John Gandel
Overview
- Source of Wealth
- Shopping malls
- Industry
- Real Estate
- Residence
- Melbourne
- Education
- Monash University (Doctorate)
- Marital Status
- Married
- Children
- 4
Assets
- Alkane Resources111,228,000 shares @ --ALK-AU
- Australian Strategic Materials34,743,000 shares @ --ASM-AU
- Vicinity Centres691,239,000 shares @ --VCX-AU
Biography
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.
He first got rich by expanding his Polish immigrant parents' clothing chain for women, Sussan, now owned by his niece, Naomi Milgrom.
He made most of his wealth from the shopping malls he bought from Myer department stores for $37 million in the 1980s.
Gandel owns Point Leo Estate in the state of Victoria, which has a 50-acre vineyard and a sculpture park with 60 works.
About
Gandel says the key to his success was the deregulation of shopping hours and shopping becoming a leisure activity.
He maintains Gandel Philanthropy, one of Australia's largest charitable funds.