Richest 1 percent of Thais own 58 percent of country’s wealth

[JAG]

God yes I bet we can.   Seen some funny things too.  Rod Stewart comes to mind   Love Hong Kong.  Always stop over for a few days on my way from London To Bangkok

You go the long way round?

[digibum]

14 minutes ago, Banana7 said:

There is a huge difference between Thai rich and Western rich. I am not aware of any Thai rich people with charities educating Thais. Many colleges and Universities in Thailand have little or no scholarships or bursaries or grants available to the best academic achievers in the institution.

 

 

 

Very true.  

 

I was always surprised by that.  Other than giving money to temples, not a lot of philanthropy in Thailand.  

[seancbk]

4 minutes ago, digibum said:

 

 

Very true.  

 

I was always surprised by that.  Other than giving money to temples, not a lot of philanthropy in Thailand.  

There is some, and I'm sure there is a lot more that just isn't reported (same in the West).
 

Boonchai Benjarongkul 59
FOUNDED CELLPHONE NETWORK TOTAL ACCESS COMMUNICATION.

Devotes himself to supporting education and culture since selling control of the company in 2005. This year plans to open the Thai Contemporary Art Museum in Bangkok, an $8.4 million showcase for his collection of modern Thai painting, sculpture and miniatures that will be the nation’s largest privately funded museum.

Tan Passakornnatee 51

SOLD HIS OISHI GREEN TEA DRINKS AND JAPANESE RESTAURANTS AND NOW BOASTS JAPANESE-THEMED NOODLE SHOPS AND DRINKS UNDER HIS NEW MAI TAN BRAND.

Pledges half his net profit to his Tan Pan Foundation, which works to improve education, the environment and tourism. Gave $67,000 from his TV appearances with a standup comic for new buildings at Bor Thong Kindergarten in Chonburi, his hometown. Contributed to Japanese earthquake relief and raised more money via his restaurants and Facebook fan page for a total of $143,000.

Bilaibhan Sampatisiri 60

CHAIRS THE FAMILY-OWNED NAI LERT PARK HOTEL CO.

As president of the Siam Society she’s helping lead efforts to conserve the nation’s fast-disappearing architectural heritage. Also serves as president of a Thai fund involved in protecting wild elephants. Runs the Lert Sin Foundation, which supports health care and education and is funded from the legacy of her grandfather, who built real estate, retailing and transport businesses.

Thongma Vijitpongpun 53

HEADS THE PRUKSA REAL ESTATE EMPIRE.

Donated some $660,000 to hospitals, Buddhist organizations and schools in 2010 and 2011. A civil engineer by training, he’s channeled most of his education-related giving into the engineering field.

[DaveE13]

9 minutes ago, JAG said:

You go the long way round?

Live and work most of the time in London.

Go Thailand maybe for 3 or 4 months a year

[Banana7]

5 minutes ago, seancbk said:

There is some, and I'm sure there is a lot more that just isn't reported (same in the West).
 

Boonchai Benjarongkul 59
FOUNDED CELLPHONE NETWORK TOTAL ACCESS COMMUNICATION.

Devotes himself to supporting education and culture since selling control of the company in 2005. This year plans to open the Thai Contemporary Art Museum in Bangkok, an $8.4 million showcase for his collection of modern Thai painting, sculpture and miniatures that will be the nation’s largest privately funded museum.

Tan Passakornnatee 51

SOLD HIS OISHI GREEN TEA DRINKS AND JAPANESE RESTAURANTS AND NOW BOASTS JAPANESE-THEMED NOODLE SHOPS AND DRINKS UNDER HIS NEW MAI TAN BRAND.

Pledges half his net profit to his Tan Pan Foundation, which works to improve education, the environment and tourism. Gave $67,000 from his TV appearances with a standup comic for new buildings at Bor Thong Kindergarten in Chonburi, his hometown. Contributed to Japanese earthquake relief and raised more money via his restaurants and Facebook fan page for a total of $143,000.

Bilaibhan Sampatisiri 60

CHAIRS THE FAMILY-OWNED NAI LERT PARK HOTEL CO.

As president of the Siam Society she’s helping lead efforts to conserve the nation’s fast-disappearing architectural heritage. Also serves as president of a Thai fund involved in protecting wild elephants. Runs the Lert Sin Foundation, which supports health care and education and is funded from the legacy of her grandfather, who built real estate, retailing and transport businesses.

Thongma Vijitpongpun 53

HEADS THE PRUKSA REAL ESTATE EMPIRE.

Donated some $660,000 to hospitals, Buddhist organizations and schools in 2010 and 2011. A civil engineer by training, he’s channeled most of his education-related giving into the engineering field.

4 people out of 600,000 - that is pathetic! There certainly should be at least 10,000 times more.

 

Over 60,000,000 people in Thailand. 1% is 600,000, wealthy, in the total population controlling or owning 58% of the countries wealth.

 

 

 

[ratcatcher]

3 hours ago, dhream said:

Before you get too far off topic, have a look at recent history, the history that's been banned at 'home', including wiki leaks of US ambassadors cables. You will be very surprised at how precarious the status quo is here. Why do you think the junta are trying to turn the nation into North Korea? They may have the tanks, but they are terrified of the masses.

You are falling for the junta delusion that if you shut down dissent, and promote a vision of universal devotion, you've solved the problem. Big mistake.

I understand your point and agree,   but we are against a brick wall when discussing anything related to you know what.

In 1789, the man who lost his head in Paris was reviled, not loved by the masses. There is no guarantee that devotion will continue to be universal in LOS.

[Get Real]

Okey. The population is about 67,5 million people. That will mean that it´s at least 675 000 people that share the 58 percent of the dough.
Sounds much better than the 1 percent....or not!

[seancbk]

9 minutes ago, Banana7 said:

20 minutes ago, seancbk said:

There is some, and I'm sure there is a lot more that just isn't reported (same in the West).
 

 

4 people out of 600,000 - that is pathetic! There certainly should be at least 10,000 times more.

 

Over 60,000,000 people in Thailand. 1% is 600,000, wealthy, in the total population controlling or owning 58% of the countries wealth.

I've edited out most of my post so you can read where I said " I'm sure there is a lot more that just isn't reported (same in the West)."

Are there 600,000 wealthy people in the UK all handing over significant portions of their wealth to charities? 

Don't forget also that large amounts of the wealth these people hold in Thailand (and anywhere really) is in Land, Buildings, Machinery etc not in cash they can just hand out.

Mostly however, philanthropy is just not reported as people usually give anonymously, to avoid being barraged by people wanting a handout themselves.
 

[soalbundy]

4 hours ago, Eric Loh said:

 

If you looked up the history of the top richest men, you will find the common theme that these men were penniless when they started and they work hard like mules and horses to get to where they are.

Some of them like Dhanin Chearavanot (CP Gp) started poor selling seeds and agriculture chemicals. Charoen Sirivadhanabhaki was 6th of 11 kids started as a street vendor. Tos Chirathivat (Central Gp) father open a small shopping center and Chalerm  Yoovidhya (Red Bull) raise ducks and later was a antibotic saleman. 

I don't grudge them for the wealth they have now as they have worked their lives to get to where they are now. I agree with Ezzra that those who got wealthy through other means are should be condemned like those in the RTP and RTA.

I can see what you are getting at but with the hard work comes luck, for every 100K of hard working free lancers one will get lucky and then he needn't do the hard graft anymore he can buy the graft from the horses and mules. Many will just inherit like Donald

[flyingdoc]

I thought that BRICS was the first step in this new procedure of adjustment?

[Psimbo]

So- very similar to most countries in the world- a bit of a non-story.

[Moonmoon]

its ok. Election or not. the 1 percent is the only voice that matters here. 

[Dogmatix]

And most likely the percentage they own is understated.

[dhream]

4 hours ago, seancbk said:

Large corporations such as CP group put a lot into CSR.   The notion that these conglomerates are run by robber barons taking advantage of the poor is very wrong.

http://www.cpfworldwide.com/en/sustainability/policy

 

I did you the courtesy of following the link.

I am well aware people like Gates and Buffet do enormous good, I'm just saying it's not as prevalent in Asia, and yet the graft is almost a second economy, if not THE economy.

So I was more miffed about impossibly wealthy individuals on the take here, not necessarily aiming at corporations.

Of course, one cannot name names on mere suspicion.

They have more money to pursue defamation cases than I will ever have. But they're all gonna eventually end up just as dead as me too, so that's some comfort.

[MartinL]

9 hours ago, tails said:

How do most of the foreigners contribute more tax than local Thais? While I do realise many Thais pay little or no tax, I would have thought most foreigners were either retired, a tourist or working illegally and therefore not paying tax at all...

 

9 hours ago, nchuckle said:

You don't understand indirect tax then. Far more VAT through higher value of purchases is paid by foreigners.

 

For Thailand's Tax Year 2557 (2014), VAT (an indirect tax) accounted for 41.13% of the TOTAL tax take, more than 2 1/2 times the Personal Income Tax take which accounted for 16.24%. 

Source;  http://download.rd.go.th/fileadmin/download/annual_report/annual_report57.pdf  -- Table p. 94.

Edited November 30, 2016 by MartinL

[Grubster]

13 hours ago, bra said:

Someone (?) once said that if you divided the world's total wealth into equal proportions for everyone on earth, inside  of 10 years the proportions of ownership would be much the same as seen now in Thailand, Russia etc. The rich will get richer due to business acumen and/or corruption, and the poor will get poorer due to bad investments and lack of proper governance.

It would happen but it would take more like 100 years to get back to this level.

[Grubster]

10 hours ago, tails said:

These kinds of stats have and always be here, plus will probably get worse... the only thing us normal people can do is vote with our wallets. We all make hundreds of small decisions all the time on which shop to go to, which brand to buy etc. Sure this is only one part of the issue, but hey... focus on what can be controlled...

I think the biggest problem is that now that the top one percent have this much wealth, they now control all the governments. No chance of getting beyond that now as the snowball is getting bigger faster and rolling downhill much faster.  I see really bad things in the future, but my crystal ball is getting a lot older.

[mark45y]

2 hours ago, Psimbo said:

So- very similar to most countries in the world- a bit of a non-story.

Britain’s richest households have pulled further ahead of the rest of the population as house prices have accelerated, with the top 10% now owning almost half of the country’s £11.1tn total private wealth.

 

https://www.theguardian.com/money/2015/dec/18/britain-private-wealth-owned-by-top-10-of-households

[Banana7]

6 hours ago, seancbk said:

I've edited out most of my post so you can read where I said " I'm sure there is a lot more that just isn't reported (same in the West)."

Are there 600,000 wealthy people in the UK all handing over significant portions of their wealth to charities? 

Don't forget also that large amounts of the wealth these people hold in Thailand (and anywhere really) is in Land, Buildings, Machinery etc not in cash they can just hand out.

Mostly however, philanthropy is just not reported as people usually give anonymously, to avoid being barraged by people wanting a handout themselves.
 

As others have stated there is very little philanthropy  from the top 1 %. It's very easy to avoid being barraged by people wanting handouts: 1. just tell them you selected others this year and there is no more handouts this year; 2. contact my trust/charity/foundation, it is all handled through them.

 

I doubt there is little truth that the top 1% give anonymously or anyone else.

 

Virtually every University and College in the Western world has scholarships/grants/bursaries from the richer citizens, because education and intelligence is highly supported in the Western world. I don't see that support from top 1% in Thailand, because many educational institutes don't get any financial support from the top 1% in Thailand or any support from the other 99% of Thais either.

 

 

 

Edited November 30, 2016 by Banana7

[Trouble]

12 hours ago, seancbk said:

Well said.  

Another example is Hong Kong's Li Ka Shing who used to be the richest man in Asia.  He was forced to leave school at 15 to support his family after his father died, but went from there to becoming super rich through hard work.

There are of course many more.

I admire people who work hard, take risks and become rich.   
 

 

Well said.  Most people who get rich do indeed take risks. Many fail but many succeed and become rich.  They work hard, work smart, pay their taxes and are often condemned by many as we see in this thread.  Sour grapes is how I see it.  

[anotheruser]

14 hours ago, bitcoinforever said:

revolution is right around the corner Thailand is in the top 3 with Russian and India good luck when the masses realize, seems to be the world wide trend. massive protest in Korea over corruption people are tired and angry. korea says 250,000 a day third party monitors say 1.2 - 1.5 million  marching everyday . guys can not continue like everything is ok , people are ready to pull out the guillotines, will not be pretty

Buddhism will continue to placate them don't worry, you think too much.Thailand is a few generations away from having a problem. 

[nausea]

This is a given, when they get too arrogant, who 's first up against the wall.. History repeats itself. Nothing changes.

[silent]

15 hours ago, ezzra said:

There's nothing wrong with being rich as long as it was obtained through hard work

perseverance and honesty... all the other means people got rich should be condemned....

And the rich say that's a poor attitude 

[beautifulthailand99]

18 hours ago, edwinchester said:

.....and it's that 1% preaching to the vast majority to be happy with and follow the self sufficiency model and to be happy with their meagre income and place on the bottom rung.

I can find at least 112 reasons to agree with your statement !

[beautifulthailand99]

10 hours ago, Eric Loh said:

 

The curse of the 3rd generation. Grandpa Chaleo toil and started Red Bull. Daddy Chalerm expanded the business to reach its zenith and son will squander the wealth. True of so many wealthy families. 

 

Yeah a lot of wayward sons p$ss away the inheritance of their fathers - makes a good case against inherited wealth.

[bbbbooboo]

hmmm.....there is one thing that money can't buy .........and that's poverty

[worgeordie]

On 30/11/2016 at 7:43 AM, lgking said:

I could not eat a whole one, as   I suspect they would taste like <deleted>,

regards Worgeordie

[worgeordie]

As the 58% will include those that make all the laws,

is why they will not ease up and allow long time Expats,

Farangs living here with families,the right to own even 

a small piece of land to build a home on,they dont want

to lose their grasp on anything,only to claw in more.

regards worgeordie

[digibum]

23 hours ago, ezzra said:

There's nothing wrong with being rich as long as it was obtained through hard work

perseverance and honesty... all the other means people got rich should be condemned....

 

That's why I punch lottery winners in the face.  Dirty scumbags. 

 

Oh, and what if what you did didn't require any perseverance?  Like, let's say that some guy is sitting around one day and thinks, "Hey, I wish there was a way for me to eat and talk on the phone at the same time" and he scribbles some stuff on a piece of paper and files a patent application.  Next day Apple sees the patent application and offers him $10 million for his invention and they create the iFork from his idea.  

 

Condemn or no condemn?  

 

It's just so hard to tell who I should go around judging these days.  

[soalbundy]

1 hour ago, bbbbooboo said:

hmmm.....there is one thing that money can't buy .........and that's poverty

poverty is over rated. I liked a sticker i saw on the back of a Porsche in Germany, ''Your poverty makes me sick'