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Monumental merger marks end of an era for billionaire business giant

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Westfield shareholders have voted in favour of a monumental $33 billion-dollar merger today, marking the end of an era for the Lowy family.

Founder and chairman Sir Frank Lowy urged shareholders to vote for the deal with European giant Unibail-Rodamco, describing the takeover as “highly compelling”.

As Westfield’s future takes a new turn so does Sir Lowy’s, with the move marking the end of his 60-year career.

Frank Lowy arrived in Australia with nothing. He built an empire to become one of Australia’s wealthiest people and is now worth over $8 billion.

Sir Lowy tells Ross Greenwood he never imagined he’d come this far.

“Not in the wildest dreams could I have imagined to reach the heights that I have reached. It’s all because of Australia. It gave me the opportunity, it encouraged me.

“This is the most wonderful country in the world.”

Sir Lowy has a simple message for young migrants trying to make their mark.

“Get going, son. Make sure you work hard and you do the right thing.”

Sir Lowy’s son Peter tells Ross his father has an ability to get the best out of everyone.

Peter’s brother David Lowy echoes the sentiment, saying his father is a great leader with a grand vision.

Click PLAY below to hear from Sir Frank Lowy