Thailand's rich list
published : 9 May 2019 at 11:49
writer: Online Reporters
The Chearavanont family retains No.1 spot in the Forbes Thailand Rich list with US$29.5 billion (938.6 billion baht), followed by the Chirathivat family with $21 billion (668.2 billion baht) and the Red Bull owner Chalerm Yoovidhya with $19.9 billion (633.2 billion baht).
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, sapped the Thai baht and sent the country's benchmark stock index down seven percent as compared to a year ago. "The combined net worth of listees was marginally lower at $160.5 billion (5.11 trillion baht) from last year's total of $162.5 billion (5.17 trillion baht)," Forbes reported.
The Chearavanont family owns the Charoen Pokphand Group. The family's net worth dropped slightly from $30 billion (954.5 billion baht) to $29.5 billion (938.6 billion baht).
On the second position, the Chirathivat family (Central Group) posted a net worth of $21 billion (668.2 billion baht), compared with $21.2 billion (674.5 billion baht) last year.
Red Bull owner Chalerm Yoovidhya, in the No.3 spot, saw his wealth at $19.9 billion (633.2 billion baht), down from $21 billion (668.2 billion baht).
Charoen Sirivadhanabhakdi of Thai Beverage was at No.4 with $16.2 billion (515.45 billion baht), down from $17.4 billion (553.6 billion baht).
Wealth grew for one-third of the listees. Energy tycoon Sarath Ratanavadi had the largest gain. His fortune soared by $1.8 billion (57.27 billion baht) to $5.2 billion (165.4 billion baht). It moved him into the top five for the first time, thanks to revenue from his Gulf Energy Development Plc.