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
Born	1955 (age 69–70) Malaysia
Nationality	Australian
Occupation	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 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^[update], 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	$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[10]	82	$1.70 billion

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