Terry Snow, the Billionaire Behind Capital Property Group in Canberra, Passes Away

A Visionary Developer and Philanthropist Leaves a Lasting Legacy in Canberra

Terry Snow, a towering figure in Australian property development and philanthropy, has passed away at the age of 80. Born in Queanbeyan, Snow’s life was marked by his remarkable journey from humble beginnings to becoming one of Australia’s wealthiest individuals and most influential community figures.

Snow’s career was defined by his transformative work with Capital Property Group, a company he founded and led with distinction. His visionary approach to commercial property development included the acquisition and redevelopment of Canberra Airport. What began as a modest purchase of “a humble tin shed in a paddock” for $65 million in 1998 evolved into a modern international airport and a thriving Majura precinct, a testament to Snow’s foresight and ambition.

In addition to his landmark projects, Snow’s influence extended to the development of Denman Prospect, a new suburb in Canberra’s west, which began in 2015. His achievements earned him a spot on the Australian Financial Review’s list of the country’s richest individuals, with an estimated fortune of $4.09 billion.

Snow’s commitment to philanthropy was as significant as his business success. His Snow Medical Research Foundation made headlines in 2023 with a $100 million investment to establish a leading immunology research center at the Royal Melbourne Hospital. His generosity also extended to various causes addressing homelessness and other critical issues.

Snow announced his decision to step down as Executive Chairman of Canberra Airport and Capital Property Group in May 2024, prior to his passing, which was attributed to natural causes. His family, who remain deeply involved in his enterprises, includes his wife Ginette, and children Scarlett Gaffey, Tom Snow, Georgina Byron, and Stephen Byron, along with 14 grandchildren. Each family member continues to uphold Snow’s legacy in various capacities, including leadership roles at Canberra Airport, the Snow Medical Research Foundation, and the Snow Foundation.

The ACT Chief Minister Andrew Barr expressed condolences on behalf of the ACT government, highlighting Snow’s lasting impact on Canberra. Genevieve Jacobs, CEO of Hands Across Canberra, praised Snow’s unwavering dedication to his hometown, while artist Jude Rae reminisced about painting Snow with his beloved dog China for the National Portrait Gallery in 2017, noting Snow’s softer side and multifaceted life.

Terry Snow’s contributions to Canberra and beyond will be remembered as foundational to the city’s growth and community spirit. His legacy of innovation, leadership, and philanthropy leaves an indelible mark on the fabric of Australian society.

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