David Teoh Net Worth

David Teoh has an estimated net worth of $1.8 billion, according to Forbes Real-Time Billionaires, David Teoh profile (figures as of October 20, 2026). That is down from a peak of $2.4 billion.

David Teoh is an Australian businessman best known for founding TPG with his wife Vicky in 1992. He built the company after emigrating from Malaysia in 1986. TPG began as a computer retail business, then grew through a series of acquisitions. Those deals helped turn it into a major internet service provider in Australia. Teoh later became known as the founder of one of the country’s biggest telecom companies.

His wealth comes mainly from telecom. Forbes says his current net worth is $1.8 billion on its real-time billionaires tracker as of October 20, 2026. A big step in TPG’s growth came when it merged with Vodafone Hutchison Australia in 2020 and was relisted as TPG Telecom. Teoh resigned as executive chairman in 2021. He is also the founder and executive chairman of Tuas Limited, which owns Simba Telecom in Singapore.

How David Teoh built his telecom fortune

Teoh made his name in telecom by building TPG from a small computer retailer into a large internet provider. Several acquisitions helped push that shift, including the purchase of a mobile spectrum licence. In 2018, he announced that TPG was in talks with Vodafone Hutchison Australia about a proposed merger. After court approval in early 2020, the companies combined and the business was relisted as TPG Telecom.

His business interests also reach into Singapore. Teoh is the founder and executive chairman of Tuas Limited, which owns Simba Telecom, formerly TPG Singapore. Forbes notes that Simba Telecom is seeking to buy M1 in a $1.1 billion deal, pending regulatory approval. Teoh stepped down as executive chairman of TPG in 2021, but the companies he built remain the core source of his fortune in the telecom industry.

What Forbes says about his net worth

Forbes has tracked Teoh’s fortune through several changes in recent years. Its estimate was $1.4 billion in 2020, then $1.9 billion in 2021. It later moved to $1.6 billion in 2022 and $1.5 billion in 2023. Those swings came as TPG changed shape through its merger with Vodafone Hutchison Australia and as Teoh moved out of the executive chairman role after the deal.

The estimate later turned higher again. Forbes put his fortune at $1.6 billion in 2024 and $1.9 billion in 2025, before reaching $2.4 billion on the 2026 World’s Billionaires List. Forbes currently says he is worth $1.8 billion on its real-time tracker as of October 20, 2026. That range shows how closely his wealth is tied to the value of his telecom holdings and related deals.