David Teoh
{{short description|Australian businessman (born 1955)}}
{{Use dmy dates|date=July 2019}}
{{Infobox person
| name = David Teoh
| image =
| caption =
| birth_name =
| birth_date = {{birth year and age|1955}}
| birth_place = Malaysia
| death_date =
| death_place =
| other_names =
| known_for = Founder, TPG and Simba Telecom
| occupation = Executive Chairman & CEO
| education =
| alma_mater =
| nationality = Australian
| father =
| mother =
| spouse = Vicky Teoh
| children = 4
| relatives =
}}
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.{{cite web| url = https://www.smh.com.au/business/companies/tpg-founder-david-teoh-resigns-as-chairman-20210326-p57e8w.html| title = David Teoh resigns as TPG chairman| date = 25 March 2021}} He is also the founder and executive chairman of Tuas Limited, who owns Simba Telecom, a telecommunications company in Singapore.{{cite web | url=https://tuas.com.au/about.html | title=TUAS - Building Better Connections }}
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.{{Cite web|url=https://www.forbes.com/profile/david-teoh/|title=David Teoh|website=Forbes|language=en|access-date=2018-12-11}}
In August 2018, Teoh announced TPG was in discussions with Vodafone Hutchinson Australia about a proposed $13 billion merger.{{Cite news|url=https://www.smh.com.au/business/companies/did-tpg-s-david-teoh-just-outsmart-the-telco-industry-20180824-p4zzk0.html|title=Did TPG's David Teoh just outsmart the telco industry?|last=Duke|first=Jennifer|date=2018-08-24|website=Sydney Morning Herald|language=en|access-date=2018-12-17}} 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.{{Cite news|url=https://www.zdnet.com/article/tpg-vodafone-will-be-very-aggressive-david-teoh/|title=TPG-Vodafone will be 'very aggressive': David Teoh|last=Reichert|first=Corinne|website=ZDNet|language=en|access-date=2018-12-17}} 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.{{Cite web|url=https://www.theguardian.com/australia-news/2019/sep/11/australias-secretive-billionaire-david-teoh-steps-into-media-spotlight|title=Australia's secretive billionaire David Teoh steps into media spotlight |last=Butler |first=Ben |website=The Guardian |language=en |date=11 September 2019 |access-date=2019-09-12}} 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.{{Cite news|url= https://www.itnews.com.au/news/vodafone-and-tpg-15bn-merger-gets-court-approval-reports-537944 | title=Vodafone and TPG $15bn merger gets court approval|first=Ry|last=Crozier|website=IT News |date=2020-02-13}}
Personal life
Reclusive, Teoh has only been photographed in public twice. A photographer staked out his house for three days in 2015, 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.{{cite news|url=http://www.afr.com/news/rich-list-2016-gina-rinehart-richest-woman-but-wealth-takes-a-slide-20160526-gp4rbl|title=Rich List 2016: Gina Rinehart richest woman, but wealth takes a slide |accessdate=12 Aug 2016|work=Australian Financial Review |first=John|last=Stensholt|date=26 May 2016}}
=Net worth =
According to Forbes magazine, in 2019 Teoh was the 25th-richest person in Australia, estimated to have a net worth of approximately {{USD}}1.62 billion. {{as of|2025|05}}, the net worth of Teoh and his wife was assessed in the Australian Financial Review Rich List at {{AUD}}2.78 billion.
{{columns-start}}
{{column}}
| class="wikitable"
!colspan="2"|Legend |
| Icon
! Description |
|---|
| {{steady}}
|Has not changed from the previous year |
| {{profit}}
|Has increased from the previous year |
| {{loss}}
|Has decreased from the previous year |
{{columns-end}}
References
{{Reflist}}
{{Authority control}}
{{DEFAULTSORT:Teoh, David}}
Category:Australian billionaires
Category:Australian people of Chinese descent
Category:Malaysian emigrants to Australia
{{Australia-business-bio-stub}}