According to the latest Forbes list, Chalerm Yoovidhya, the co-owner of Red Bull, now leads Thailand’s wealthiest family, surpassing the Chearavanont brothers. The Yoovidhya family’s wealth increased by US$2.6 billion to reach $36 billion, while Red Bull’s revenue exceeded $11 billion last year from global sales of over 12 billion bottles and cans.
The Chearavanont brothers, known for Charoen Pokphand Group, dropped to the second spot as their wealth decreased from $34 billion to $29 billion. This decline was partly due to the struggles of one of their holdings, Ping An Insurance in China.
Photo credit: Bangkok Post
In third place is Charoen Sirivadhanabhakdi of Thai Beverage with an estimated wealth of $10 billion, down $3.6 billion from the previous year. The Chirathivat family holds the fourth position with $9.9 billion, a 20% decrease from last year. Their Central Group increased its stake in Selfridges department store in London.
Sarath Ratanavadi, an energy-and-telecom tycoon, remains in the fifth position with $9.2 billion, down from $11.3 billion. Meanwhile, Energy Absolute chief executive Somphote Ahunai’s wealth declined significantly to $995 million, moving him out of the top 10 to 32nd place due to concerns about the company’s debt.
Forbes Asia reported that the combined wealth of Thailand’s 50 richest individuals fell by nearly 12% to $153 billion, impacted by the declining Stock Exchange of Thailand index and the baht’s depreciation. You can find the complete list at https://www.forbes.com/lists/thailand-billionaires/
