Early Life and Background
John Gandel AC, born Aaron Jonna Gandel in 1935, is an Australian businessman, renowned property developer, and philanthropist. He is the son of Polish-Jewish immigrants, Sam and Fay Gandel, who settled in Melbourne and operated a corsetry store on Collins Street. John grew up in this entrepreneurial environment, alongside his sister, Eva Gandel Besen, and attended Melbourne High School. His upbringing, shaped by his parents’ hard work and perseverance, played a crucial role in defining his business acumen and philanthropic spirit.
The Early Business Years: Sussan Clothing Chain
John Gandel’s career began in the 1950s when he took control of his parents’ women’s clothing business, Sussan. Together with his brother-in-law, Marc Besen, Gandel expanded the business into a formidable chain of over 200 stores across Australia. Under his leadership, Sussan became a well-known name in retail fashion, catering primarily to women. However, in 1985, after years of remarkable growth, Gandel sold his interest in Sussan to Besen and shifted his focus to the world of property development—an industry where he would go on to make his fortune.
Transforming Chadstone: A Milestone in Australian Retail
In 1983, John Gandel made a pivotal investment by purchasing Chadstone Shopping Centre from Myer for $37 million. This marked the beginning of a transformative period for both Gandel and the centre. Under his ownership, Chadstone grew to become the largest shopping mall in the Southern Hemisphere, featuring over 500 stores. Valued at over A$3 billion, Chadstone has remained a cornerstone of Gandel’s success in commercial real estate.
In addition to Chadstone, Gandel also acquired the Northland Shopping Centre in Melbourne. Although he later sold his stake in Northland for A$455 million in 2012, his strategic acquisitions of these properties solidified his place as one of Australia’s most successful real estate magnates.
Expanding into Property Investment
Beyond Chadstone, John Gandel has cultivated a broad property portfolio. He owns 50% of Chadstone Shopping Centre and holds a 17% stake in Vicinity Centres, which controls the other half. Gandel also invested heavily in other real estate ventures, including a 15% stake in Sydney-based property group Charter Hall. His astute investments in these companies have further expanded his wealth, making him a dominant figure in Australia’s commercial property sector.
Philanthropy and Community Contributions
John Gandel’s success in business has been matched by his extraordinary commitment to philanthropy. Together with his wife, Pauline Gandel, he leads Gandel Philanthropy, one of Australia’s largest independent philanthropic foundations. Their efforts have supported causes ranging from Jewish cultural and educational programs to medical research and the arts.
Some of the notable contributions include A$7.5 million to the National Gallery of Australia, A$1 million towards bushfire relief, and A$1 million to Museums Victoria. Additionally, the Gandels were instrumental in establishing the Gandel Institute for Adult Jewish Learning at the Hebrew University of Jerusalem, furthering their commitment to fostering education and cultural preservation.
Pauline Gandel, an influential figure in her own right, was appointed a Companion of the Order of Australia (AC) in 2019 for her extensive humanitarian work. Together, the Gandels have four children and reside in Toorak, Melbourne.
Personal Life and Legacy
Despite his enormous wealth, John Gandel maintains a relatively private life, deeply focused on both his business endeavors and philanthropic projects. His personal values and Jewish heritage have been driving forces behind his philanthropy, as evidenced by his unwavering support for Jewish and Australian causes alike.
Gandel’s success and contributions have earned him numerous accolades, including an Officer of the Order of Australia in 1990 and a Companion of the Order of Australia in 2017. He also received an honorary doctorate from Tel Aviv University for his contributions to the Jewish community and wider society.
Wealth and Recognition
As one of Australia’s wealthiest individuals, John Gandel has consistently ranked within the top 15 on the Financial Review Rich List since its inception in 1984. In 2023, his net worth was estimated at A$6.33 billion, and in 2019, Forbes placed him at eighth in Australia with a net worth of US$4.00 billion.
Legacy of Excellence
John Gandel’s journey from managing his family’s modest clothing business to becoming a titan of the Australian real estate industry is a testament to his entrepreneurial spirit, strategic vision, and commitment to excellence. His dedication to giving back to the community ensures that his legacy will not only be defined by business achievements but also by the lasting impact of his philanthropic efforts.
