John Gandel is an Australian property developer and businessman, who is worth US $ 3.6 billion as of now. His fortune comes primarily from developing real estate on commercial basis, especially shopping malls. Many of his shopping centers are located in the city of Melbourne, Victoria. Son of a Polish immigrant couple, Gandel inherited a large part of his wealth from his family business, Sussan. It is a chain of women’s clothing still operational in Australia. Both Forbes magazine and BRW have ranked John Gandel among top 10 richest persons in Australia.
Gandel’s parents ran the Sussan women’s clothing business, which he took control over in the 1950s. John then partnered with Marc Besen, his brother in law, with whom he grew the chain and expanded it to more than 200 stores. In 1983, he sold Sussan to Besen, bought Chadstone Shopping Center for A$ 37 million, and started concentrating on his real estate business. Subsequently, Gandel added several shopping centers to his business empire. Chadstone is now one of the biggest shopping malls in Australia, valuing to more than $3 billion.