David Teoh

David Siang Hai Teoh is an Australian businessman. He is the executive chairman of TPG, a company he founded with his Taiwanese wife Vicky in 1992 after emigrating from Malaysia in 1986.

David Teoh
Born1955 (age 65–66)
Malaysia
NationalityAustralian
OccupationExecutive Chairman & CEO
Known forFounder, TPG
Net worth
Spouse(s)Vicky 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 and Consumer Commission on the grounds that it would lessen consumer choice in both the internet and mobile phone markets.[6] But 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 be net worth approximately US$1.62 billion.[2] In The Australian Financial Review 2020 Rich List Teoh and his wife had an assessed net worth of A$2.54 billion.[1]

Year Financial Review
Rich List		 Forbes
Australia's 50 Richest
Rank Net worth (A$) Rank Net worth (US$)
2013[9] 29 $0.91 billion
2014[10] 17 $1.50 billion
2015[11] 17 $1.60 billion
2016[12] 9 $1.95 billion
2017[13][14][15] $1.91 billion 29
2018[16] 38 $1.76 million
2019[17][2] 38 $2.03 billion 25 $1.62 billion
2020[1] 32 $2.54 billion
Legend
Icon Description
Has not changed from the previous year
Has increased from the previous year
Has decreased from the previous year

References
  1. Bailey, Michael; Sprague, Julie-anne (30 October 2020). "The full list: Australia's wealthiest 200 revealed". The Australian Financial Review. Nine Publishing. Retrieved 31 October 2020.
  2. "2019 Australia's 50 Richest". Forbes Asia. January 2019. Retrieved 28 September 2019.
  3. "David Teoh". Forbes. Retrieved 11 December 2018.
  4. Duke, Jennifer (24 August 2018). "Did TPG's David Teoh just outsmart the telco industry?". The 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. "2013 Australia's 50 Richest". Forbes Asia. 1 February 2013. Retrieved 23 May 2013.
  10. "2014 Australia's 50 Richest". Forbes Asia. January 2014. Retrieved 30 June 2014.
  11. "2015 Australia's 50 Richest". Forbes Asia. March 2015. Retrieved 10 June 2015.
  12. "2016 Australia's 50 Richest". Forbes Asia. January 2016. Retrieved 9 June 2016.
  13. Stensholt, John, ed. (25 May 2017). "Financial Review Rich List 2017". The Australian Financial Review. Retrieved 8 June 2017.
  14. Mayne, Stephen (26 May 2017). "Mayne's take: The top 25 Australian billionaires, as claimed by Fairfax". Crikey. Private Media. Retrieved 10 October 2019.
  15. "Australia's Richest 2017: Country's Wealthiest Continue Mining For Dollars". Forbes Asia. 1 November 2017. Retrieved 28 September 2019.
  16. Stensholt, John, ed. (25 May 2018). "2018 AFR Rich List: Who are Australia's richest people?". The Australian Financial Review. Retrieved 26 May 2018.
  17. Bailey, Michael (30 May 2019). "Australia's 200 richest people revealed". The Australian Financial Review. Nine Publishing. Retrieved 31 May 2019.


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