Who are Terence Loh and Nelson Loh? The business interests and net worth of the Far East investors eyeing a Newcastle United takeover
Far East investors Terence and Nelson Loh are eyeing a takeover of Newcastle United – but who are they?
As exclusively revealed by the Gazette this morning, the cousins are looking to pounce after the Saudi-backed bid hit the buffers.
But what do we know about the duo, their business interests and wealth? We take a look:
Who are they?
Raised in Singapore, the Loh cousins have built up a strong portfolio of investments over the last decade.
They have become renowned for their unconventional approach to business – one report described their decision-making approach as resembling ‘child-like mischief’ – and they have ventured into several different areas of business.
Terence moved to California at 16 to try and forge his way in the business world, while Nelson attended the University of Cambridge.
Currently, both cousins are mostly based between Shanghai, Hong Kong and Singapore.
How did they make their money?
A great deal of the Loh’s success has come via the Dorr Group.
The private equity group, which is based in Asia, has invested in technology, new media and healthcare in the past.
Another success of the Loh family has been the Novena Global Lifecare brand - a medical centre with over 100 clients in Asia and growing quickly. They plan to expand to Spain and subsequently South America in the coming years.
Their family come from wealth, too. They own one of the biggest automotive distributors in China.
What are they worth?
The exact wealth of the Loh cousins is unknown, but we can gain some knowledge of their financial success through the dealings of the Dorr Group.
Reports have suggested that they currently manage over $5billion worth of assets – and they have previously launched multi-million buyouts into various new industries, suggesting they have cash to burn.
Have they been involved with sport before?
The duo are both avid sport fans – particularly when it comes to motorsport.
According to an article in read-a, the cousins are ‘both professional Federation Internationale de l’Automobile (FIA) drivers, co-founded the Dorr McElrea Racing Team in 2012, and under Novu, sponsored Singaporean veteran racecar driver, Yuey Tan, during the 2018 Porsche Mobil 1 Supercup races in Europe.’
So they are far from newcomers to sport – and have a real passion for the industry.
What do we know about their interest?
As reported by the Gazette this morning, the Loh hold a strong interest in Newcastle United.
Talks have been held between the buying party and club and the buyers are confident of striking a deal.
But in some quarters, there are hopes that the Saudi-backed bid – also involving the Reuben Brothers and Amanda Staveley – could be revived at some point, with the Premier League having put the ball firmly back into the buyer’s court after breaking their silence on the takeover on Friday afternoon in a letter to MP Chi Onwurah.