Teh Hong Piow was born on the 14th March 1930, in Singapore of Chinese ancestry, and is a businessman, best known to the world as the founder and Chairman of Public Bank Berhad located in Malaysia.
Have you ever wondered how rich Teh Hong Piow is, as of mid-2016? According to authoritative sources, it has been estimated that The Hong Piow`s net worth is at a minimum of $5 billion, which has been earned through his successful career as a businessman during a career now spanning over 60 years.
Teh Hong Piow Net Worth $5 Billion
Teh Hong Piow’s mother passed away when he was six years old, but with his father’s second marriage his siblings grew to 10. He was educated at the Anglo-Chinese School in Singapore, and wanted to study law, but his family’s finaces didn’t extend to supporting his ambition. However, he also holds three degrees from the Pacific Western University – now California Miramar University located in San Diego, California which provides courses via distance education, but which is unaccredited. Furthermore, he holds two PhDs obtained through Clayton University – which also hadn`t received accreditation – and from the University of Malaya, the oldest in the country.
To speak of his working life, Teh Hong Piow began his career in 1950, when he was appointed as a bank clerk of the Chinese Banking Corporation Ltd. He worked in that position for five years, when he was promoted to officer, which only increased his net worth, and encouraged him to continue with great work. Little by little his career prospects improved with experience as an accountant, and he left the Chinese Banking Corporation, and became a part of the Malayan Banking Berhad in the position of a manager, increasing further his net worth. After four years of successful management, Teh Hong Piow was promoted to the position of General Manager, when he was still only 34 years old.
However, driven by his ambition, two years later Teh Hong Piow left the Malayan Banking Berhad, and started his own company, Public Bank Berhad at the age of 36. Since then, his career has gone only upwards, and so has his net worth, reaching an impressive $5 billion, which makes him one of the fourth richest person in Malaysia. He still retains a personal 24% stake in the bank, now the third largest in Malaysia, but which has spread to several other countries in the region. Perhaps unusually for businesses in the region, there has never been any hint of corrupt dealings by Teh Hong Piow or his businesses, and he is known to maintaina strong business ethic principles, and in fact is acknowledged as one of the most open and transparent organizations.
Regarding his personal life, The Hong Piow has been married to Puan Sri Tay Sock Noy since 1956; the couple has four children.
