The Chearavanont Brothers of the Charoen Pokphand (CP) Group have retained the top spot on the 2023 Forbes list of Thailand’s 50 richest, with the combined wealth of all tycoons rising by almost 15% to US$173 billion.

According to a news release by business magazine Forbes on Thursday, the Chearavanont Brothers saw the largest gain in terms of dollars to maintain their position at No. 1. Their wealth surged to a record $34 billion, up from $7.5 billion last year.

Chalerm Yoovidhaya retains the No. 2 spot with $33.4 billion, fuelled by Red Bull sales of 11.6 billion cans worldwide, with revenue exceeding $10 billion in 2022. The energy drink tycoon added $7 billion to his wealth.

Charoen Sirivadhanabhakdi of Thai Beverage ranks third with $13.6 billion, up $2.4 billion from 2022.

The Chirathivat family of the Central Group moved up one spot to No. 4, with a net worth of $12.4 billion, up $1.8 billion from $10.6 billion last year.  

Energy billionaire Sarath Ratanavadi of Gulf Energy Development was fifth on the list with $11.3 billion, a slight increase from $11.1 billion previously.