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Billionaire Profile
T
Global Rank
#2419

Image: Matthews, Brander, 1852-1929 | Public domain | via Wikimedia Commons

Terence (Terry) Matthews

CEO, Telecom
CANADA
Real-Time Net Worth
$1.578B
Estimated based on Telecom stock value as of March 6, 2026
0% (24h)
Age
82
Source
Telecom
Industry
Telecom
Citizenship
CANADA

Biography

Sir Terence (Terry) Matthews, a Welsh-Canadian business magnate born in 1943, is a prominent figure in the Telecom industry, and is known for being a serial entrepreneur and investor. With an estimated net worth of $1.6 billion, Matthews' wealth stems from his ventures in the telecommunications sector, most notably Mitel and Newbridge Networks. His career spans over 100 companies founded or funded through his investment firm, Wesley Clover, demonstrating significant achievements in the field. Matthews' leadership extends to his role as Chairman of Wesley Clover, the Celtic Manor Resort, and other private and publicly traded companies.

Fact Checked
Verified by Editorial Team
Live Data
Updated 3/6/2026

Wealth Over Time

In-Depth Profile

Early Life

Sir Terence Hedley Matthews was born on June 6, 1943, in Newport, South Wales. He studied at Swansea University and received a bachelor's degree in electronics in 1969.

Rise to Success

Matthews' career began with an apprenticeship at British Telecom's research lab. In 1972, he co-founded Mitel Corporation with Michael Cowpland. Mitel became a successful manufacturer of small PBX systems and telecom semiconductors. In 1986, Matthews founded Newbridge Networks, a leader in the data networking industry. Newbridge was later sold to Alcatel in 2000 for $7.1 billion. Matthews reacquired the Mitel PBX business and company name in 2000, and invested heavily in enterprise Voice over IP telephony technology.

Key Business Strategies

Matthews has founded or funded over 100 companies. He is known for his hands-on approach to business and his emphasis on building strong relationships. Matthews focuses on the importance of timing, persistence, and recognizing employees.

Philanthropy

Matthews founded the Wesley Clover Foundation, which supports entrepreneurship, healthcare, education, and community initiatives. He also hosts an annual gala that has raised over $1 million for charity.

Career Milestones

1972

Co-founded Mitel Corporation

Co-founded Mitel Corporation, which became a successful manufacturer of small PBX systems and telecom semiconductors.

1986

Founded Newbridge Networks

Founded Newbridge Networks, which became a leader in the worldwide data networking industry.

2000

Sold Newbridge Networks to Alcatel

Sold Newbridge Networks to Alcatel for $7.1 billion.

2000

Reacquired Mitel PBX business

Reacquired the Mitel PBX business and company name, transitioning it to private.

2018

Left chairman role at Mitel

Left his chairman role at Mitel after it was acquired.

Philanthropy & Social Impact

Entrepreneurship, Healthcare, Education, Community

Wesley Clover Foundation

Undisclosed

Supports entrepreneurship, healthcare, education, and community initiatives.

Business Philosophy & Leadership

Notable Quotes

""People don't leave companies because of money. They leave because they don't feel seen.""

""That's the secret. Timing, hard work, smarts and partners. Using that formula, I've either founded or funded over 80 companies, and none have gone bankrupt. Most have done very well.""

""Never stand still, that's my philosophy in life.""

Leadership Principles

Recognition beats compensation

Acknowledging and recognizing employees' efforts and contributions is more important than salary.

Ownership creates gravity

Ownership changes behavior and motivates people to act like builders.

Mentorship is Proximity, Not Advice

Being present, listening, and participating with those you are mentoring.

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