Terry Snow
Terrence Mark Snow | |
|---|---|
| Born | 1943 |
| Died | 3 August 2024 Canberra, Australian Capital Territory, Australia |
| Occupation(s) | Entrepreneur, accountant, philanthropist, businessman |
| Known for | Executive Chairman of Capital Airport Group; developer of Canberra Airport and Brindabella Business Park; founder of the Snow Foundation |
| Notable work | Development of Canberra Airport terminal upgrade; Willinga Park equestrian facility; Denman Prospect suburb; Snow Foundation philanthropy |
Terrence Mark Snow (1943 – 3 August 2024) was a prominent Australian entrepreneur, accountant, philanthropist, and businessman operating out of Canberra, Australian Capital Territory.
Background
Terry Snow descended from the family that owned Canberra’s inaugural general store. His parents managed a hotel in Queanbeyan, and he was educated as a boarder at Canberra Grammar School, an institution he later supported generously through philanthropy. Snow passed away on 3 August 2024 at the age of 80.
Commercial development
Snow served as Executive Chairman of Capital Airport Group, which holds the lease for key properties including Canberra Airport and Brindabella Business Park. In 1998, his company secured a 99-year lease from the Australian Government for $65 million. The portfolio also comprises Fairbairn Business Park—a former RAAF facility—Majura Business Park, and Majura Park Shopping Centre. Under his leadership, Canberra Airport’s terminal underwent a $250 million upgrade featuring internationally recognized interior design. International carriers such as Singapore Airlines and Qatar Airways commenced flights to Canberra Airport in 2017 and 2018 respectively.
Brindabella Business Park, developed by Snow, includes 8 Brindabella Circuit—the first Australian building to achieve a five-star rating under the Green Star certification. Although some critics argued that this development drew employment away from Canberra’s central business district and increased traffic congestion, it attracted significant tenants including KPMG, Deloitte, Raytheon, and the Department of Home Affairs (Australia), playing a pivotal role in Canberra’s growth as an aerotropolis.
Adjacent to this, Majura Park Shopping Centre brought in global retailers like Costco, Aldi, and Ikea, alongside prominent national chains such as Bunnings, Woolworths, and Dan Murphy's.
Capital Property Group also undertook the development of Constitution Place in Canberra’s CBD—a mixed-use commercial and hospitality precinct featuring a five-storey government office building and a 12-level commercial tower. This site was notable as Canberra’s first WELL-certified building, inclusive of hotel accommodations and dining venues.
In 2017, Snow inaugurated Willinga Park, an expansive 2000-acre equestrian facility located in Bawley Point. The venue boasts Olympic-standard dressage arenas, showjumping fields, and a campdrafting arena, hosting Australia’s largest campdrafting prize money event in 2018. Willinga Park is distinguished by its native gardens and a sculpture walk often described as “Jurassic Park with horses.” After relocating from Batemans Bay due to logistical challenges, Sculpture on the Clyde found a new home here in 2018. During the 2019–20 bushfires, firebreaks at Willinga Park played a crucial role in protecting Bawley Point from severe damage.
Residential development
Snow controlled Capital Property Group and Capital Estate Developments, responsible for creating ,[1] a master-planned suburb within the Molonglo Valley. This community was pioneering in Australia as the first to require solar power installation on every residence.[2] Additionally, Denman Prospect committed to the Homes for Homes program by allocating 0.1% of property sale proceeds towards affordable and social housing initiatives across the ACT.[3]
Personal life
Snow was married to Ginette and they had four grown children: Stephen, Georgina, Tom, and Scarlett. Stephen held the position of managing director at both Capital Airport Group and Canberra Airport. It was common for Snow to bring his dogs along to meetings held in his airport offices.
Net worth
In 2013, Forbes listed Snow as the 39th wealthiest individual in Australia, with an estimated net worth of 755 million. By 2019, Forbes Asia valued his fortune at billion. Following his passing in 2024, approximately half of his 4.10 billion estate was inherited by his wife Ginette, while the remainder was allocated to a charitable trust.
| Year | Financial Review Rich List |
Forbes Australia's 50 Richest | ||
|---|---|---|---|---|
| Rank | Net worth (A$) | Rank | Net worth (US$) | |
| 2017 | $1.00 billion | n/a | not listed | |
| 2018 | Template:Nts | $1.46 billion Template:Gain | ||
| 2019 | Template:Nts Template:Gain | $1.86 billion Template:Gain | Template:Nts Template:Gain | $1.20 billion Template:Gain |
| 2020 | Template:Nts Template:Gain | $3.19 billion Template:Gain | ||
| 2021 | Template:Nts Decrease | $2.53 billion Decrease | ||
| 2022 | Template:Nts Template:Up | $3.60 billion Template:Up | ||
| 2023 | Template:Nts Template:Up | $3.90 billion Template:Up | ||
| 2024 | $4.10 billion Template:Up | |||
| Legend | |
|---|---|
| Icon | Description |
| Steady | No change from previous year |
| Increase | Increased from previous year |
| Template:Loss | Decreased from previous year |
Philanthropy
Together with his brother George, Snow established the Snow Foundation in 1991. By 2016, the Foundation's net assets surpassed 40 million, concentrating on assisting regional charities and organizations that provide aid to vulnerable populations. Snow anticipated that within 10 to 15 years, the endowment would grow beyond $100 million, allowing the Foundation to significantly increase its philanthropic reach.
In 2005, Snow introduced the "Living City" redevelopment initiative for Canberra, which generated debate following its dismissal by the ACT Government and his forthright description of Canberra as a "dead-set boring" city.
Acknowledging his impact on Canberra’s development and charitable efforts, the National Portrait Gallery (Australia) commissioned Snow’s portrait in 2017. He conveyed pride in both his Canberra heritage and business achievements despite widespread views of the city as economically stagnant.
The Snow family actively backs the Marriage Equality advocacy organization Australians for Equality, contributing resources in kind. His son Tom served as chairperson of the group until November 2023.
Snow possessed commercial pilot certifications for both fixed-wing and rotary-wing aircraft, including qualifications for instrument flying.
In 2013, he contributed 8 million to Canberra Grammar School to found The Snow Centre for Education in the Asian Century, which promotes studies in Asian languages and cultures. The institution also provides The Terry Snow Scholarship for Global Studies to students enrolled in the International Baccalaureate Diploma. In October 2019, Snow made a further donation of 20 million aimed at renovating school infrastructure and establishing a music excellence center—marking the largest philanthropic gift reported to an Australian educational institution.
Honours and awards
Snow was honored as a Member of the Order of Australia (AM) during the 2006 Australia Day Honours, recognizing his significant contributions to the construction sector, particularly the redevelopment of Canberra International Airport, alongside his support for numerous charitable causes.
He owned an extensive equestrian estate named Willinga Park near Bawley Point in New South Wales. Throughout the 2019–2020 bushfire season, Snow’s comprehensive fire management strategy was credited with safeguarding the nearby community of Bawley Point from severe damage.
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