The 50 Wealthiest Angelenos: Peter Lowy – #46

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The money and the buzz on each of L.A.’s wealthiest.

THE MONEY: Mall magnate owns about 30 million shares of Westfield Group stock, which have gained nearly 25 percent in past year. Other holdings include one-third stake in $500 million nest egg created for Lowy and brothers in 1998.

BUZZ: Australian native recently named one of Harvard Business Review’s 100 Best-Performing chief executives, based on long-term financial performance. Took pay cut last year when Sydney-based company suffered amid global recession. Westfield one of largest mall owners in world with 120 properties in four countries. Owns marquee projects in Century City and Woodland Hills. Company said to be interested in acquiring some assets of bankrupt General Growth Properties. Long been involved with local Jewish causes, including American Jewish University. Among four philanthropists who kicked in $800,000 to keep Jewish Journal afloat. Has four kids with wife Janine and stays out of spotlight. Westfield founded by father Frank and business partner with suburban Sydney mall in 1959. Brothers David and Steven in family business. Forbes estimates family wealth at $3.6 billion.

• NET WORTH: $650 million +23%

• LAST YEAR: $530 million

• AGE: 51

• RESIDENCE: Los Angeles

• SOURCE OF WEALTH: Retail development

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