David Teoh
Australian businessman (born 1955)
From Wikipedia, the free encyclopedia
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 | |
|---|---|
| Born | 1955 (age 70–71) |
| Occupations | Executive Chairman & CEO |
| Known for | Founder, TPG and Simba Telecom |
| Spouse | Vicky Teoh |
| Children | 4 |
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 that 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 2025[update], the net worth of Teoh and his wife was assessed in the Australian Financial Review Rich List at A$2.78 billion.[10]
| Year | Financial Review Rich List |
Forbes Australia's 50 Richest | ||
|---|---|---|---|---|
| Rank | Net worth (A$) | Rank | Net worth (US$) | |
| 2013[11] | 29  |
$0.91 billion | ||
| 2014[12] | 17 |
$1.50 billion | ||
| 2015[13] | 17  |
$1.60 billion | ||
| 2016[14] | 9 |
$1.95 billion | ||
| 2017[15][16][17] | $1.91 billion | 29  |
||
| 2018[18] | 38 |
$1.76 billion |
||
| 2019[19][9] | 38 |
$2.03 billion |
25 |
$1.62 billion |
| 2020[20] | 32 |
$2.54 billion |
||
| 2021[21] | 40 |
$2.55 billion |
||
| 2022 | 43 |
$2.60 billion |
||
| 2023[22] | 82 |
$1.70 billion |
||
| 2024[23] | 56 |
$2.55 billion |
||
| 2025[10] | 56 |
$2.78 billion |
||
| Legend | |
|---|---|
| Icon | Description |
|
Has not changed from the previous year |
|
Has increased from the previous year |
|
Has decreased from the previous year |