David Teoh
David Siang Hai Teoh | |
|---|---|
| Born | 1955 Malaysia |
| Occupation | Entrepreneur |
| Years active | 1986–present |
| Known for | Co-founder and former executive chairman of TPG; founder and executive chairman of Tuas Limited |
David Siang Hai Teoh is a prominent Australian entrepreneur. He held the position of executive chairman at TPG until March 26, 2021, a company he co-established in 1992 alongside his Taiwanese spouse, Vicky, following his relocation from Malaysia in 1986. Additionally, he is the founder and current executive chairman of Tuas Limited, which owns Singapore-based telecommunications firm Simba Telecom.
Biography
Initially launched as a computer retail enterprise, TPG broadened its scope through various acquisitions, including securing a mobile spectrum licence, ultimately evolving into a leading internet service provider.
In August 2018, Teoh revealed that TPG was in talks to merge with Vodafone Hutchinson Australia in a deal valued at $13 billion. He characterized the company’s pricing approach as “very aggressive” with a strong emphasis on customer benefit. Although the Australian Competition & Consumer Commission initially opposed the merger over concerns about diminished consumer options in the internet and mobile sectors, the Federal Court gave its approval in early 2020, enabling the $15 billion transaction to move forward.
Personal life
Known for his privacy, Teoh has been captured in public photographs only twice: once in 2015 when a photographer waited outside his residence, and again in 2019 during his court appearance related to the proposed Vodafone merger.
His four sons—Shane, Jack, John, and Bob—have collectively founded more than a dozen startups spanning industries such as apparel, furniture, technology, and eyewear. In 2016, reports indicated that his wife Vicky held substantial investments including stakes in Vita Life Sciences Ltd, a company operating within the pharmaceutical and healthcare fields.
Net worth
In 2019, Forbes placed Teoh as the 25th wealthiest individual in Australia with an estimated net worth near 1.62 billion. , the Australian Financial Review Rich List evaluated the combined wealth of Teoh and his wife at approximately 2.78 billion.
| Year | Financial Review Rich List |
Forbes Australia's 50 Richest | ||
|---|---|---|---|---|
| Rank | Net worth (A$) | Rank | Net worth (US$) | |
| 2013 | Template:Nts Template:Gain | $0.91 billion Template:Gain | ||
| 2014 | Template:Nts Template:Gain | $1.50 billion Template:Gain | ||
| 2015 | Template:Nts 
|
$1.60 billion Template:Gain | ||
| 2016 | Template:Nts Template:Gain | $1.95 billion Template:Gain | ||
| 2017 | $1.91 billion | Template:Nts 
|
||
| 2018 | Template:Nts Template:Gain | $1.76 billion
|
||
| 2019 | Template:Nts
|
$2.03 billion Template:Gain | Template:Nts Template:Gain | $1.62 billion Template:Gain |
| 2020 | Template:Nts Template:Gain | $2.54 billion Template:Gain | ||
| 2021 | Template:Nts
|
$2.55 billion 
|
||
| 2022 | Template:Nts
|
$2.60 billion Template:Up | ||
| 2023 | Template:Nts
|
$1.70 billion
|
||
| 2024 | Template:Nts Template:Up | $2.55 billion Template:Up | ||
Template:Loss| min-width=120px Legend | |
|---|---|
| Icon | Description |
| Unchanged from previous year | |
| Increased from previous year | |
| Decreased from previous year | |