Thailand’s richest just got a bit poorer

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Thailand’s Chearavanont family retains the first spot in the Forbes Thailand Rich List with $29.5 billion in wealth, followed by the Chirathivat family with $21 billion and Red Bull co-owner Chalerm Yoovidhya with $19.9 billion.

However, Forbes said Thailand’s top 50 richest list “hit a speed bump” this year as half of the top 50 saw their fortunes decline, including each of the top four.

It mentioned uncertainty ahead of the general election partly dampened sentiment, weakened the Thai baht and sent the country’s benchmark stock index down seven per cent as compared to a year ago.

“The combined net worth of the listed was marginally lower at $160.5 billion from last year’s total of $162.5 billion,” Forbes wrote.

The Chearavanont family owns the Charoen Pokphand Group, a conglomerate spanning over various businesses including food, agriculture, retail, real estate development, manufacturing, telecommunications, automotive, financial services and investments. The family’s net worth dropped slightly from $30 billion to $29.5 billion.

On the second position, the Chirathivat family posted a net worth of $21 billion, compared with $21.2 billion last year. The family owns Central Group, a mall operator and retail company.

Red Bull owner Chalerm Yoovidhya, in the third spot, saw his wealth at $19.9 billion down from $21 billion last year.

On rank four follows Charoen Sirivadhanabhakdi, founder of Thai Beverage, best known for its signature Chang beer. Sirivadhanabhakdi is also active in the property, retail and sport sponsoring businesses. His wealth stood at $16.2 billion, down from $17.4 billion.

Energy tycoon Sarath Ratanavadi, CEO of Gulf Energy Development, Thailand’s third-largest energy producer, had the largest gain. His fortune soared by $1.8 billion to $5.2 billion. It moved him into the top five for the first time.

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Thailand’s Chearavanont family retains the first spot in the Forbes Thailand Rich List with $29.5 billion in wealth, followed by the Chirathivat family with $21 billion and Red Bull co-owner Chalerm Yoovidhya with $19.9 billion. However, Forbes said Thailand's top 50 richest list “hit a speed bump” this year as half of the top 50 saw their fortunes decline, including each of the top four. It mentioned uncertainty ahead of the general election partly dampened sentiment, weakened the Thai baht and sent the country’s benchmark stock index down seven per cent as compared to a year ago. “The combined net...

Reading Time: 1 minute

Auto Draft

Thailand’s Chearavanont family retains the first spot in the Forbes Thailand Rich List with $29.5 billion in wealth, followed by the Chirathivat family with $21 billion and Red Bull co-owner Chalerm Yoovidhya with $19.9 billion.

However, Forbes said Thailand’s top 50 richest list “hit a speed bump” this year as half of the top 50 saw their fortunes decline, including each of the top four.

It mentioned uncertainty ahead of the general election partly dampened sentiment, weakened the Thai baht and sent the country’s benchmark stock index down seven per cent as compared to a year ago.

“The combined net worth of the listed was marginally lower at $160.5 billion from last year’s total of $162.5 billion,” Forbes wrote.

The Chearavanont family owns the Charoen Pokphand Group, a conglomerate spanning over various businesses including food, agriculture, retail, real estate development, manufacturing, telecommunications, automotive, financial services and investments. The family’s net worth dropped slightly from $30 billion to $29.5 billion.

On the second position, the Chirathivat family posted a net worth of $21 billion, compared with $21.2 billion last year. The family owns Central Group, a mall operator and retail company.

Red Bull owner Chalerm Yoovidhya, in the third spot, saw his wealth at $19.9 billion down from $21 billion last year.

On rank four follows Charoen Sirivadhanabhakdi, founder of Thai Beverage, best known for its signature Chang beer. Sirivadhanabhakdi is also active in the property, retail and sport sponsoring businesses. His wealth stood at $16.2 billion, down from $17.4 billion.

Energy tycoon Sarath Ratanavadi, CEO of Gulf Energy Development, Thailand’s third-largest energy producer, had the largest gain. His fortune soared by $1.8 billion to $5.2 billion. It moved him into the top five for the first time.

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