Chearavanonts again top Forbes list as wealth soars for rich Thais

By The Nation

 

 

Thailand’s richest saw their collective wealth surge to more than US$162 billion, up one-third from the previous year, according to the Forbes Thailand Rich List 2018.

 

Among the top 50 richest on the list, two-thirds saw their wealth rise, with the top four alone adding close to $25 billion.

 

The list can be viewed at www.forbes.com/thailand and www.forbesthailand.com as well as in the May issues of Forbes Asia and Forbes Thailand.

 

After a subdued spell, Thailand’s economy is gathering momentum, Forbes noted. 

 

With rising exports and a recovery in domestic demand, the World Bank has forecast that, for the first time since 2012, Thailand’s economic growth will exceed 4 per cent in 2018. 

 

Relative to this modest upturn, the nation’s richest are enjoying a disproportionate wealth boom, spurred by stock market gains and a stronger baht.

 

The top four on the list are the year’s biggest dollar gainers, with the Chearavanont brothers of the Charoen Pokphand Group retaining the No 1 spot with a record $30 billion. 

 

Their wealth got a boost from soaring shares of their key holdings, such as 7-Eleven operator CP All, which benefited from an uptick in sales, and Chinese insurer Ping An, whose fintech bets are paying off.

 

Taking the second spot on the list is the Chirathivat family of Central Group, who saw their wealth rise to $21.2 billion, up from $15.3 billion last year. 

 

Red Bull owner Chalerm Yoovidhya and his clan took the No 3 spot on the list as their wealth increased by $8.5 billion to $21 billion this year.

 

Charoen Sirivadhanabhakdi (No 4, $17.4 billion) of Thai Beverage saw his fortune increase by $2 billon from a year ago.

 

Another big winner is Aloke Lohia (No 9), whose wealth surged 89 per cent to $3.3 billion this year. Since 2014, his prolific deal-making saw his Indorama Ventures net 16 acquisitions across the globe, including in Europe and North America. For 2017, his company reported a 17 per cent jump in revenue to $8.4 billion.

 

Reflecting rising prosperity, there are $32-billion-plus fortunes on this year’s list, four more than in 2017. There are four new names, including two newly minted billionaires who join the ranks after taking their companies public. 

 

US-educated Sarath Ratanavadi (No 7), CEO of Gulf Energy Development, which listed in December, is the richest newcomer with $3.4 billion.

 

Prachak Tangkaravakoon (No 14) makes his debut on the list with a net worth of $2.1 billion. 

 

The other two new listees are from Thailand’s buoyant beauty industry. They are Suwin and Tanyapon Kraibhubes (No 40) of Beauty Community with a combined net worth of $715 million and Sarawut Pornpatanaruk (No 45, $675 million), whose Do Day Dream is cashing in on the skin-whitening craze.

 

Of the nine women who feature in the top 50, there are two returnees this year, including matriarch Somporn Juangroongruangkit (No 28, $1.3 billion), chairman of auto parts group Thai Summit.

 

Another notable woman to make the list is shipping heiress Nishita Shah Federbush (No 32, $1.06 billion), who helms the GP Group and saw her family’s fortune cross $1 billion for the first time. Much of the gain was due to the family’s 51-per-cent stake in listed pharma unit Mega Lifesciences, founded by her father Kirit in 1982.

 

THE TOP 10

Chearavanont brothers, US$30 billion

Chirathivat family, $21.2 billion 

Chalerm Yoovidhya, $21 billion

Charoen Sirivadhanabhakdi, $17.4 billion

Vichai Srivaddhanaprabha, $5.2 billion

Krit Ratanarak, $3.7 billion

Sarath Ratanavadi, $3.4 billion

Prasert Prasarttong-Osoth, $3.35 billion

Aloke Lohia, $3.3 billion 

Vanich Chaiyawan, $3 billion

 

The list was compiled using shareholding and financial information obtained from the families and individuals, stock exchanges and analysts, the Stock Exchange of Thailand and regulatory agencies. 

 

The list encompasses family fortunes, including those shared among extended families of multiple generations. Public fortunes were calculated based on stock prices and exchange rates as of April 20.

 

Source: http://www.nationmultimedia.com/detail/breakingnews/30344532

 

-- © Copyright The Nation 2018-05-03

And that Ladies and Gentlemen is why the 'Amart' will always rule Thailand

23 minutes ago, canopus1969 said:

And that Ladies and Gentlemen is why the 'Amart' will always rule Thailand

Yes its terrible that wealth is so disproportionately shared in thaialnd whereas the rest of the world is a utopian egalitarian paradise where EVERYONE has an account in the cayman islands and a yacht moored in the bahamas.

People such as these mega-wealthy elites are rightly called the 'filthy rich': they are the moral dregs and dross of society - far, far worse than any harmless beggar on the street. They are part of the power-wielders who ensure that fascism and oppression of the people continues and that there will always be beggars on the street and poverty up and down the length and breadth of the land.

 

For me, such smug (look at the photo), super-wealthy, beyond-selfish individuals are barely human any more - if ever they were!

 

Edited May 3, 20188 yr by Eligius

"wealth soars for rich Thais"

 

There ya go ladies and gentlemen, the army doing the job it was employed to do.

 

Pure and simple.

 

 

Well after they are gone, they will only be remembered because of their wealth not because they did anything else remarkable.

On the other side of the coin,they should list the poorest people

in Thailand,you know the ones that haven't even got a pot to piss

in.

regards worgeordie

43 minutes ago, KiwiKiwi said:

"wealth soars for rich Thais"

 

There ya go ladies and gentlemen, the army doing the job it was employed to do.

 

Pure and simple.

 

 

exactly, the cp group family and red bull family very active in pro-coup and look what happens the generals economic team is mostly made up of cp group or ex-cp group execs and seeing the family is chinese its no surprise to see them become an open door to chinese investment. There was that lady the whistleblower at the bank who witnessed the transfer of billions of baht to a singapore account in mr p's name. They never denied it just kept her quiet ever since.

Once Chinese big business and millitary govern using a caste system then it needs a full blown revolution from bottom up of society. Otherwise its just an organised crime syndicate running the country

1 minute ago, humbug said:

exactly, the cp group family and red bull family very active in pro-coup and look what happens the generals economic team is mostly made up of cp group or ex-cp group execs and seeing the family is chinese its no surprise to see them become an open door to chinese investment. There was that lady the whistleblower at the bank who witnessed the transfer of billions of baht to a singapore account in mr p's name. They never denied it just kept her quiet ever since.

Once Chinese big business and millitary govern using a caste system then it needs a full blown revolution from bottom up of society. Otherwise its just an organised crime syndicate running the country

"Otherwise its just an organised crime syndicate running the country",

 

Same as it ever was, has been for decades and the Godfather is...?

47 minutes ago, KiwiKiwi said:

"Otherwise its just an organised crime syndicate running the country",

 

Same as it ever was, has been for decades and the Godfather is...?

yes and from these chinese families could be a few new godfathers with the state godfather behind them over in the motherland

5 hours ago, webfact said:

Thailand’s richest saw their collective wealth surge to more than US$162 billion, up one-third from the previous year, according to the Forbes Thailand Rich List 2018.

 

Indeed, happiness is restored...

Same everywhere 40% in abject poverty pays for super rich and the mushrooming cloud of trinket inventers.  

It's easier getting rich when your income is protected by laws making competition hard.

 

10 hours ago, Expatthailover said:

Yes its terrible that wealth is so disproportionately shared in thaialnd whereas the rest of the world is a utopian egalitarian paradise where EVERYONE has an account in the cayman islands and a yacht moored in the bahamas.

 

The disparity in wealth distribution is far more skewed than it is in, for instance, the UK:

 

55% of wealth shared among top 1% in Thailand.

 

45% of wealth shared among top 10% in UK.

 

At the other end of the scale:

 

8.7% of wealth shared among bottom 50% in UK.

 

5.7% of wealth shared among bottom 60% in Thailand.

 

(UK sources "The Equality Trust")

 

Just one of the reasons that your dream life in the tropics ("ExpatlovestheThailifehegets".......living on the backs of other peoples poverty) is built on a powder keg.

 

 

 

 

 

Edited May 3, 20188 yr by Enoon

10 hours ago, Expatthailover said:

Yes its terrible that wealth is so disproportionately shared in thaialnd whereas the rest of the world is a utopian egalitarian paradise where EVERYONE has an account in the cayman islands and a yacht moored in the bahamas.

Big deal.  I have $20 Billion dollars and change (in other currencies).  Hoping my pocket change lasts the rest of my life. 

 

11 hours ago, webfact said:

Red Bull owner Chalerm Yoovidhya and his clan took the No 3 spot on the list as their wealth increased by $8.5 billion to $21 billion this year.

 

So his share of the Red Bull profit was 8.5 bn us$...i wonder how they did that, was it a record sales year for redbull??

17 hours ago, webfact said:

With rising exports and a recovery in domestic demand, the World Bank has forecast that, for the first time since 2012, Thailand’s economic growth will exceed 4 per cent in 2018

 And the interest rates the banks are giving for fixed deposits are only falling ...? Something's wrong here...

And what if the common man woman..... But never mind the good of the people, as long as the rich get theirs the bodies of the the common man woman and child mean nothing. Buddhists my ass. Thieving thugs

I bet some new watches will get sent out.

They often claim to be proud of their country, but if things go against them they will bolt to their tax havens in the blink of an eye. They care for one thing only.

Speaks Volumes 

22 hours ago, webfact said:

Chalerm Yoovidhya, $21 billion

And that.....is why Boss Red Bull will never be caught!

4 hours ago, Oziex1 said:

They often claim to be proud of their country, but if things go against them they will bolt to their tax havens in the blink of an eye. They care for one thing only.

They?

Love the smell of misplaced paranoia

1 minute ago, Expatthailover said:

They?

Love the smell of misplaced paranoia

How is my comment paranoid, people respond to circumstances to suit themselves and i find it disapointing the wealthy elites may choose to abandon their countries rather than tough it out.

Rupert changed citizenship purely for busines purposes. 

On 5/3/2018 at 10:23 AM, canopus1969 said:

And that Ladies and Gentlemen is why the 'Amart' will always rule Thailand

No, it´s definately not. This is something you see in all countries around the world. The problem you are trying to explain in just one sentence is much bigger and more complexed to be dealt with that qiuck.

A post containing an out of date image has been removed as well as a reply. 

And at Number 19 is our favourite, the one, the only....

 

 

On 03/05/2018 at 11:31 PM, DrTuner said:

It's easier getting rich when your income is protected by laws making competition hard.

If I was incredibly rich and some pesky folk started to "take" some of my hard earned inheritance, be nice if I could send the army in to make sure it remained all mine! 

Just a minute? 

The Central Group family's wealth increased almost US$6 billion in one year. Think about that, that's US$500 million per month, that's just under THB16 BILLION, more or less THB500 MILLION per day, I can't comprehend how that is possible. 

The Central Group family's wealth increased almost US$6 billion in one year. Think about that, that's US$500 million per month, that's just under THB16 BILLION, more or less THB500 MILLION per day, I can't comprehend how that is possible. 

Well, they did sacrifice one of their flagship shopping malls a few years back. Maybe, one good turn deserves another.

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