The story behind it

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Last Friday, it was reported in the news that Frank Lowy, chairman and founder of Westfield, accepted the title of Queen Elizabeth II at Windsor Castle, becoming a person who can add Sir to his name-Sir Frank Lowy. Four days later, on Tuesday, he announced in London that Westfield had been acquired by European commercial real estate giant Unibail-Rodamco. This transaction has set a new record for Australian enterprises to acquire, and it is also the largest shopping mall acquisition in the world.

After the transaction, the 87-year-old man spent 62 years creating and ending this business empire, taking away billions of dollars in income and retiring from history.

However, when the trading activity ends, there will always be nostalgia, loss and sadness. Roy said, "When I look back, the past 57 years are longer than a lifetime. I am not sad, but for me, it is a bittersweet feeling. "

At the same time, Murdoch, another Jewish family on the other side of the ocean, is also negotiating with Disney to sell the news and entertainment empire he founded from scratch. The 86-year-old man is still paving the way for his sons.

Everyone should have learned what subtraction is at some stage, especially Jewish businessmen.

As an immigrant after World War II, Sir Frank Lowy's life is full of legends. He is always one step ahead of others.

He was only 25 years old when he established the first shopping center in Blacktown in partnership with Hungarian exile John Sanders. When Westfield went public in ASX, he was only 29 years old and began to travel around the world with it. Now, he is quitting smoothly.

But that doesn't mean the end. He and his sons will change from executives to investors. Lowy will become the chairman of the international advisory board of the newly established company after the acquisition, and provide external advice to the new company. He will also hold four other chairmanship positions: Loy Institute, an Australian-led think tank; Among the Israeli-led think tanks, INSS (Israel National Security Institute), Loy Medical Research Institute and Loy Family Group (LFG) are responsible for managing the private wealth, enterprises and charities of Israeli families.

It's not just money

Lowy has always insisted that there will be no Lowy dynasty. He and his wife Shirley have 1 1 grandchildren and four great-grandchildren, each of whom has his own life.

Roy has always said that he is happy to work with his sons David, Peter and Steven, but he never believes in bringing any family descendants into this industry. In Roy's opinion, this is too strict. He hopes that they can develop in their own way according to their own wishes.

The eldest son, David Lowy, is not only a businessman, but also owns his own band.

In the family, the elders are now active in the investment field. They invest in theaters, the Internet, medical clinics, non-profit organizations and small start-ups that have nothing to do with shopping centers.

His two sons are middle-aged now, and both of them are grandparents. Generally speaking, they have been working with their father for nearly 90 years, and now it's time to do what they want.

Sense of Time and Philosophy

Although Roy's current mood is very complicated, he said that he was "satisfied with the transaction 100".

One of the signs of Roy's business success is his sense of time-his ability to seize opportunities. At least on the surface, considering the aging of the family, everyone's geographical distribution and financial situation, the timing of this transaction seems ideal.

The market believes that the change of consumption pattern promoted by Amazon is also prompting Lowy to sell Westfield.

However, only time will tell whether people did the right thing at the right time.

Lowy said at a news conference on Tuesday night: "The most important thing about this transaction is that it is in the best interests of shareholders." "This principle has been guiding my business decision since 1960, and so has today's announcement."

Roy and his family will do well, too. He has been one of the richest people in Australia for more than 30 years. Although he is very happy to be the richest man in the 2065 438+00 BRW rich list, he still has his own philosophical understanding. At that time, he said, "Of course, I like to see my name ranked first, but I know there will always be richer people, bigger businesses, bigger houses, bigger planes and bigger boats in front of me."

A productive relationship

Rodamco, the owner of the acquirer Unibail-Rodamco, is no stranger to Westfield for this transaction. As early as 199 1, European real estate giants knocked on the door of Westfield, hoping to invest, Lowy put everything aside and concentrated on doing business.

He is honest with the general manager and other supervisors. After all, they fought for Roy through westerfield's portfolio. Roy spent a few days entertaining them to enhance their feelings. On a warm1February night, his boat slowly passed through Sydney Harbour, and the executives had dinner on the deck to celebrate Christmas.

Although the retail industry has had a season of better returns for 26 years, their relationship has been long and fruitful.

Lowy has always attached great importance to the power of interpersonal relationships. Like a never-ending machine, Lowy has developed the enterprise from a small deli in the suburbs of Sydney to the centers of London and new york.

Last month, at the request of a film crew, he returned to Blacktown in the west of Sydney. The deli opened in 1955, and then the first Westfield shopping center opened in 1959.

He was walking in the street where the shopping center was, when someone shouted, "Hi, Francci".

"They recognized me!" He said. "They were customers of the deli 60 years ago. When we recall these memories, they can still know me and live a happy life. This is a very wonderful feeling. What else do I want?