David Teoh
Born1955 (age 68–69)
Malaysia
NationalityAustralian
OccupationExecutive Chairman & CEO
Known forFounder, TPG and Simba Telecom
SpouseVicky Teoh
Children4

David Siang Hai Teoh is an Australian businessman. Until March 26, 2021, he was the executive chairman of TPG, a company he founded with his Taiwanese wife Vicky in 1992 after emigrating from Malaysia in 1986.[1] He is also the founder and executive chairman of Tuas Limited, who owns Simba Telecom, a telecommunications company in Singapore.[2]

Biography

TPG started off as a computer retail company, but several acquisitions including the purchase of a mobile spectrum licence, have contributed to its success as a major internet service provider.[3]

In August 2018, Teoh announced TPG was in discussions with Vodafone Hutchinson Australia about a proposed $13 billion merger.[4] Teoh's only comment about the proposed merger was the pricing would be “very aggressive” and that it would bring value to the customer.[5] It was blocked by the Australian Competition & Consumer Commission on the grounds that it would lessen consumer choice in both the internet and mobile phone markets.[6] In early 2020 Vodafone and TPG were granted permission by the Federal Court to merge, paving the way for the stalled $15 billion deal to finally proceed.[7]

Personal life

Reclusive, Teoh has only been photographed in public twice. A photographer staked out his house for three days in 2015,[6] and in 2019 the proposed merger with Vodafone obliged him to attend court.

His four sons, Shane, Jack, John and Bob, have launched more than a dozen startup companies dealing in clothing, furniture, technology, and eyeglasses. In 2016 it was reported that his wife, Vicky, had substantial investments, including Vita Life Sciences Ltd, a pharmaceutical and healthcare company.[8]

Net worth

According to Forbes magazine, in 2019 Teoh was the 25th-richest person in Australia, estimated to have a net worth of approximately US$1.62 billion.[9] As of May 2023, the net worth of Teoh and his wife was assessed in the Australian Financial Review Rich List at A$1.70 billion.[10]

Year Financial Review
Rich List		 Forbes
Australia's 50 Richest
Rank Net worth (A$) Rank Net worth (US$)
2013[11] 29 Increase $0.91 billion Increase
2014[12] 17 Increase $1.50 billion Increase
2015[13] 17 Steady $1.60 billion Increase
2016[14] 9 Increase $1.95 billion Increase
2017[15][16][17] $1.91 billion 29 Decrease
2018[18] 38 Increase $1.76 billion Decrease
2019[19][9] 38 Steady $2.03 billion Increase 25 Increase $1.62 billion Increase
2020[20] 32 Increase $2.54 billion Increase
2021[21] 40 Decrease $2.55 billion Increase
2022 43 Decrease $2.60 billion Increase
2023[10] 82 Decrease $1.70 billion Decrease
Legend
Icon Description
Steady Has not changed from the previous year
Increase Has increased from the previous year
Decrease Has decreased from the previous year

References

  1. ↑ "David Teoh resigns as TPG chairman". 25 March 2021.
  2. ↑ "TUAS - Building Better Connections".
  3. ↑ "David Teoh". Forbes. Retrieved 11 December 2018.
  4. ↑ Duke, Jennifer (24 August 2018). "Did TPG's David Teoh just outsmart the telco industry?". Sydney Morning Herald. Retrieved 17 December 2018.
  5. ↑ Reichert, Corinne. "TPG-Vodafone will be 'very aggressive': David Teoh". ZDNet. Retrieved 17 December 2018.
  6. 1 2 Butler, Ben (11 September 2019). "Australia's secretive billionaire David Teoh steps into media spotlight". The Guardian. Retrieved 12 September 2019.
  7. ↑ Crozier, Ry (13 February 2020). "Vodafone and TPG $15bn merger gets court approval". IT News.
  8. ↑ Stensholt, John (26 May 2016). "Rich List 2016: Gina Rinehart richest woman, but wealth takes a slide". Australian Financial Review. Retrieved 12 August 2016.
  9. 1 2 "2019 Australia's 50 Richest". Forbes Asia. January 2019. Retrieved 28 September 2019.
  10. 1 2 Bailey, Michael; Sprague, Julie-anne (26 May 2023). "The 200 richest people in Australia revealed". Australian Financial Review. Retrieved 6 June 2023.
  11. ↑ "2013 Australia's 50 Richest". Forbes Asia. 1 February 2013. Retrieved 23 May 2013.
  12. ↑ "2014 Australia's 50 Richest". Forbes Asia. January 2014. Retrieved 30 June 2014.
  13. ↑ "2015 Australia's 50 Richest". Forbes Asia. March 2015. Retrieved 10 June 2015.
  14. ↑ "2016 Australia's 50 Richest". Forbes. January 2016. Archived from the original on 6 April 2013. Retrieved 9 June 2016.
  15. ↑ Stensholt, John, ed. (25 May 2017). "Financial Review Rich List 2017". Australian Financial Review. Retrieved 8 June 2017.
  16. ↑ Mayne, Stephen (26 May 2017). "Mayne's take: The top 25 Australian billionaires, as claimed by Fairfax". Crikey. Private Media. Retrieved 10 October 2019.
  17. ↑ "Australia's Richest 2017: Country's Wealthiest Continue Mining For Dollars". Forbes Asia. 1 November 2017. Retrieved 28 September 2019.
  18. ↑ Stensholt, John, ed. (25 May 2018). "2018 AFR Rich List: Who are Australia's richest people?". Australian Financial Review. Retrieved 26 May 2018.
  19. ↑ Bailey, Michael (30 May 2019). "Australia's 200 richest people revealed". Australian Financial Review. Nine Publishing. Retrieved 31 May 2019.
  20. ↑ Bailey, Michael; Sprague, Julie-anne (30 October 2020). "The full list: Australia's wealthiest 200 revealed". Australian Financial Review. Nine Publishing. Retrieved 31 October 2020.
  21. ↑ Bailey, Michael; Sprague, Julie-anne (27 May 2021). "The 200 richest people in Australia revealed". Australian Financial Review. Retrieved 28 May 2021.


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