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Terry Snow

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Terry Snow
AM
Snow in 2011
Born
Terrence Mark Snow

1943 (1943)
Canberra, Australian Capital Territory, Australia
Died (aged 80)
NationalityAustralian
EducationCanberra Grammar School
Occupation(s)Businessman; entrepreneur; philanthropist
Known forRedevelopment of Canberra International Airport and associated business parks
SpouseGinette Snow
Children4

Terrence Mark Snow AM (1943 – 4 August 2024) was an Australian businessman, accountant, entrepreneur, and philanthropist based in Canberra in the Australian Capital Territory.

Background

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Terry Snow was the grandson of Canberra's first general store owner.[1] His parents owned a hotel in Queanbeyan and the young Snow attended Canberra Grammar School, initially as a boarder. He subsequently supported the school through a number of significant philanthropic gifts.[1][2][3] Snow died on 4 August 2024, at the age of 80.[4]

Career

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Commercial development

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Snow was Executive Chairman of the Capital Airport Group,[5] the company which owns the lease for the land which contains Canberra Airport and Brindabella Business Park.[6] Snow's Capital Airport Group acquired the 99-year lease from the Australian Government in 1998 for $65 million.[7] The site includes Fairbairn Business Park, formerly a Royal Australian Air Force base, as well as the Majura Business Park and Majura Park Shopping Centre. Snow was responsible for a $250 million development of a new terminal for Canberra Airport including an “extravagant” international interior design-winning terminal.[8][9] Singapore Airlines and Qatar Airways were the first two international air carriers to Canberra; that arrived at Canberra international Airport in 2017 and 2018 respectively.[10]

Snow developed Brindabella Business Park. One of these landmark buildings is 8 Brindabella Circuit, which was awarded five stars under the Green Star rating system of the Green Building Council of Australia – the first and highest rating awarded in Australia at the time.[11] Snow's attempt to develop land around the Canberra Airport was described by Patrick Troy as controversial. Specific criticisms include that it removes jobs from Civic, diminishes Canberra's town centre, and causes unnecessary congestion on roads originally designed exclusively for airport traffic.[6] The development of Brindabella Business Park attracted international corporates including KPMG, Deloitte and Raytheon[12] as well as the Department of Home Affairs and has been recognised as an emerging aerotropolis[13] that has helped to grow the Canberra workforce.

Snow’s nearby Majura Park Shopping Centre attracted international retailers Costco, Aldi[14] and Ikea,[15] with nationwide retailers Bunnings, Woolworths and Dan Murphy's.[16]

Capital Property Group also developed Constitution Place,[17] a commercial and hospitality complex adjacent to the Canberra Theatre and the Australian Capital Territory Legislative Assembly in Canberra's central business district, which houses a five-storey government office building and a 12-level commercial building that is Canberra’s first WELL-rated building with a hotel and dining spaces.[citation needed]

In 2017, Snow opened Willinga Park,[18] an award-winning, 810-hectare (2,000-acre), equine facility in Bawley Point. Willinga Park was developed to include an equestrian centre with three Olympic-sized dressage arenas, showjumping fields and a campdrafting arena.[19] In 2018, Snow sponsored the largest campdrafting purse in Australian history at the World Championship Gold Buckle Campdraft centre. Pete Comiskey, a Queensland campdrafting rider, won the $100,000 purse after only four rounds lasting four minutes.[19] Willinga Park also includes native gardens and a sculpture walk. It has been referred to as “Jurassic Park with horses.”[20] In June 2018, it was announced that Sculpture on the Clyde, an outdoor art exhibition usually held on the Clyde River in Batemans Bay would be moved to Willinga Park to avoid being cancelled after the Eurobodalla Shire Council and event organisers were unable to come to an agreement on event logistics, insurance and security.[21] During the 2019–20 Australian bushfire season, Willinga Park and its well constructed and defended fire breaks were credited as providing a much-needed fire break that saved Bawley Point from destructive fires.[22]

Residential development

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Snow was also the owner of Capital Property Group and Capital Estate Developments which is responsible for the development of Denman Prospect,[23] a master-planned community in the Molonglo Valley and the first Australian suburb to have a minimum requirement for solar power generation on every home.[24] It is also the first suburb in Australia to commit to the Homes for Homes initiative which donates 0.1 per cent of the sale price of all properties to projects that address the shortage of social and affordable housing in the ACT.[25]

Personal life

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Snow was married to Ginette, and they have four adult children: Stephen, Georgina, Tom and Scarlett.[26] Stephen was managing director of Capital Airport Group and Canberra Airport.[5][27]

Snow was often accompanied by his dogs, which attended meetings with him at his airport offices.[citation needed]

Net worth

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In 2013, Snow was ranked by Forbes as Australia's 39th richest person, with a net worth of US$755 million.[28] By 2019, his wealth was estimated by Forbes Asia at US$1.2 billion.[7]

Year [Financial Review Rich List]] Forbes
Australia's 50 Richest
Rank Net worth (A$) Rank Net worth (US$)
2017[29][30][31] $1.00 billion n/a not listed
2018[32] 52 $1.46 billion Increase
2019[33][7] 43 Increase $1.86 billion Increase 36 Increase $1.20 billion Increase
2020[34] 27 Increase $3.19 billion Increase
2021[35] 42 Decrease $2.53 billion Decrease
2022 29 Increase $3.60 billion Increase
2023[36] 28 Increase $3.90 billion Increase
Legend
Icon Description
Steady Has not changed from the previous year
Increase Has increased from the previous year
Decrease Has decreased from the previous year

Philanthropy

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Along with his brother, George, Snow established the Snow Foundation in 1991.[37] As of 2016, the Foundation held over A$40 million in net assets,[38] with a focus on supporting regional charities and organisations helping needy people.[39][26] In 2016 Snow predicted that in the next 10–15 years, the Snow Foundation endowment will “be over $100 million and that will let us do three times what we're doing now".[38]

In 2005 he published the "Living City" proposal for the redevelopment of Canberra.[40][41] This caused some controversy, especially after the proposal's rebuff by the ACT Government and combined with his provocative assertion that Canberra is a "dead-set boring" city that had been "going backwards since self-government".[42]

In 2017, the Australian National Portrait Gallery commissioned Snow's portrait in recognition of the contribution he has made to the growth of Canberra and his work as a philanthropist.[43] In a media interview, Snow said he was proud to call Canberra home: "I was born in Canberra, that's quite something for someone who is 74. I love the place; it's been a big part of my life, a very happy life. I had a wonderful time growing up in Canberra, raising a family here, developing a business career. Some people say Canberra is an economic backwater but I've proven that wrong. It's a great little city."[44]

The Snow family is a strong supporter of, and has provided in-kind contributors to, the Marriage Equality lobby group Australians for Equality,[45][46] of which his son Tom[47][48] was chair until November 2023.[49]

Snow held a commercial pilot licence for fixed wing aircraft and rotary wing aircraft and had a command instrument rating.[50]

Through a gift of A$8 million in 2013 to Canberra Grammar School,[1] he endowed The Snow Centre for Education in the Asian Century to focus on the advancement of Asian Studies at primary and secondary school levels. The centre was established in 2015 and aims to provide “world-class facilities for the study of Asian languages, history and culture.”[51] Canberra Grammar School also offers The Terry Snow Scholarship for Global Studies for a student who demonstrates excellent academic potential and a commitment to a global outlook who wishes to take the International Baccalaureate Diploma Programme.[2] In October 2019 Snow donated A$20 million to Canberra Grammar School with the plan to rebuild the school's breezeway and library and create a centre for music excellence. The gift was reported as the largest philanthropic gift to an Australian school.[3]

Honours and awards

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Snow was appointed a Member of the Order of Australia (AM) in the 2006 Australia Day Honours for service to the building and construction industry, particularly the redevelopment of the Canberra International Airport precinct, and to the community through support for a range of charitable organisations.[52]

Snow owned a large equestrian property, Willinga Park, near Bawley Point in New South Wales. In December 2019 and January 2020, massive fires swept through the area and Snow's "intricate fire plan [is] credited as part of the reason the nearby coastal town of Bawley Point escaped annihilation in the firestorm that swept through the region."[53]

References

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  1. ^ a b c Gibbs, Sam (1 August 2013). "Garden chat cultivates $8 million for Canberra Grammar". Fundraising & Philanthropy Magazine. Retrieved 29 September 2019.
  2. ^ a b "Year 11 Scholarships". Canberra Grammar School.
  3. ^ a b Groch, Sherryn (14 October 2019). "Canberra Grammar School gifted record-breaking $20 million from businessman". ABC News. Australia. Retrieved 14 October 2019.
  4. ^ Philanthropist and business leader Terry Snow dead at 80
  5. ^ a b "Board of Directors". Canberra Airport Group. Archived from the original on 17 July 2011. Retrieved 23 August 2009.[self-published source?]
  6. ^ a b Troy, Patrick (2 April 2004). "Brindabella Park". Stateline, New South Wales (Interview). Interviewed by Kathleen Hyland. Australia: ABC TV. Retrieved 24 August 2009.
  7. ^ a b c "2019 Australia's 50 Richest". Forbes Asia. January 2019. Retrieved 28 September 2019.
  8. ^ Sibthorpe, Clare (16 September 2016). "Canberra Airport opens 'extravagant' international terminal ahead of Singapore Airlines flights". Traveller.
  9. ^ "Canberra Airport wins interior design award". The Canberra Times. 15 June 2018.
  10. ^ Groch, Sherryn (12 February 2018). "First Qatar Airways flight from Doha lands at Canberra Airport". The Canberra Times.
  11. ^ "Environmental Commitment". Airport Business Parks.[self-published source?]
  12. ^ "Tenant Directory". Airport Business Parks.[self-published source?]
  13. ^ Thistleton, John (17 March 2014). "Canberra Airport's workforce predicted to take off". The Canberra Times.
  14. ^ Nguyen, Han (18 April 2018). "Bunnings Warehouse Canberra Airport to open next month". The Canberra Times.
  15. ^ Colley, Clare (19 January 2015). "IKEA helps build case for international flights for Canberra Airport". The Canberra Times.
  16. ^ Nguyen, Han (23 May 2018). "Canberra Airport's Bunnings Warehouse opens its doors". The Canberra Times.
  17. ^ "Constitution Place Canberra". constitutionplace.com.au.[self-published source?]
  18. ^ "Facilities Archive".[self-published source?]
  19. ^ a b Hardy, Karen (2 June 2018). "Terry Snow's Willinga Park a 'game changer' for campdrafting". The Canberra Times.
  20. ^ "Why Terry Snow, billionaire and yachtie, put $100 million into a horse park". Australian Financial Review. 23 May 2017.
  21. ^ Lockley, Kate (21 June 2018). "Sculpture on Clyde bolts to Bawley Point". Bay Post-Moruya Examiner.
  22. ^ McGuire, Amelia (8 January 2020). "The billionaire whose plan helped save a town from bushfire". Sydney Morning Herald.
  23. ^ "Denman Prospect | Canberra's Most Remarkable New Suburb | Land For Sale". denmanprospect.com.au.
  24. ^ "Fact sheet" (PDF). denmanprospect.com.au. 2017. Retrieved 29 September 2019.
  25. ^ "The Big Issue - Denman Prospect makes first donation to Homes for Homes - Homes for Homes". www.homesforhomes.com.au. Archived from the original on 15 March 2018. Retrieved 25 January 2022.
  26. ^ a b Byron, Georgina (October 2008). Listening to Fresh Voices: new foundations, younger generations (PDF) (Speech). Philanthropy Australia conference. Philanthropy Australia. Archived from the original (PDF) on 14 October 2009. Retrieved 24 August 2009.
  27. ^ "Stephen flies high on enthusiasm". Canberra City News. 6–12 August 2009. p. 6. Retrieved 24 August 2009.
  28. ^ "Forbes Profile Terry Snow". Forbes. 2013.
  29. ^ Stensholt, John, ed. (25 May 2017). "Financial Review Rich List 2017". Australian Financial Review. Retrieved 8 June 2017.
  30. ^ Mayne, Stephen (26 May 2017). "Mayne's take: The top 25 Australian billionaires, as claimed by Fairfax". Crikey. Private Media. Retrieved 10 October 2019.
  31. ^ "Australia's Richest 2017: Country's Wealthiest Continue Mining For Dollars". Forbes Asia. 1 November 2017. Retrieved 28 September 2019.
  32. ^ Stensholt, John, ed. (25 May 2018). "2018 AFR Rich List: Who are Australia's richest people?". Australian Financial Review. Retrieved 26 May 2018.
  33. ^ Bailey, Michael (30 May 2019). "Australia's 200 richest people revealed". Australian Financial Review. Nine Publishing. Retrieved 31 May 2019.
  34. ^ Bailey, Michael; Sprague, Julie-anne (30 October 2020). "The full list: Australia's wealthiest 200 revealed". Australian Financial Review. Nine Publishing. Retrieved 31 October 2020.
  35. ^ Bailey, Michael; Sprague, Julie-anne (27 May 2021). "The 200 richest people in Australia revealed". Australian Financial Review. Retrieved 28 May 2021.
  36. ^ Bailey, Michael; Sprague, Julie-anne (26 May 2023). "The 200 richest people in Australia revealed". Australian Financial Review. Retrieved 6 June 2023.
  37. ^ "The Snow Foundation Annual Report 2018". The Snow Foundation. Retrieved 16 April 2019.
  38. ^ a b Doherty, Megan (13 October 2016). "The Snow Foundation celebrates 25 years of helping those in need". The Canberra Times.
  39. ^ Snow Foundation. Retrieved 23 August 2009
  40. ^ High Powered Members appointed to Canberra Central Taskforce, ACT Government, 2005-05-05. Retrieved 24 August 2009
  41. ^ Minutes of Proceedings, ACT Legislative Assembly, 2005-05-04. Retrieved 24 August 2009
  42. ^ Govt fights back over 'boring' claims, The Canberra Times, 2005-07-29. Retrieved 24 August 2009
  43. ^ "Terry Snow, National Portrait Gallery". www.portrait.gov.au.
  44. ^ Hardy, Karen (1 December 2017). "Terry Snow: I've loved building a life in this 'great little city'". The Canberra Times.
  45. ^ Taylor, Josh (2 August 2016). "Snowed under: Australian Marriage Equality offshoot focuses on plebiscite". Crikey. Retrieved 1 April 2017.
  46. ^ Massola, James (4 February 2017). "Government MPs working to bring same-sex marriage policy to a head over next fortnight". The Sydney Morning Herald. Retrieved 1 April 2017.
  47. ^ Thistleton, John (14 May 2012). "Doting dads get in the frame". The Canberra Times. Retrieved 1 April 2017.
  48. ^ "Dad, Daddy, Sybilla and Angus". The Canberra Times. 30 June 2012. Retrieved 29 September 2019.
  49. ^ emily.mulligan@equalityaustralia.org.au (29 November 2023). "Equality Australia farewells accomplished board chair Tom Snow". Equality Australia. Retrieved 4 August 2024.
  50. ^ "Board of Directors". Canberra Airport. Archived from the original on 17 July 2011.
  51. ^ "The Snow Centre for Education in the Asian Century". Canberra Grammar School.
  52. ^ "Member of the Order of Australia (AM) entry for SNOW, Terrence Mark". Australian Honours Database. Canberra, Australia: Department of the Prime Minister and Cabinet. 26 January 2006. Retrieved 29 September 2019. For service to the building and construction industry, particularly the redevelopment of the Canberra International Airport precinct, and to the community through support for a range of charitable organisations.
  53. ^ McGuire, Amelia (8 January 2020). "The billionaire whose plan helped save a town from bushfire". The Sydney Morning Herald. Retrieved 4 August 2024.
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