Dhanin Tops Forbes's Thailand Rich List

[webfact]

BILLIONAIRES

Dhanin tops Forbes's Thailand Rich List

By The NATION

Dhanin Chearavanont, 72, the head of agribusiness conglomerate Charoen Pokphand Group (CP Group), remains the wealthiest with a net worth at US$7.4 billion, according to Forbes Asia's 2011 Thailand Rich List.

Released today, Forbes' list showed that as food demandrises across Asia, the CP Group has seen double-digit growth in some of its business in the last 12 months.

The top 10 richest in Thailand are:

1) Dhanin Chearavanont; US$7.4 billion

2) Chaleo Yoovidhya; $5 billion

3) Charoen Sirivadhanabhakdi; $4.8 billion

4) Chirathivat family; $4.3 billion

5) Krit Ratanarak & family; $2.5 billion

6) Aloke Lohia; $2.1 billion

7) Chamnong Bhirombhakdi; $2 billion

8) Vichai Maleenont; $1.5 billion

9) Isara Vongkusolkit & family; $1.4 billion

10) Praneetsilpa Vacharaphol & family; $1.05 billion

The net worth of Thailand's 40 richest tycoons are up 25 per cent to US$45 billion as relative calm returned to the country's political scene and economy, and share prices rebounded, according to the list.

Yingluck Shinawatra's victory in the July's general election following the violent upheaval the year before helped the SET index reach levels not seen in 15 years, up 21.7 per cent. In the same period, the Thai baht rose 6.1 per cent against the dollar.

The Shinawatra family has benefited from the development as well.

Coming at No. 19 is former premier Thaksin Shinawatra and family, up four spots from last year. The Shinawatra's fortune is up 53 per cent to $600 million, thanks to a stock split and doubling of share price of his family's real estate development firm, SC Asset. Thaksin who advised younger sister, Yingluck, on her election campaign, has $2 billion in assets frozen by Thai authorities following the family's 2006 sale of Shin Corp., the telecom group he founded.

The second richest person on the list is Chaleo Yoovidhya, 79, who co-founded theenergy drink giant Red Bull with an Austrian marketing whiz. Yoovidhya's net worth of $5 billion is higher than the $4.2 billion chalked up the year before. He owns 49 per cent of the company while his son, Chalerm, ranked No. 37 on the list, owns 2 per cent, and has a net worth of million.

The wealth of three-quarters of those on the 2011 Thailand Rich List increased. The top two gainers are Prasert Prasarttong-Osoth (No. 17) at $620 million and Pongsak Viddayakorn (No. 28) with a net worth of $310 million. The two co-founders of hospital group, Bangkok Dusit Medical Service, saw their net worths skyrocket 138 per cent and 121 per cent respectively, as shares in their company reached a five-year high.

The third richest man in Thailand, Charoen Sirivadhanabhakdi, 67, amassed a fortune worth $4.8 billion from selling beer and whiskey and real estate investments. Thai Beverage, the country's largest brewer and distiller was listed in Singapore in 2006 and its stock has been flat over the past year.

The Chirathivat family takes up the No. 4 position with $4.3 billion. Descendants of Central Group's late founder, Tiang Chirathivat, share the fortune largely derived from their ownership of Central Retail and Central Pattana.

There are two newcomers to this year's list: Prachai Leophairatana, at No. 29 with $300 million, whose shares in his cement maker, TPI Polene, hit a 3-year high in August; and Pete Bodharanik at No. 34 with $245 million, whose telecoms stock, Jasmine International, quintupled in the past 15 months since the company won an infrastructure bid for an internet project and tied up with AIS to launch nation-wide Wi-Fi.

Pete Bodharanik and Niti Osathanugrah, both 38 years old, are among the youngest on the top 40 list. Niti Osathanugrah, with a net worth of $255 million, holds a 25 per cent stake in Osotspa, maker of energy drinks and personal-care products. The avid investor has a stake in William E. Heinecke's (No. 23) Minor International and other companies. Nishita Shah Federbush, 31, with a fortune of $340 million, is the youngest on the list. Ranked no. 27, she is a director and shareholder of Precious Shipping founded by her father.

This year, a minimum of $195 million was needed to qualify for the list, up from $140 million last year.

The billionaires' fortune is based on share prices and exchange rates as of August 9.

The full list of Thailand's 40 richest can be found in the September 2011 issue of Forbes Asia, which is available on newsstands now.

-- The Nation 2011-08-31

[kraplung]

Hmmm.........?

Edited August 31, 2011 by kraplung

[Boater]

just goes to show how many rich people there are in Thailand ! ,

[jonclark]

just goes to show how many rich people there are in Thailand ! ,

Wonder how many of them are democrat supporters??

If Taksin had the means to fund an army, I'm fairly sure this lot could as well.

[rubin]

congratulations!

[Richard4849]

What's also interesting, in light of all the griping here about how the poor guy/the foreigner can never get ahead in Thailand, are:

how many of them represent new wealth, within the past generation or two

how many of them are the children or grandchildren of immigrants

how many of them are not natural born Thais at all

[Bakseedaa]

What's also interesting, in light of all the griping here about how the poor guy/the foreigner can never get ahead in Thailand, are:

how many of them represent new wealth, within the past generation or two

how many of them are the children or grandchildren of immigrants

how many of them are not natural born Thais at all

All of the top 20 are Thai Chinese peoples..... surprise surprise..

[Richard4849]

Most, but definitely not all.

In any case, it does show that foreigners CAN get ahead in Thailand and that the "old guard" does NOT have a lock on upward mobility.

Most of these people are just a few decades from having mud between their toes.

[DP25]

What's also interesting, in light of all the griping here about how the poor guy/the foreigner can never get ahead in Thailand, are:

how many of them represent new wealth, within the past generation or two

how many of them are the children or grandchildren of immigrants

how many of them are not natural born Thais at all

All of the top 20 are Thai Chinese peoples..... surprise surprise..

Number 6 on the list is of Indian decent and number 23 of white American.

[Richard4849]

Yes, for starters. Some of the others I also question whether they are fully Chinese.

No. 6 isn't even a Thai citizen...just a PR.

I think you might be able to make a case for Thailand being the no. 1 country in the world for immigrant prosperity, based on this list.

In spite of how "xenophobic" many people here seem to think Thais are.

[soundman]

No speculation on Monarchy, Royal family please.

[lannarebirth]

I hope Pete doesn't get any richer, or he's bound to get Monsoned.

[osiboy]

TAX THEM .......QUICKLY !!

[EyesWideOpen]

The Chinese came to Thailand in the late 1800s and early 1900s. The result is what we see today, which is something akin to letting a fox have a free run in the chicken coop......

Edited August 31, 2011 by rhiekel

[Gary A]

Do you think they can afford to pay their employees 300 baht per day? I'd bet they don't now.

[DP25]

Do you think they can afford to pay their employees 300 baht per day? I'd bet they don't now.

Now that the people's revolution is in power and the rich elite has been thrown out I'm sure they'll have to and on top that they'll be getting a tax raise too

[JurgenG]

The Chinese came to Thailand in the late 1800s and early 1900s. The result is what we see today, which is something akin to letting a fox have a free run in the chicken coop......

Actually they were asked to come.

The elite didn't want to work, only jobs in the administration were deemed suitable for them. The peasants were not allowed out of their fields.

In some museums (in Chanthaburi for example) one can see copy of old advertisements asking Chineses to come to work in Thailand.

Edited September 1, 2011 by JurgenG

[EyesWideOpen]

According to this news out of China, it appears much safer to be a Thai-Chinese billionaire than to be simply a Chinese billionaire.....

China Daily reported Friday that unnatural deaths have taken the lives of 72 mainland billionaires over the past eight years. (Do the math.)

Which means that if you’re one of China’s 115 current billionaires, as listed on the 2011 Forbes Billionaires List, you should be more than a little nervous.

Mortality rate notwithstanding, what’s more disturbing is how these mega wealthy souls met their demise. According to China Daily, 15 were murdered, 17 committed suicide, seven died from accidents and 19 died from illness. Oh, yes, and 14 were executed. (Welcome to China.)

[TAWP]

Coming at No. 19 is former premier Thaksin Shinawatra and family, up four spots from last year. The Shinawatra's fortune is up 53 per cent to $600 million, thanks to a stock split and doubling of share price of his family's real estate development firm, SC Asset. Thaksin who advised younger sister, Yingluck, on her election campaign, has $2 billion in assets frozen by Thai authorities following the family's 2006 sale of Shin Corp., the telecom group he founded.

So that would put him at 2.6 billion USD - place 5 on the list.

Once they return the money he had his hands on.

[TAWP]

In any case, it does show that foreigners CAN get ahead in Thailand and that the "old guard" does NOT have a lock on upward mobility.

Well, not really.

While the Chinese immigrants was 'forced' to become Thai (see the long, taken, Thai surnames?) they a mere 2 generations used their newly founded power to make sure they would not be threatened by other immigrants coming later. You are expecting them to let go and welcome us in in the same way now?