah and later the Golani Brigade, actively participating in the 1948 Arab-Israeli War in the Galilee and Gaza.
Building a Business Empire
In 1952, Frank Lowy decided to reunite with his family, who had relocated to Australia. It was in Australia that he and fellow immigrant John Saunders crossed paths, marking the beginning of a transformative partnership.
Together, they established the Westfield Development Corporation, initiating their journey in the world of shopping centers. Over the next three decades, Lowy and Saunders expanded their shopping center empire across Australia and the United States, listing the company on the Australian Stock Exchange in 1960.
Frank Lowy’s influence extended beyond the business realm. He was appointed as a Director of the Reserve Bank of Australia, serving multiple terms. However, his path was not without its challenges, as he and his sons, David and Steven, faced scrutiny over their financial involvement with institutions in tax havens.
In October 2010, Lowy stepped down as the Executive Chairman of the Westfield Group and transitioned into the role of non-executive chairman. This significant change marked a new chapter in the Westfield legacy as his sons, Steven and Peter, became joint chief executives.
Philanthropy and Compassion
Frank Lowy is not only known for his business acumen but also for his philanthropic endeavors. He founded the Lowy Institute, Australia’s leading foreign affairs think tank. He also played a crucial role as Chairman of the Football Federation Australia (FFA) and was instrumental in revitalizing soccer in Australia. His dedication to philanthropy extended to donations supporting cancer research, education, and various social and cultural causes.
The impact of Frank Lowy’s contributions to the community and philanthropic efforts earned him several prestigious awards and recognitions. He received the Companion of the Order of Australia, the Woodrow Wilson Award for Corporate Citizenship, and the Henni Friedlander Award for the Common Good, among others. In 2017, he was knighted in the Queen’s Birthday Honours (UK) for his outstanding services to business and philanthropy.
Frank Lowy’s life journey is a source of inspiration and admiration. His resilience in the face of adversity, coupled with his remarkable success, is a testament to the human spirit. From his early days in Czechoslovakia to becoming a billionaire businessman and a dedicated philanthropist, Lowy’s story highlights the transformative power of determination and compassion. His legacy will continue to inspire generations to come, leaving an indelible mark on the world.
In the ever-evolving landscape of entrepreneurship and philanthropy, Frank Lowy’s unwavering commitment serves as a guiding light for future generations. His remarkable journey reminds us that the path to success is often paved with resilience, compassion, and an unyielding dedication to making the world a better place, leaving a legacy that will endure through time.
