Frank P Lowy

Founder of Westfield shopping mall chain, one of the world's biggest listed retail property groups. Family owns 8% of stock; Frank Lowy is executive chairman, sons Steven and Peter are joint managing directors and son David runs the family's private global hedge fund. Began 50 years ago with one delicatessen in Sydney, after Czech-born Lowy fled post-war Europe; now owns 119 malls in Australia, New Zealand, the US and Britain. In November announced spin-off of 50% ownership of malls in Australia and New Zealand into a new listed trust, Westfield Retail, in attempt to lift stagnant share price. He's locked in a fierce battle with U.S. tax authorities over his alleged misuse of a Liechtenstein tax haven. Chairman of Football Federation Australia. Sons Steven and Peter are in the business and son David runs the family's private hedge fund.