Dhanin Remains Thailand's Wealthiest On Forbes List

[webfact]

WEALTH

Dhanin remains Thailand's wealthiest

The Nation

Dhanin Chearavanont

BANGKOK: -- Charoen Pokphand Group's Dhanin Chearavanont retains top spot of Thailand's 40 Richest on Forbes list, with US$9 billion in net worth.

Along with him, others making up the 40 richest list showed the collective wealth of $55 billion which went up by 22 per cent from $45 billion in the previous year, according to Forbes Magazine.

"For the second year in a row, Thailand's richest people have done remarkably well, seeing a more than 20 per cent rise in their collective wealth. Some of the country's top business leaders have also dominated the headlines with their expansion plans in Southeast Asia and beyond," the magazine said.

No. 3 on the list, Charoen Sirivadhanabhakdi, whose company - Thai Beverage, the country's largest brewer and distiller - has been aggressively bidding for Asia Pacific Breweries. His net worth went up by $1.4 billion to $6.2 billion this year.

Others are looking to take on international rivals on the strength of an expected 6 per cent growth in the Thai economy this year, lower taxes and a firm stock market. Those expanding abroad include Kraisorn Chansiri (No. 25, $545 million), whose Thai Union Frozen Products is on a foreign-acquisition spree, and Aloke Lohia (No. 8, $1.6 billion), who is starting one of the

first polyethylene terephthalate businesses in Africa.

Dhanin Chearavanont retains his top spot as the country's wealthiest. The leader at the helm of agribusiness conglomerate, Charoen Pokphand Group, boasts an estimated net worth of $9 billion, up $1.6 billion from last year. Over the past year, the stock price of the world's third-biggest operator of 7-Eleven stores, CP All, grew 27 per cent, while his food producers, Charoen Pokphand Foods and PT Charoen Pokphand, also fared well.

The Chirathivat family saw its fortune increase by 60 per cent to $6.9 billion as they moved up two places to No. 2. The descendants of Central Group's late founder, Tiang Chirathivat, share a fortune which is largely derived from their ownership of Central Retail and Central Pattana.

Medical tourism added two new comers to the list: Chalerm Harnphanich (No. 33), who created a $285 million fortune with his Bangkok Chain Hospital, and Wichai Thongtang (No. 20), who saw his net worth climb to $670 million following the merger of his Phyathai Hospital Group with Bangkok Dusit Medical in 2011. The 50 per cent uptick in shares of Bangkok Dusit Medical Services also added to the fortunes of 2 other listees, Prasert Prasarttong-Osoth (No. 9, $1.2 billion), and Pongsak Viddayakorn (No. 27, $400 million).

This year's list includes two returnees: Phornthep Phornprapha & family (No. 17), who own the Siam Motors conglomerate, have an estimated fortune of $900 million, and Paiboon Damrongchaitham (No. 40) with a wealth of $200 million. Dubai-based Thaksin Shinawatra, the former premier and brother to Prime Minister Yingluck Shinawatra, ranks number 23 on the list with wealth of $600 million.

The list was compiled using shareholding and financial information obtained from the families and individuals, stock exchanges, analysts and Thailand regulatory agencies. Public fortunes were calculated based on stock prices and exchange rates as of Aug 20. Private companies were valued based on similar companies that are publicly traded.

The minimum net worth needed to make this year's list was $200 million.

The top 40 richest in Thailand are:

1) Dhanin Chearavanont; US$9 billion

2) Chirathivat family; $6.9 billion

3) Charoen Sirivadhanabhakdi; $6.2 billion

4) Yoovidya family; $5.4 billion

5) Krit Ratanarak; $3.1 billion

6) Chamnong Bhirombhakdi & family; $2.4 billion

7) Vichai Maleenont & family; $1.8 billion

8) Aloke Lohia; $1.6 billion

9) Prasert Prasarttong-Osoth; $1.2 billion

10) Vanich Chaiyawan; $1.16 billion

11) Thongma Vijitpongpun, $1.1 billion

12) Isara Vongkusolkit & family, $1 billion

13) Boonchai Bencharongkul, $990 million

14) Praneetsilpa Vacharapol, $950 million

15) Surang Prempree, $930 million

16) Prayudh Mahagitsiri, $915 million

17) Phornthep Phornprapha & family, $900 million

18) Anant Asavabhokin, $840 million

19) Keeree Kanjanapas, $810 million

20) Wichai Thongtang, $670 million

21) Sunsurn Jurangkool & family, $650 million

22) Somporn Juangroongruangkit, $610 million

23) Thaksin Shinawatra & family, $600 million

24) William E. Heinecke, $560 million

25) Kraisorn Chansiri, $545 million

26) Chamroon Chiinthammit & family, $500 million

27) Pongsak Viddayakorn, $400 million

28) Nishita Shah Federbush & family, $350 million

29) Worawit Weeraborwornpong, $310 million

30) Vicha Poolvaraluck, $305 million

31) Prateep Tangmatitham, $300 million

32) Pete Bodharamik, $295 million

33) Chalerm Harnphanich, $285 million

34) Niti Osathanugrah, $280 million

35) Roongroj Saengsastra & family, $260 million

36) Chalerm Yoovidhya, $250 million

37) Vichai Raksri-aksorn, $240 million

38) Porndee Leeissaranukul & family, $235 million

39) Prachai Leophairatana & family, $225 million

40) Paiboon Damrongchaitham, $200 million

More information on www.forbes.com/thailand and September’s issue of Forbes Magazine.

-- The Nation 2012-08-30

[bigbamboo]

You see, the PTP didn't lie. They said people would be richer this year and here's the proof.

[givenall]

You see, the PTP didn't lie. They said people would be richer this year and here's the proof.

i guess he meant by people are themselves only not the rest of Thailand

[whybother]

23) Thaksin Shinawatra & family, $600 million

23a) Thaksin Shinawatra's family's maids and drivers, $xxx million.

[Unkomoncents]

Thaksin said in an interview last week that he only had one million left (and not the $600 reported by Forbes), but I don't criticize those who tell "white lies".

[pointoffew]

This confirms what we already knew: most rich people - in particular the excessively rich - keep getting richer, while the poor continue to struggle to make ends meet. Yellow, green or red, no Thai government really has the power - or is even willing - to address the issue of the unsustainably wide income gap.

Think about it... If an increase of the lowest wages would be fully absorbed by the 1% richest people, such a pay rise would not cause ANY inflation. At the same time, consumption - and GDP - would immediately increase, because those with the lowest wages will still have little if any saving power, even if their wages would rise substantially.

Unfortunately, it is unthinkable that the richest will voluntarily give up even a small slice of the excessive wealth they earned and keep earning on the back of others.

[bigbamboo]

Thaksin said in an interview last week that he only had one million left (and not the $600 reported by Forbes), but I don't criticize those who tell "white lies".

To hear Putin talk you'd think he hardly had a pot to piss in.

Many in the know calculate he's one of the world's richest men.

[clockman]

Whats the betting, that most of them are Sino Thai?

[scotbeve]

This confirms what we already knew: most rich people - in particular the excessively rich - keep getting richer, while the poor continue to struggle to make ends meet. Yellow, green or red, no Thai government really has the power - or is even willing - to address the issue of the unsustainably wide income gap.

Think about it... If an increase of the lowest wages would be fully absorbed by the 1% richest people, such a pay rise would not cause ANY inflation. At the same time, consumption - and GDP - would immediately increase, because those with the lowest wages will still have little if any saving power, even if their wages would rise substantially.

Unfortunately, it is unthinkable that the richest will voluntarily give up even a small slice of the excessive wealth they earned and keep earning on the back of others.

Funny you mention the "colors" as the usual diatribe from the pro-elitists posters slag the usual colors. Looking at the list, there are more "yellows" than "reds" - period.

[rubl]

Interesting. Looking at the list, I don't see yellow, red, orange or green. I see families with a lot of money. Same like many other countries where similar lists are mostly dominated by the same families over and over again. One might become a real lefty seeing that especially in times of financial hardship the rich get richer and the poor poorer. In this totally colour independent it seems

[pointoffew]

This confirms what we already knew: most rich people - in particular the excessively rich - keep getting richer, while the poor continue to struggle to make ends meet. Yellow, green or red, no Thai government really has the power - or is even willing - to address the issue of the unsustainably wide income gap.

Think about it... If an increase of the lowest wages would be fully absorbed by the 1% richest people, such a pay rise would not cause ANY inflation. At the same time, consumption - and GDP - would immediately increase, because those with the lowest wages will still have little if any saving power, even if their wages would rise substantially.

Unfortunately, it is unthinkable that the richest will voluntarily give up even a small slice of the excessive wealth they earned and keep earning on the back of others.

Funny you mention the "colors" as the usual diatribe from the pro-elitists posters slag the usual colors. Looking at the list, there are more "yellows" than "reds" - period.

The list likely consists for > 90% of Yellow shirts - or neck ties. What I mean is that, regardless of the colour of the government / regime Thailand is under, nothing will change, simply because those in power invariably lack the will - and power - to tackle this outrageous wealth gap.

[pointoffew]

Note that the BP does not allow the same (first) comment made by my here.

[kinmaew]

This confirms what we already knew: most rich people - in particular the excessively rich - keep getting richer, while the poor continue to struggle to make ends meet. Yellow, green or red, no Thai government really has the power - or is even willing - to address the issue of the unsustainably wide income gap.

Think about it... If an increase of the lowest wages would be fully absorbed by the 1% richest people, such a pay rise would not cause ANY inflation. At the same time, consumption - and GDP - would immediately increase, because those with the lowest wages will still have little if any saving power, even if their wages would rise substantially.

Unfortunately, it is unthinkable that the richest will voluntarily give up even a small slice of the excessive wealth they earned and keep earning on the back of others.

[kinmaew]

Thailand has a lot of wealth and its very clear none of them pay enough tax and get away with it because if they paid their fair share, Thailand would provide a better lifestyle for the working poor. People like the above rich and that minister who urged Thai women to "Mary a farang for an easier life" want to see people leave because its makes it easier for them to get on with their business of getting richer and taking as much of the pie as they like, and of course keeping foreigners out of doing business, owning land etc.

But Thais are born into subservience so this will continue for a long time.

[Ricardo]

Thaksin said in an interview last week that he only had one million left (and not the $600 reported by Forbes), but I don't criticize those who tell "white lies".

It was probably just another 'honest mistake' ?

Some 14 months ago, in an interview in Dubai in June-2011 with Thilo Thielke of Der Spiegel , Mr Thaksin said "I have less than half as much money as I had at the start of the1990s; barely a billion".

Oh Dear ! From "barely a billion", to only $600 million, in just 14 months !

Things must be going badly with his "gold mines in Uganda" and "platinum and coal in South Africa and Zimbabwe and Tanzania.", where he views investment conditions in Africa as being "ideal for a newcomer like me", as "many big investors are reluctant to get involved because they are scared of the political instability".

Perhaps those more-experienced big investors knew what they were doing after all ?

[SGD]

Strange that the head of the list is absent and rather conspicuously.

[osiboy]

vive le revolution ............off with their gready heads the lot of them !...........i would'nt p*ss on the selfish b*stards if they were on fire , these amounts of money are obscene when people die of hunger every minute , .......i saw a list of countries that donate to the needy a few months ago, ........thailands donations were a joke,................they must be so proud !.Ironically if you were to mistake one of them in a resteraunt and give them a 20b tip they would take it without a second thought.

Edited September 25, 2012 by osiboy

[Thai at Heart]

Interesting. Looking at the list, I don't see yellow, red, orange or green. I see families with a lot of money. Same like many other countries where similar lists are mostly dominated by the same families over and over again. One might become a real lefty seeing that especially in times of financial hardship the rich get richer and the poor poorer. In this totally colour independent it seems

The thai companies have a business model that relies on 150 baht a day. Except dhanin, he makes so much he supports 300.

[yoslim]

I always thought my thai wife's dad was really rich, thank you Forbes for this useful piece of information