May 23, 2013

Are the Lowys worth their $300m salaries?

The Lowy family still continue to draw millions from Westfield, which is extraordinary. But now shareholders are thinking about putting a stop to it.

Stephen Mayne — Journalist and Founder

Stephen Mayne

Journalist and Founder


The 2013 BRW Rich List is out, and the Lowy family of Westfield fame have clawed their way back into second place, having increased their pile by $400 million to $6.87 billion.

Westfield shareholders have been very generous to the family over the years, but will they continue to tolerate excessive salaries to Frank Lowy’s two boys, Steven and Peter Lowy, who pocketed a combined figure of almost $20 million in 2012?

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5 thoughts on “Are the Lowys worth their $300m salaries?

  1. Juffy

    Got misleading headline, Stephen?

    “Salary” implies a regular payment (eg. monthly or annually), not the total payments (between three people, no less) over a period of 20 years – which tidbit of information was hidden well down the article.

  2. Harry Rogers

    Good luck Stephen and be careful as all these rich people have a history of suing if they are critisised viz the soccer debacle. Remember there are sacred cows in Australia that nobody can touch.

    The great relief is that the same dogs will be on their graves just like mine.

  3. Kevin Herbert

    Nice one Harry….

  4. AR

    Nice to see Mayne back in form. encore, encore!

  5. Harry Rogers


    Thanks for the update regarding salaray etc. Anything misleading deserves correction. However I’m genuinely confused. Salary wise does that mean I have to take 300/20 as their salery and the divide by 3???

    Does this make $8.3 million each per annum or is it an average please inform?

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