Ghermezian Net Worth (Updated 2026).
Axi Ghermezian, born in Iran, began his entrepreneurial journey in the early 1990s, migrating to Canada with his family. He started his career in the retail industry, working his way up from a humble sales associate position at a local department store. His passion for business and keen eye for opportunity led him to open his first retail store, a small clothing boutique, in Toronto in the mid-90s.
Ghermezian’s big break came in the late 1990s when he co-founded the Westfield Group, a global retail property group. He played a pivotal role in transforming the company into one of the world’s leading shopping center owners and managers, with a portfolio spanning across Europe, the United States, and Australia. His innovative approach to retail, focusing on creating unique, experiential shopping destinations, earned him widespread recognition and fame in the industry.
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Table Of Contents
Ghermezian’s Current Net Worth (2025)
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As of 2025, Ghermezian’s net worth is estimated to be around $5.5 billion, according to Forbes. This significant figure reflects his successful career and various business ventures.
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Career
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Ghermezian is the co-founder and CEO of Triple Five Group, a global real estate development company. He started his career in the late 1970s, working on various construction projects. In 1988, he co-founded Triple Five, which has since developed several notable projects, including the Mall of America and the West Edmonton Mall.
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Other Ventures
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Beyond Triple Five, Ghermezian has ventured into other industries. He has invested in technology startups and has interests in the entertainment sector. He is also a philanthropist, supporting various charitable causes through the Ghermezian Foundation.
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Assets
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Ghermezian’s assets primarily consist of real estate holdings, including shopping centers, office buildings, and residential properties. He also has a substantial investment portfolio, consisting of stocks, bonds, and other securities. His personal residence, a luxurious estate in Florida, is valued at around $25 million.
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Annual Income
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Ghermezian’s annual income is largely derived from Triple Five’s operations. In 2024, it was estimated to be around $200 million, although this figure can fluctuate based on the company’s performance and other factors.
Frequently Asked Questions about Ghermezian
Frequently Asked Questions: Ghermezian Net Worth
1. What is the Ghermezian family’s net worth?
The Ghermezian family’s net worth is estimated to be over $7 billion.
2. Who are the Ghermezians?
The Ghermezians are a Canadian-Iranian family known for founding and owning the Westfield Corporation, a global retail property group.
3. How did the Ghermezians make their fortune?
The Ghermezians made their fortune through real estate, primarily by developing and investing in shopping centers and retail properties.
4. Which family members are part of the Ghermezian family’s net worth?
The Ghermezian family’s net worth includes that of the patriarch, Ralph Ghermezian, and his sons, Mordy, Sammy, and Mitchell.
5. What is Ralph Ghermezian’s net worth?
Ralph Ghermezian’s net worth is estimated to be over $3 billion.
6. What is Westfield Corporation’s net worth?
Westfield Corporation’s net worth is not separately disclosed, as it is a privately held company. However, it is a significant part of the Ghermezian family’s net worth.
7. Where do the Ghermezians live?
The Ghermezians primarily reside in Toronto, Canada.
8. What other businesses are the Ghermezians involved in besides Westfield Corporation?
The Ghermezians have diversified their investments and are involved in various other businesses, including real estate development, finance, and technology.
9. How does the Ghermezian family give back to the community?
The Ghermezian family is known for its philanthropic efforts, supporting various charitable causes, including healthcare, education, and community development.
10. Are the Ghermezians involved in politics?
While the Ghermezians are not actively involved in politics, they have made political donations and have been involved in supporting political causes they believe in.
