If more business leaders were to emulate Terry Snow's ability to practice entrepreneurship and philanthropy at the same time they could could give capitalism a good name. Mr Snow, a born and bred Canberran, is stepping down from the multi-billion business he created over more than half a century.
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He is also handing over the reins of the Snow Foundation, the family-operated charity that has donated more than $50 million to a wide range of causes since 1991.
Mr Snow has also practised philanthropy on a personal level, arousing the ire of the ACT branch of the Australian Education Union in 2019 by giving his alma mater, Canberra Grammar, $20 million. He also funded 15 scholarships for First Nations students.
The ACT AEU's then secretary demanded that public funding to the school be cut, presumably by an equivalent amount. The ACT government chose not to comply.
The 1336-seat hall, which has world-leading acoustics, has since hosted numerous concerts by leading musicians from around the globe.
This is far from being the most significant contribution made by Mr Snow or one of his family's charitable foundation however.
Last October The Snow Medical Research Foundation announced it was partnering with the Walter and Eliza Hall Institute to invest $100 million into a centre for immune health in conjunction with the Royal Melbourne Hospital.
The centre will undertake ground breaking research into debilitating autoimmune disorders including lupus and rheumatoid arthritis. Its work has the potential to touch millions given one in 10 Australians has an autoimmune disorder.
The SMRF also funds individual research fellowships of up to $8 million each.
While space only permits a relatively cursory survey of the Snow family's philanthropic legacy Mr Snow's impact on Canberra's built infrastructure is impossible to miss.
The exponential growth in the family's fortunes can be traced back to 1998 when the Capital Airport Group acquired a 99-year lease on the Canberra Airport and surrounding land from the federal government for $65 million.
Over the subsequent decades Capital developed what Mr Snow has described as "unquestionably the best airport terminal in the country".
The company also developed the Majura Park Shopping Centre - which brought Costco to Canberra - and the Brindabella Business Park.
It wasn't always smooth sailing however with Capital often at odds with the ACT government over development priorities.
After Mr Snow's "Living City" vision for the redevelopment of Canberra was rebuffed by the government in 2005 he responded by saying this was a "dead boring city" that had been "going backwards since self-government".
Developments around the airport outstripped the government's efforts to build the necessary road infrastructure. For many years the drive to and past the airport was a challenging experience that tested the patience of many to the limit.
That said, early fears Majura Park and Brindabella could rob established city centres of commercial oxygen proved unfounded. The ACT has experienced unprecedented growth for almost two decades.
Even though Mr Snow is stepping down after a period of ill health to spend more time with his family, the business and the charities he founded are in the hands of an experienced team of colleagues and family members.
Through them, Terry Snow's contribution to this city and worthy causes is set to continue long into the future.
