Hong Piow Teh – Billionaire

Low-profile tycoon Teh Hong Piow gets the bulk of his wealth from his 24% stake in Public Bank, Malaysia’s third-largest banking group by assets. Its reach extends to Hong Kong, China, Cambodia, Vietnam, Laos and Sri Lanka. He founded the bank in 1966 and it’s maintained a track record of consistent profitability. He started his career as a clerk with Oversea-Chinese Banking Corp. and he also owns 44% of insurance business LPI Capital. In 2016 he became the first Malaysian banker to get a Cambodian royal award for his contribution to economic development in Cambodia.

Teh Hong Piow net worth: Teh Hong Piow is a Singapore-native, Malaysian billionaire who has a net worth of $6.2 billion. Teh Hong Piow is the founder of Publik Bank (Malaysia’s third largest bank by assets) and has served as its chairman for almost half a century, Teh Hong Piow saw his fortune rise along with the rise of his bank’s shares. He started his six-decade professional career in 1950, when he served as clerk at the Oversea-Chinese Banking Corp. In five years he became an officer there, and in 1960 he joined Malayan Banking Berhad as manager. Four years later, he was promoted to the position of General Manager at the young age of 34. Then in 1966, Hong Piow left Malayan Banking to set up his Public Bank. With 17500 employees and 400 branches, the bank has developed into Hong Kong, Vietnam, China and Cambodia. Hong Piow’s other interests include a stake in insurance firm LPI Capital. Apart from being a banker, he is also a philanthropist who supports many charity actions like the Malaysian Paralympic Council, which oversees sports events for the disabled. An avid photographer and a devoted father of four, Teh Hong Piow is one of the five richest people in Malaysia.

Source:

1. forbes

2. celebritynetworth