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

Terry Snow, a prominent property developer and philanthropist from Canberra, passed away at the age of 80. His life story began in Queanbeyan, where he was born as the grandson of Canberra’s first general store owner. Snow’s journey in commercial property development propelled him to become one of Australia’s wealthiest individuals.

As the driving force behind Capital Property Group, Snow spearheaded numerous commercial projects in the national capital, including the transformative acquisition and development of Canberra Airport. He purchased what he described as “a humble tin shed in a paddock” from the federal government in 1998 for $65 million and developed it into a modern international airport and the surrounding Majura precinct.

In 2015, Snow and his family embarked on developing the new suburb of Denman Prospect in Canberra’s west. The Australian Financial Review placed him as the 30th richest person in the country, with an estimated fortune of $4.09 billion.

Snow’s philanthropic efforts were equally notable, with significant donations towards homelessness and medical research. Last year, his Snow Medical Research Foundation announced a $100 million investment to establish a leading immunology research center at the Royal Melbourne Hospital.

In May 2024, Snow declared his decision to step down as the Executive Chairman of Canberra Airport and Capital Property Group. The family reported his death on Sunday evening, attributing it to natural causes.

Snow is survived by his wife Ginette, children Scarlett Gaffey, Tom Snow, Georgina Byron, and Stephen Byron, and 14 grandchildren. His family remains deeply involved in his business and philanthropic ventures, with Stephen Byron continuing as CEO of Canberra Airport, Tom Snow as chair of the airport and Snow Medical Research Foundation, Georgina Byron as CEO of the Snow Foundation, and Scarlett Gaffey as a director.

In a statement, the family expressed their sorrow, noting Snow’s loving nature and his profound impact on the community. ACT Chief Minister Andrew Barr conveyed his condolences on behalf of the ACT government, emphasizing Snow’s lasting legacy in Canberra.

Genevieve Jacobs, CEO of Hands Across Canberra, highlighted 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. Rae remarked on Snow’s softer side in his later years, reflecting on his multifaceted life and significant contributions.

Snow’s influence and generosity will be remembered as foundational to Canberra’s growth and community spirit.

Have you read?
Fastest tanks ever built by Russia.
Impact of Titles on Your Executive Career – Negotiating Job Titles and more!
3 Ways Technology Empowers the Hybrid Work Revolution.
5 Effective Strategies to Reduce Criticism and Captivate Your Essay Readers.
CerebrumIQ Reviews the Average IQ for Managers and Executives.