Thailand's 50 Richest 2016: Growth Pangs Spur Tycoons To Go On A Buying Binge

[beautifulthailand99]

That list is incorrect. That, I know. For a fact. Several (smart) people don't appear on it and thus keep a low profile and a target off their back.

Yes there is always at least one missing.

[optad]

There are five energy drink producers before the first teleco guy on that rich list [ #38].

What does that mean for my portfolio?

[koolkarl]

In western countries, the very wealthy donate a lot of money to charities, colleges, health care research,etc. They give most back to the people.

I have been in this country some time and have never noticed wealthy Thais doing any of the previously mentioned.

I visit a major university regularly and the books are so old that the pages fall out. Not 1 baht received as a donation.

And I trust the Thai tax department is being vigilant in their duties.

You should know that there are prohibitions against anyone contributing too much money, say, to build schools or other facilities in villages. Above a certain amount, any money must be approved, licensed, and supervised by the government.

Can you elaborate on this and show us some evidence?

It's hard to believe because in a small school outside Hua Hin a Multipurpose Hall and a classroom building have just been built entirely financed from private donations. Cost over 11 million baht. So I just wonder...

11 million is peanuts. Show me an example comparable to Warren Buffet or Bill Gates donations.

[mike324]

Gee, with a mall every 500m it's becoming hard to fill them? Who would have thought.

10 big cranes are working on the Icon development just across from River City: the floor space in it is enormous and one wonders who will buy the 300,000 psm condos above. Embassy Mall is doing it really tough ....but then again who is going to buy famous enough brand hifi @ x2 the retail price overseas, eg sound link 3 speaker for 12000B? Or shoes at Central for $200. Most people in Europe don't spend that kind of money : the most popular brand, made in Poland , sold throughout Europe for 30-50. But you will never see them for sale in Thailand.

There are people in Europe that spend that kind of money, its just that you don't know them! and you are more frugal! How else would all the European name brands survived if it weren't for the Europeans buying them in the first place, making it popular and a global brand.

Mind you that prime location apartments/houses cost a lot more in Europe than in Thailand. Prime location property in Bangkok is actually cheap if you compare Bangkok being a developed and international city. High-end housing in Thailand is relatively cheap for those high income folks. Whats more is that, all these high-income folks did not have a place to splash their cash for fancy apartments in the past, it was only the last 10 years where they started building high end condos. So expensive condos are effected by the economy less so than mid to low range condos.

Your analogy is the same as not finding a Japanese brand in Europe, but it is found all over Asia.

If you have lived or travel to many other Asian countries, you will find that all these imported items that you mention cost a lot more compare to Europe or the US. Most people in Europe and America are fortunate to be able to afford nicer things at a cheaper cost.

[Usual Suspect]

In Issan, near the wife's family village there's an Ice making company..small complex, many,many small trucks..The boss is known all around the area..not for folk seeing him as a Big-Wig cruising around in his new sports car, but for his constant donations & help to local schools etc..& any inter-village football events nearly always sees him there to both cheer-on the teams & sponsor the prizes.

This man IMO is one of the good guys..& yes it does suprise me..I thought all Thai business men were selfish <deleted>.

[mike324]

In western countries, the very wealthy donate a lot of money to charities, colleges, health care research,etc. They give most back to the people.

I have been in this country some time and have never noticed wealthy Thais doing any of the previously mentioned.

I visit a major university regularly and the books are so old that the pages fall out. Not 1 baht received as a donation.

And I trust the Thai tax department is being vigilant in their duties.

You should know that there are prohibitions against anyone contributing too much money, say, to build schools or other facilities in villages. Above a certain amount, any money must be approved, licensed, and supervised by the government.

Can you elaborate on this and show us some evidence?

It's hard to believe because in a small school outside Hua Hin a Multipurpose Hall and a classroom building have just been built entirely financed from private donations. Cost over 11 million baht. So I just wonder...

I friend of mine has donated money to build two schools in Northern Thailand in remote areas, each cost couple million. It was all financed by himself. There is no prohibitions against contributing too much money, but yes it needs to be approved by the local district folks which isn't a problem. Many of the remote areas barely have any education budget, it would be very rare that they would deny your contribution.

[oxo1947]

62 people------------62

own half of the worlds money----before you get to excited about the Thai's...none of them made that list.

And All I ask is a chance to prove that money can't make me happy.

Richest 62 people as wealthy as half of world's population, says Oxfam

1 Bill Gates $79.2bn Microsoft United States

2 Carlos Slim Helu $77.1bn telecom Mexico

3 Warren Buffett $72.7bn Berkshire Hathaway United States

4 Amancio Ortega $64.5bn Zara Spain

5 Larry Ellison $54.3bn Oracle United States

6 Charles Koch $42.9bn diversified United States

6 David Koch $42.9bn diversified United States

8 Christy Walton $41.7bn Wal-Mart United States

9 Jim Walton $40.6bn Wal-Mart United States

10 Liliane Bettencourt $40.1bn L'Oreal France

11 Alice Walton $39.4bn Wal-Mart United States

12 S. Robson Walton $39.1bn Wal-Mart United States

13 Bernard Arnault $37.2bn LVMH France

14 Michael Bloomberg $35.5bn Bloomberg LP United States

15 Jeff Bezos $34.8bn Amazon.com United States

16 Mark Zuckerberg $33.4bn Facebook United States

17 Li Ka-shing $33.3bn diversified Hong Kong

18 Sheldon Adelson $31.4bn casinos United States

19 Larry Page $29.7bn Google United States

20 Sergey Brin $29.2bn Google United States

21 Georg Schaeffler $26.9bn ball bearings Germany

22 Forrest Mars, Jr. $26.6bn candy United States

22 Jacqueline Mars $26.6bn candy United States

22 John Mars $26.6bn candy United States

25 David Thomson $25.5bn media Canada

26 Jorge Paulo Lemann $25bn beer Brazil

27 Lee Shau Kee $24.8bn real estate Hong Kong

28 Stefan Persson $24.5bn H&M Sweden

29 George Soros $24.2bn hedge funds United States

29 Wang Jianlin $24.2bn real estate China

31 Carl Icahn $23.5bn investments United States

32 Maria Franca Fissolo $23.4bn Nutella, chocolates Italy

33 Jack Ma $22.7bn e-commerce China

34 Prince Alwaleed Bin Talal Alsaud $22.6bn investments Saudi Arabia

35 Steve Ballmer $21.5bn Microsoft United States

35 Phil Knight $21.5bn Nike United States

37 Beate Heister & Karl Albrecht Jr. $21.3bn supermarkets Germany

38 Li Hejun $21.1bn solar power equipment China

39 Mukesh Ambani $21bn petrochemicals, oil & gas India

40 Leonardo Del Vecchio $20.4bn eyeglasses Italy

41 Len Blavatnik $20.2bn diversified United States

41 Tadashi Yanai $20.2bn retail Japan

43 Charles Ergen $20.1bn Dish Network United States

44 Dilip Shanghvi $20bn pharmaceuticals India

45 Laurene Powell Jobs $19.5bn Apple, Disney United States

46 Dieter Schwarz $19.4bn retail Germany

47 Michael Dell $19.2bn Dell United States

48 Azim Premji $19.1bn software India

49 Theo Albrecht, Jr. $19bn Aldi, Trader Joe's Germany

50 Michael Otto $18.1bn retail, real estate Germany

51 Paul Allen $17.5bn Microsoft, investments United States

52 Joseph Safra $17.3bn banking Brazil

53 Anne Cox Chambers $17bn media United States

54 Susanne Klatten $16.8bn BMW, pharmaceuticals Germany

55 Pallonji Mistry $16.3bn construction Ireland

56 Ma Huateng $16.1bn internet media China

57 Patrick Drahi $16bn Telecom France

58 Thomas & Raymond Kwok $15.9bn real estate Hong Kong

59 Stefan Quandt $15.6bn BMW Germany

60 Ray Dalio $15.4bn hedge funds United States

60 Vladimir Potanin $15.4bn metals Russia

62 Serge Dassault $15.3bn aviation France

Edited June 3, 2016 by oxo1947

[cracker1]

That list is incorrect. That, I know. For a fact. Several (smart) people don't appear on it and thus keep a low profile and a target off their back.

You are probably well informed but speak the obvious.

[tuanku]

Thailand's richest is on the wane,no amount of money can buy health and longevity I'm afraid.

I think you are quite wrong, Many of Thailands richest know how to diversify, many have business interests overseas that complement their existing trade. Many are becoming or already a global brand.

stoneyboy's post went over your head. Read again.

[mike324]

Thailand's richest is on the wane,no amount of money can buy health and longevity I'm afraid.

I think you are quite wrong, Many of Thailands richest know how to diversify, many have business interests overseas that complement their existing trade. Many are becoming or already a global brand.

stoneyboy's post went over your head. Read again.

yup got it, misread and misinterpret, that applies to any richest around the world not just Thailand

[kareona]

Thaksin enjoyed spectacular growth in his fortune whilst PTP were in office. Now it seems to have stagnated since they were replaced.

The world financial markets and economics must be in bad shape then, if even the genius inventor of Thaksinomics can't make a bob or two more

You are so wrong. Thaksin's fortune doubled between 2001 and 2006. His money was for the most part in stocks and the value of the stockmarket doubled between 2001 and 2006, even some more for electronics. If Thaksin would have been growing mushroom in that time he would have been as rich.