From seed to fortune: The Chearavanont family’s billion-dollar rise

[snoop1130]

Photo courtesy of Thai-Swedish Chamber of Commerce Facebook

 

By Puntid Tantivangphaisal

 

What started as a humble seed shop in Bangkok has blossomed into one of the world’s wealthiest empires. The Chearavanont family, with a staggering net worth of US$44.1 billion (approximately 1.5 trillion baht), ranks 19th on Bloomberg’s list of the 25 richest families globally. Here’s how they did it.

 

A century ago, brothers Chia Ek Chor and Chia Siew Whooy opened a small store selling seeds to Thai farmers. Fast-forward to today, and their venture, Charoen Pokphand (CP) Group, is a conglomerate powerhouse spanning 14 industries—from agriculture and telecommunications to retail and healthcare—operating in 21 countries with annual revenues of 97.28 billion.

 

Under the visionary leadership of Dhanin Chearavanont, the youngest of Chia’s sons, CP transitioned from a family-run business to a professionally managed corporate giant.

 

“Novices can only take a business so far,” Dhanin reflected in his autobiography, underscoring the importance of expert management. His bold moves, including persuading his brothers to relinquish managerial roles, allowed CP to scale unprecedented heights.

 

 

But success didn’t come without setbacks. The 1997 Asian financial crisis forced Dhanin to sell assets like a Chinese brewery and motorcycle firm—losses he later recouped with strategic acquisitions, including Ping An Insurance for 9.4 billion in 2012.

 

In recent years, CP’s influence has only grown. From acquiring Tesco’s Southeast Asian operations for 10.6 billion to merging telecom giant True with a rival, CP remains a key player in Thailand’s economy. Even during the Covid-19 pandemic, the group rose to the occasion, building a face mask factory and supporting relief efforts, reported VN Express.

 

Today, with Dhanin’s sons at the helm, CP continues to honour its legacy while shaping the future.

 

“The story of CP is the story of resilience, vision, and the spirit of Thailand.”

 

Source: The Thaiger

-- 2024-12-27

 

 

[KireB]

“The story of CP is the story of resilience, vision, and the spirit of Thailand.”

No, it isn't. It's the story of greed, corruption and pollution-for-profit. 

[hotchilli]

12 hours ago, snoop1130 said:

What started as a humble seed shop in Bangkok has blossomed into one of the world’s wealthiest empires. The Chearavanont family, with a staggering net worth of US$44.1 billion (approximately 1.5 trillion baht), ranks 19th on Bloomberg’s list of the 25 richest families globally. Here’s how they did it.

Family done good, and employ thousands of  workers.

[Slocum]

14 hours ago, KireB said:

“The story of CP is the story of resilience, vision, and the spirit of Thailand.”

No, it isn't. It's the story of greed, corruption and pollution-for-profit. 

"Sourgrapes" 

[JimHuaHin]

14 hours ago, KireB said:

“The story of CP is the story of resilience, vision, and the spirit of Thailand.”

No, it isn't. It's the story of greed, corruption and pollution-for-profit. 

You left out exploitation of workers - where do profits come from?

[JimHuaHin]

2 hours ago, hotchilli said:

Family done good, and employ thousands of  workers.

Employs hundreds of thousands of workers; but what about the tens of thousands of small family businesses that are forced to close due to 711s appearing on almost every corner; or the tens of thousands of farmers who have lost their land and future due to massive agribusiness expansion?

 

Go to Scholar Google and do a search on CP, and discover academic articles published overseas on the damage that CP has done to Thai families.

[hotchilli]

7 minutes ago, JimHuaHin said:

Employs hundreds of thousands of workers; but what about the tens of thousands of small family businesses that are forced to close due to 711s appearing on almost every corner; or the tens of thousands of farmers who have lost their land and future due to massive agribusiness expansion?

 

Go to Scholar Google and do a search on CP, and discover academic articles published overseas on the damage that CP has done to Thai families.

The dark side of Capitalism, but what's the alternative?

[Hawaiian]

18 minutes ago, JimHuaHin said:

Employs hundreds of thousands of workers; but what about the tens of thousands of small family businesses that are forced to close due to 711s appearing on almost every corner; or the tens of thousands of farmers who have lost their land and future due to massive agribusiness expansion?

 

Go to Scholar Google and do a search on CP, and discover academic articles published overseas on the damage that CP has done to Thai families.

A few years back I saw a video on how CP destroyed the livelihood of a Chanthaburi fishing community with their shrimp farm operation polluting the local fishing grounds. 

Majority of the CP farm worker were Cambodians.

[KireB]

52 minutes ago, Slocum said:

"Sourgrapes" 

Is that the best you have? 

[klauskunkel]

16 hours ago, snoop1130 said:

What started as a humble seed shop in Bangkok has blossomed into one of the world’s wealthiest empires. Here’s how they did it.

CP transitioned from a family-run business to a professionally managed corporate giant.

So, now we all know how they did it.

Thank you, Puntid Tantivangphaisal, you are a journalistic gem...

[anchadian]

15 hours ago, KireB said:

“The story of CP is the story of resilience, vision, and the spirit of Thailand.”

No, it isn't. It's the story of greed, corruption and pollution-for-profit. 

Links please to back up your statement

[Grandpa Cool]

It's strange how we admire the super rich and powerful. I have to say that I too admire entrepreneurship but  I don't like the accumulation of vast wealth to the detriment of others.

There's something very wrong in this world when do few people control and accumulate such vast wealth. 3 individuals in the USA have more than 50% of the population combined. We live in a world where half the population lack education, proper housing, basic health care and even basics like running water.

Unequal distribution of wealth is a major cause of the suffering of humanity. 

What is the remedy?

Heavily tax the wealthy and super rich worldwide and invest that money where it is needed worldwide : education, housing , healthcare, water reticulation, pollution control, etc.

But we won't do this! Instead we let the few who know how to accumulate vast wealth run everything, including politics. And blindly we give them accolades like this article. The rich get richer and the poor get poorer.

[redwood1]

I have done my part to help CP to become billionaires.....All the ice creams and microwaved chicken sandwiches I bought from 7-11 made them rich......CP should send me one of their billions  as a rebate for all my purchases....

[KireB]

45 minutes ago, anchadian said:

Links please to back up your statement

Is this a forum with opinions or a scientific journal?

[Classic Ray]

I am interested to see what will happen with the 3 Airports project that they control. 
 

Whether they actually complete it or sell it off to companies with better rail experience and ability remains to be seen.

[phetphet]

45 minutes ago, redwood1 said:

I have done my part to help CP to become billionaires.....All the ice creams and microwaved chicken sandwiches I bought from 7-11 made them rich......CP should send me one of their billions  as a rebate for all my purchases....

It's hard to buy without buying at least something from them. Bought out most of the competition.

[Emdog]

F. Scott Fitzgerald is credited with the quote, "At the heart of every great fortune lies a great crime".

[oustaristocrats]

2 hours ago, JimHuaHin said:

You left out exploitation of workers - where do profits come from?

 

 

Not only this. Most off all the unfair competion practices, non existing cartel legislation of acquiring the entire food chain, from CP to LOTUS'S to 7/11. Especially the takeover from Tesco would have been a no-go In any other country, but not in Thailand. Now people have to eat these plastic lookalike CP saucages and other low quality stuff they manufacture in their factories.

 

The CP arms reach very far, even a special exit from the new motorway M6 near Khao Yai was requested by CP, of course not in the newspapers, CP will get it done. Not only CP, in Thailand the elite get it all done.

[Liverpool Lou]

2 hours ago, KireB said:

3 hours ago, Slocum said:

"Sourgrapes" 

Is that the best you have? 

It's all he needed and it is more than enough.

[Liverpool Lou]

27 minutes ago, Emdog said:

F. Scott Fitzgerald is credited with the quote, "At the heart of every great fortune lies a great crime".

What so good about being credited with quoting b0llocks?

[Liverpool Lou]

25 minutes ago, oustaristocrats said:

Now people have to eat these plastic lookalike CP saucages and other low quality stuff they manufacture in their factories.

No, they do not, there are many alternatives.

[Hawaiian]

45 minutes ago, oustaristocrats said:

 

 

Not only this. Most off all the unfair competion practices, non existing cartel legislation of acquiring the entire food chain, from CP to LOTUS'S to 7/11. Especially the takeover from Tesco would have been a no-go In any other country, but not in Thailand. Now people have to eat these plastic lookalike CP saucages and other low quality stuff they manufacture in their factories.

 

The CP arms reach very far, even a special exit from the new motorway M6 near Khao Yai was requested by CP, of course not in the newspapers, CP will get it done. Not only CP, in Thailand the elite get it all done.

In the U.S. it is not unusual to accommodate big developments with easy traffic access.  This not only benefits the businesses, but also allows for a better flow of traffic and safety.  Whether CP is paying for this, I don't know.  I think they should.

[Yagoda]

9 minutes ago, Hawaiian said:

In the U.S. it is not unusual to accommodate big developments with easy traffic access.  This not only benefits the businesses, but also allows for a better flow of traffic and safety.  Whether CP is paying for this, I don't know.  I think they should.

There is usually a public-private division. For example, in a large Apple project of 281 acres, Apple provides the road work in the complex itself while the public provides the access. But the roads are public even in  the complex/.

[petedk]

1 hour ago, phetphet said:

It's hard to buy without buying at least something from them. Bought out most of the competition.

 

 

Are you using True Mobile or True Internet?  Their monopoly (almost) of the communication market wouldn't be allowed in many countries.

Everyone mentions 7-11 and Lotus, but what about Macro? MG cars?

 

You are right, the CP conglomerate controls a huge portion of the Thai consumer market.

[Hawaiian]

1 hour ago, petedk said:

 

 

Are you using True Mobile or True Internet?  Their monopoly (almost) of the communication market wouldn't be allowed in many countries.

Everyone mentions 7-11 and Lotus, but what about Macro? MG cars?

 

You are right, the CP conglomerate controls a huge portion of the Thai consumer market.

When a business of this size continues to devour the competition their political clout also grows.  Not really a healthy situation for the country. 

[Briggsy]

6 hours ago, JimHuaHin said:

You left out exploitation of workers - where do profits come from?

Not necessarily exploitation of workers (but probably) but definitely exploitation of the the consumer by monopolistic dominance of the industries in which they operate.

 

I am not a huge fan of government regulation but CP stifles any competition. This drives up prices, reduces consumer choice and drives down quality.

[ozz1]

I know a lot of Thais that if it wasn't for 7-Elevens they would have no work if it wasn't for them even though they have been to university and have degrees and I know first hand that they love their company and think they are well looked after

[attila2020]

read the book "Asian Godfathers: Money and Power in Hong Kong and Southeast Asia" . 

[JimHuaHin]

8 hours ago, hotchilli said:

The dark side of Capitalism, but what's the alternative?

There are different types, or models, of modern capitalism; some maximise the exploitation of workers (and consumers), others minimise it.  Do a Google (or other) search on "Types of capitalism".

[BarBoy]

23 hours ago, KireB said:

“The story of CP is the story of resilience, vision, and the spirit of Thailand.”

No, it isn't. It's the story of greed, corruption and pollution-for-profit. 

totally agree.