Jack Cowin

Cowin was born on 13 July 1942[6] in Windsor, Ontario, Canada. His father, Stanley J. Cowin, was posted to Australia briefly by Ford and later encouraged his son to consider emigrating there.[3] Cowin graduated with a Bachelor of Arts from the University of Western Ontario in 1964.[6][7]

Cowin became an insurance salesman with London Life for four years in Toronto before deciding to visit Australia to assess some business opportunities. Seeing long queues at a Chinese takeaway restaurant while vacationing in Sydney, he became convinced that fast food would sell well. Aged 26 years, Cowin returned to Australia to evaluate expanding Kentucky Fried Chicken (KFC) into the market that at that stage had limited fast food options.[6]

He bought the right to open ten KFC franchises in Western Australia, raised CA$10,000 each from thirty Canadians to launch the business in December 1969,[4] having moved with his wife and young child. As of March 2006, those initial investors had an investment worth approximately A$8.9 million. After opening eight KFC outlets, he bought the rights to Burger King. Cowin later discovered someone else had the rights to the Burger King trademark in Australia, so Cowin instead called the outlets Hungry Jack's. Many years later he had a falling out with Burger King over the name and other issues related to their franchise agreement which was eventually resolved in his favour. He talks about this in an interview[8] for The Billion Dollar Secret book to which Cowin contributed.[9]

In 1999 Cowin took action against Burger King Corp. in the Supreme Court of New South Wales. Cowin alleged that Burger King attempted to terminate Hungry Jack's contract on the grounds that the Australian franchisee was not opening new units as fast as was required under the agreement. In response, Cowin's Hungry Jack's sued Burger King for breach of contract, alleging that the chain had no legal grounds for terminating the contract. The NSW Supreme Court ordered Burger King Corp. to pay A$45 million to Hungry Jack's Ltd. for lost profits from delayed restaurant openings, inability to sell third-party franchises, and cannibalisation by the chain's corporate-owned locations. Burger King appealed the matter to the New South Wales Court of Appeal, and on 21 June 2001, the appeal was dismissed and Burger King Corp. was ordered to pay Hungry Jack's A$71 million in damages.[10]

The business Competitive Foods Australia continues to be privately held by his family, with an estimated value of $350 million. In 2017, Cowan advocated for the elimination of weekend worker penalty rates within Australia, regarding them as a "thing of the past".[11]

Cowin also owns Consolidated Foods, a meat processing business that exports throughout the world.[12] Cowin sold a substantial investment in Stanbroke Pastoral Company, one of the country's biggest cattle station operators. Cowin is also an investor in the Lone Star Texas Grill restaurant chain in Canada.[6] Cowin in a major shareholder in RCX (Rail Crew Express), a US transportation company based in Kansas that operates 1,000 vehicles as a crew hauling service to the major railway operators.[6]

Cowin has served as a non-executive director of the TEN Television Network, Chandler MacLeod, Sydney Olympic Park Authority, and Fairfax Media.[7] He is the Chairman and largest shareholder of Domino’s Pizza Enterprises. He also is a Director and 40% shareholder of BridgeClimb Sydney - operator of a major Sydney tourist attraction.[6]

Cowin lives in Sydney with his wife, Sharon,[7] with whom he has had four children.[13]

In 2000, his alma mater, the University of Western Ontario, conferred Cowin with the award of Doctor of Law (honoris causa). [6] Cowin served as the 22nd Chancellor of the University from September 2015[14] until May 2019.[15] He gifted funds to the University to pay for stands for the new football field, that was named in honour of his father, Stanley J. Cowin.

Cowin is an active member of the World Presidents Organization.

Net worth

Cowin was listed on the Australian BRW Rich 200 list at number 70 in 2008,[16] and 79 in 2009, and had an estimated net worth of A$486 million and, in 2010, an estimated net worth of A$538 million.[17] Cowin was ascribed a net worth of A$1.8 billion (24th) in the 2016 BRW Rich 200.[18] In 2019 the Financial Review Rich List, the successor of the BRW Rich 200, assessed Cowin's net worth at A$2.79 billion; and was ranked as the 25th richest Australian.[19] Meanwhile, Forbes Asia assessed Cowin's net worth as US$1.7 billion in 2019; and he was ranked as the 23rd richest Australian by net worth.[2]

Year	Financial Review Rich List		Forbes Australia's 50 Richest
	Rank	Net worth (A$)	Rank	Net worth (US$)
2015[20]			29	$1.00 billion
2016[18][21]	24	$1.80 billion	18	$1.50 billion
2017[22][23]	20	$2.38 billion	22
2018[24][25]	24	$2.41 billion
2019[19][2]	25	$2.79 billion	23	$1.70 billion
2020[1]	17	$4.51 billion

Legend
Icon	Description
	Has not changed from the previous year
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• Pizza Hut

• Australian KFC Website
• Franchise Council of Australia Hall of Fame