The rich just got richer: Three Thai families make it to ‘Asia’s 50 Richest’ list by Forbes

[snoop1130]

The rich just got richer: Three Thai families make it to ‘Asia’s 50 Richest’ list by Forbes

By Coconuts Bangkok

 

Red bull heir Vorayuth “Boss” Yoovidhya“ is on the run from charges in a fatal hit and run killing. Photo: Vorayuth Yoovidhya/ Facebook

 

Three powerful Thai clans have been named to the latest Forbes Asia’s 50 Richest Families list, and they have gotten even richer since last year.

 

The Chearavanont family, who own the Charoen Pokphand Group (CP Group), boasts a bank balance of $US36.6 billion (THB1.2 trillion). Despite falling from second to fourth place this year, the family got richer by US$8.9 billion (THB295.8 billion) over this last trip around the sun. Who can complain?

 

The Chearavanont owns one of the world’s largest conglomerate companies. CP Group generates big income from agribusiness and food, retail, and telecommunications, with their well-known operation being the 7-Eleven convenience stores in Thailand and True Move cell service.

 

Full Story: https://coconuts.co/bangkok/news/rich-just-got-richer-three-thai-families-make-asias-50-richest-forbes/

 

-- © Copyright Coconuts Bangkok 2017-11-15

[cornishcarlos]

That's why my wife refuses to pay our electric bill at 7-11, she hates giving them an extra 10 baht :)

[GarryP]

18 minutes ago, cornishcarlos said:

That's why my wife refuses to pay our electric bill at 7-11, she hates giving them an extra 10 baht :)

I despise the company too. But it is so hard to avoid using their goods or services. Don't forget that True is in that conglomerate.

[Briggsy]

I suspect there is a lot more hidden from Forbes. I think they base their estimates on declared shareholdings and properties.

[GarryP]

1 minute ago, Briggsy said:

I suspect there is a lot more hidden from Forbes. I think they base their estimates on declared shareholdings and properties.

At least equal to or greater than the declared stuff.

[wakeupplease]

There is a family name I can think of that is missing on this list, India still gets massive handouts off the Brits do they not?, makes you wonder

[shady86]

That's why my wife refuses to pay our electric bill at 7-11, she hates giving them an extra 10 baht :)

You can try paying by visa, it's free through mea app.

[observer90210]

Their fortunes will make the mouths drip of all the off shore investment, brokers, salesmen or hawkers...

[owenm]

That's why I pay my electricity and water bills at Big C, only 5bht fee.. 

[cornishcarlos]

2 hours ago, owenm said:

That's why I pay my electricity and water bills at Big C, only 5bht fee.. 

 

We spend 100 baht in fuel to drive to the PEA office... That'll show those CP buggers :)

[greatwhitenorth]

You guys slay me.    5 baht or 10 baht

 

 To be in the top 1% of income earners in the world you need and income of  $32,400 US a year.  The vast majority of TV members are in the top 1% in the world.  

 

The filthy rich criticizing the obscenely rich (by global standards)

Edited November 15, 2017 by greatwhitenorth
emphasis

[Bob12345]

1 hour ago, greatwhitenorth said:

You guys slay me.    5 baht or 10 baht

 

 To be in the top 1% of income earners in the world you need and income of  $32,400 US a year.  The vast majority of TV members are in the top 1% in the world.  

 

The filthy rich criticizing the obscenely rich (by global standards)

Luckily the poor 80% of the world doesnt have internet access to criticize us so we can keep our little bubble up.

[wump]

1 hour ago, greatwhitenorth said:

You guys slay me.    5 baht or 10 baht

 

 To be in the top 1% of income earners in the world you need and income of  $32,400 US a year.  The vast majority of TV members are in the top 1% in the world.  

 

The filthy rich criticizing the obscenely rich (by global standards)

The vast majority in here gets 90,000 Baht a month? I think a lot of members do, but not the "vast majority"

[hansnl]

14 hours ago, GarryP said:

I despise the company too. But it is so hard to avoid using their goods or services. Don't forget that True is in that conglomerate.

Hard to avoid 7/11?

In 12.5 years in Thailand, I am happy to say, entered one of their premises once.

There are many other possibilities to buy things or pay things.

Awful business, 7/11

 

The big issue, however, is the growing grip on consumer related business by CP.

 

Edited November 16, 2017 by hansnl

[GarryP]

45 minutes ago, hansnl said:

Hard to avoid 7/11?

In 12.5 years in Thailand, I am happy to say, entered one of their premises once.

There are many other possibilities to buy things or pay things.

Awful business, 7/11

 

The big issue, however, is the growing grip on consumer related business by CP.

 

I meant the CP Group not just 7/11. I would be very surprised if you have managed to avoid all things CP:  True Corporation, True Visions, True Money, Charoen Pokphand  Foods, CP All, KFC, CP Fresh Mart, Siam Makro, to name but a few.  The stated aim of this conglomerate is that from waking up to going to bed they will be involved in your life and they are certainly heading that way. 

[YetAnother]

17 hours ago, snoop1130 said:

Three powerful Thai clans have been named to the latest Forbes Asia’s 50 Richest Families list, and they have gotten even richer since last year.

more interested to see where thailand's poor (aka farmers) rank amongst their peers

[Happyman58]

These are the people who keep the Junta in power. Ask them how much Tax they pay  100 Baht or 500 baht

[MickGC]

17 hours ago, cornishcarlos said:

That's why my wife refuses to pay our electric bill at 7-11, she hates giving them an extra 10 baht :)

I reckon the 7-11's here are great. Very convenient  and prices not much different to the major food chains, unlike back in the home country where they charge double. 

[GarryP]

18 minutes ago, Happyman58 said:

These are the people who keep the Junta in power. Ask them how much Tax they pay  100 Baht or 500 baht

Yes.  Just throw another in the pot with big business and the military and you have got the truly mutualistic relationship that is how Thailand operates.

[marko kok prong]

6 hours ago, greatwhitenorth said:

You guys slay me.    5 baht or 10 baht

 

 To be in the top 1% of income earners in the world you need and income of  $32,400 US a year.  The vast majority of TV members are in the top 1% in the world.  

 

The filthy rich criticizing the obscenely rich (by global standards)

Really,well that is very interesting and has surprised me,only $32,,400.

[greatwhitenorth]

9 minutes ago, marko kok prong said:

Really,well that is very interesting and has surprised me,only $32,,400.

Nearly 1/2 of the world's population — more than 3 billion people — live on less than $2.50 a day. More than 1.3 billion live in extreme poverty — less than $1.25 a day.

11 Facts About Global Poverty | DoSomething.org | Volunteer for ...

https://www.dosomething.org/us/facts/11-facts-about-global-poverty

[FritsSikkink]

7 hours ago, greatwhitenorth said:

You guys slay me.    5 baht or 10 baht

 

 To be in the top 1% of income earners in the world you need and income of  $32,400 US a year.  The vast majority of TV members are in the top 1% in the world.  

 

The filthy rich criticizing the obscenely rich (by global standards)

With the all the "I can live of 4000 THB per month people"?

[greatwhitenorth]

1 minute ago, FritsSikkink said:

With the all the "I can live of 4000 THB per month people"?

 

Yes, I didn t have lunch today, I now understand the feelings of starving Yemeni children.  

[marko kok prong]

1 hour ago, greatwhitenorth said:

Nearly 1/2 of the world's population — more than 3 billion people — live on less than $2.50 a day. More than 1.3 billion live in extreme poverty — less than $1.25 a day.

11 Facts About Global Poverty | DoSomething.org | Volunteer for ...

https://www.dosomething.org/us/facts/11-facts-about-global-poverty

Thanks for the link and the info,truly had no idea that sum put you in top 1% have learned something today.

[BuaBS]

4 hours ago, greatwhitenorth said:

Nearly 1/2 of the world's population — more than 3 billion people — live on less than $2.50 a day. More than 1.3 billion live in extreme poverty — less than $1.25 a day.

11 Facts About Global Poverty | DoSomething.org | Volunteer for ...

https://www.dosomething.org/us/facts/11-facts-about-global-poverty

Sure , but it's their own fault , or their parents fault.

[nausea]

The rich are getting richer - tell me something new; bread and circuses are the answer, bread and circuses.

[observer90210]

7 hours ago, hansnl said:

Hard to avoid 7/11?

In 12.5 years in Thailand, I am happy to say, entered one of their premises once.

There are many other possibilities to buy things or pay things.

Awful business, 7/11

 

The big issue, however, is the growing grip on consumer related business by CP.

 

Not aware of your area, but if a shopper like myself can reach within walking distance a 7/11 (which is often the case), and avoid using a bike or a car for light groceries, one could also look at it as a  humble, perhaps insignificant but modest contribution to reduce the greenhouse effect for the planet.

 

7/11 are not saints in their business culture, but at least the prices are clear and you don't need to argue or get ripped off with the farang price that some road hawkers or small stores are tempted to apply on their items that don't display the price.

[greatwhitenorth]

3 hours ago, BuaBS said:

Sure , but it's their own fault , or their parents fault.

Yes, especially the small children and babies They are the worst.

 

what a dip sh*t

[hobz]

Meanwhile poor get poorer in thailand.... Perfect for a populist party to win an election.... And thats why there will not be an election because current junta is controlled by these clans.