John Gandel Net Worth is$Billion
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Religion: Jews
Spouse: Pauline Gandel
Children: Four
Networth: {{loss}} {{AUD}}3.35 billion (''BRW Rich 200'' 2012) Occupation: Property developer
Nationality: Australian
John Gandel (born 1935), an Australian businessman, is a property developer who made his fortune in the development of commercial real estate, in the main, shopping centers located in Melbourne, Victoria.
Gandel, who inherited much of his wealth from his Polish-immigrant parents, founders of the Sussan women's clothing chain, is consistently ranked within the top ten wealthiest Australians by both the BRW Rich 200 and Forbes magazine.
Gandel joined his parents' business of Sussan in the 1950s and eventually ran it. In 1983, he bought the Chadstone Shopping Centre, selling Sussan to his brother-in-law in 1985 to concentrate on real estate. He subsequently built his own fortune in shopping centers.
In July 1983, the Myer Emporium sold the Chadstone Shopping Centre to the Gandel Group for A$37 million, which has since managed and developed the complex into Australia's biggest shopping mall which is now valued at over $3 billion. In July 1983, the Myer Emporium also sold the Northland Shopping Centre to the Gandel Group. Gandel's major assets are 50 per cent shares in Chadstone, and a 17 per cent stake in the listed CFS Retail Property Trust that owns the other half. Gandel also owns significant stakes in listed property companies, besides the stake in the CFS Retail Trust, worth about A$800 million, and a 15 per cent stake in Sydney-based property group, Charter Hall, in which he invested A$151 million.
According to a January 2012 Herald Sun report, Gandel is the richest man in Melbourne, with an estimated A$3.4 billion fortune. His most recent move has been to sell his stake in the Northland Shopping Centre for A$455 million and to announce an A$500 million hotel and office redevelopment at Chadstone in 2011.
In 2006, Gandel bought a 50% stake in Plastro Irrigation Systems, an Israeli irrigation company. In May 2007, the majority owners of the company exercised a right they held and bought back these holdings.
Gandel was educated at Melbourne High Sc

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