David Teoh

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]

David Teoh
Born1955 (age 67–68)
Malaysia
NationalityAustralian
OccupationExecutive Chairman & CEO
Known forFounder, TPG
SpouseVicky Teoh
Children4

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. 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. "2019 Australia's 50 Richest". Forbes Asia. January 2019. Retrieved 28 September 2019.
  10. 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.


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.