Thaksin Is The 4th Richest Man In Thailand

[Jai Dee]

Thaksin 4th richest man in Thailand

Caretaker Prime Minister Thaksin Shinawatra is the country's fourth richest businessman, with a fortune worth US$2.2 billion (Bt84.12 billion), Forbes magazine said Monday.

The 56-year-old billionaire, who took office in 2001, founded telecom giant Shin Corp, which includes the top mobile phone operator, satellite services and a stake in a budget airline.

His family in January sold a nearly 50-per-cent stake in Shin Corp and earned $1.9 billion under a tax-free deal.

Thailand's richest businessman is Charoen Sirivadhanabhakdi, the owner of Thai Beverage, with his fortune worth $3.2 billion, Forbes said.

The Thai brewer produces Chang Beer, which listed in Singapore in May due to strong opposition at home from anti-alcohol activists. The listing was Singapore's biggest initial public offering since 1993.

The second richest businessman, according to Forbes, is Chaleo Yoovidhya, who created the formula for energy drink Red Bull.

Source: The Nation - 18 July 2006

[Scott]

That is a lot of money in the hands of a few individuals. Only one of them seems to create much of a problem, however.

[stumonster]

and I thought he divested himself of all the shares - to his maid , chauffer and garden gnome - in 2001 .

[Old Man River]

and I thought he divested himself of all the shares - to his maid , chauffer and garden gnome - in 2001 .

Very good point. I wonder how Fortune Mag came up with their numbers?

[soic]

I'd say that he didn't get where he is by being stupid. He probably divested his shares to those individuals with agreements that he would get hem back at a later date. I mean no one is going to be so stupid as to give away his wealth to run for office. It is possible to put them somewhere, that prevents you from profiting from them while in office, but still giving up the control over them. Kind of like giving your car keys to a sober friend when you go out drinking. You're not giving him the car forever, he's merely making sure that you don't use the car while drinking. The same could be said for divesting stock while in office. You can buy them or trade them, or profit from them, due to your position in the government. An example of that problem was Hillary and Bill Clinton, he put her in charge of some of the medical legislation, then when she brought up her health plan, and anti-herbal legislation, she cashed out on her pharmaceutical stocks.

and I thought he divested himself of all the shares - to his maid , chauffer and garden gnome - in 2001 .

Very good point. I wonder how Fortune Mag came up with their numbers?

[Sandstone Art]

Should be Thailand's RICHEST FAMILY with all the combined wealth from young daughters and son and wife and also as mentioned, family maids , driver and gardener etc.

[giffarine]

Already common practice all Thailand politicians did. Also they don’t have buy most expensive things. There’s a Thai saying “those who buy don’t use, those who uses don’t have to buy” Presents!

[Old Man River]

I'd say that he didn't get where he is by being stupid. He probably divested his shares to those individuals with agreements that he would get hem back at a later date. I mean no one is going to be so stupid as to give away his wealth to run for office. It is possible to put them somewhere, that prevents you from profiting from them while in office, but still giving up the control over them. Kind of like giving your car keys to a sober friend when you go out drinking. You're not giving him the car forever, he's merely making sure that you don't use the car while drinking. The same could be said for divesting stock while in office. You can buy them or trade them, or profit from them, due to your position in the government.

and I thought he divested himself of all the shares - to his maid , chauffer and garden gnome - in 2001 .

Very good point. I wonder how Fortune Mag came up with their numbers?

Soic, of course, that is all well understood. The point is that there are a lot of special interest groups which would like to know when the actual transfer back to the PM took place and at what price. The bottom line is, of course, that we will never know. Fortune Mag would have simply made an assumption that the PM has publicly sworn is not true.

[SamuiJens]

4 richest won't do, he want to be at least in the top 3, preferably#1!!!