Wednesday, 3 July 2013

# Australian # David Teoh

Australian Telecom Owners David And Vicky Teoh Join Billionaire Ranks

The South Pacific has another billionaire family, and this time it’s the founders of TPG Telecom Limited (ASX:TPM) – Australia’s fourth-largest Internet service provider.

David Teoh, a Malaysian-born businessman who originally established TPG as a computer hardware vendor in 1986, and his wife Vicky clock in at a combined $1.05 billion (AU $1.15 billion), primarily from their 36.7% stake in their growing telecom company. The notoriously private couple have 292 million shares worth nearly $970 million. Cash and dividends push them over the billion dollar threshold.
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