Ghermezian Family Net Worth (Updated 2026).
The Ghermezian family, originally from Iran, began their entrepreneurial journey in the 1960s. They started with a small textile business, importing and exporting goods, which laid the foundation for their future success. Their hard work and business acumen led them to diversify into various industries, eventually becoming a prominent name in the global business landscape.
The family’s big break came in the 1980s when they ventured into the retail sector. They saw an opportunity in the growing demand for shopping centers and began developing and managing their own properties. Their first major project was the West Edmonton Mall in Canada, which opened in 1981. This iconic mall, featuring a indoor water park, amusement park, and numerous attractions, put the Ghermezians on the map and solidified their reputation as innovative and successful entrepreneurs.
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Ghermezian Family’s Current Net Worth (2025)
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The Ghermezian family, founders of the West Edmonton Mall, has an estimated net worth of $7.5 billion as of 2025, according to Forbes. This figure reflects their significant investments and ownership in various retail and real estate ventures.
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Career
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The Ghermezian family’s career began with Iranian immigrant father, Samuel, who started a small furniture business in Canada. His sons, Alfred and Albert, expanded the business, leading to the construction of the world’s largest shopping mall, the West Edmonton Mall, in the late 1970s and early 1980s. Today, they are known for their innovative approach to retail and real estate development.
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Other Ventures
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Beyond the West Edmonton Mall, the Ghermezians have diversified their portfolio. They own and operate the Mall of America in Minnesota, the largest mall in the United States. Additionally, they have invested in other retail properties, office spaces, and residential developments across North America.
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Assets
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The Ghermezian family’s assets primarily consist of their stakes in shopping malls, including the West Edmonton Mall and the Mall of America. They also own significant real estate properties, including office buildings and residential complexes, primarily in Canada and the United States.
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Annual Income
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As of 2025, the Ghermezian family’s annual income is estimated to be around $300 million. This is primarily generated from the rental income of their shopping malls and other real estate properties, as well as their investments in various businesses.
Frequently Asked Questions about Ghermezian Family
1. What is the Ghermezian Family’s net worth?
The Ghermezian Family’s net worth is estimated to be around $10 billion.
2. Who are the members of the Ghermezian Family?
The Ghermezian Family is led by the patriarch, Alex Ghermezian, and his wife, Bonnie Ghermezian. Their children, Nader, Sam, Mike, and Andy, are also involved in the family’s business ventures.
3. How did the Ghermezian Family build their wealth?
The Ghermezian Family built their wealth through their retail and real estate businesses. They are the founders of Westfield Group, one of the world’s largest shopping center owners and developers.
4. Where are the Ghermezian Family’s shopping centers located?
The Ghermezian Family’s shopping centers are located in various parts of the world, including the United States, United Kingdom, France, and Australia.
5. What is the total square footage of the Ghermezian Family’s shopping centers?
The Ghermezian Family’s shopping centers have a total gross leasable area of over 23 million square feet.
6. Are the Ghermezian Family’s shopping centers open to the public?
Yes, the Ghermezian Family’s shopping centers are open to the public. They are designed to provide a unique shopping experience with a wide range of retail stores, dining options, and entertainment facilities.
7. Does the Ghermezian Family have any other business ventures besides shopping centers?
Yes, the Ghermezian Family has diversified their business interests into other areas such as real estate development, finance, and technology.
8. Are the Ghermezian Family involved in any philanthropic activities?
Yes, the Ghermezian Family is involved in various philanthropic activities. They have established the Ghermezian Foundation, which supports education, health, and community development initiatives.
9. Where does the Ghermezian Family live?
The Ghermezian Family resides in various locations around the world, including the United States, Canada, and Europe.
10. How can I contact the Ghermezian Family?
To contact the Ghermezian Family, you can reach out to their office through their official website or by using the contact information provided on their website.
