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Revealed the top 10 millionaires in Thailand from a total of 50 rankings compiled by Forbes magazine for the year 2023 on July 5.
As for Thailand, it was found that the ‘Chearavanont family’ of the CP Kingdom still ranked first as the richest billionaire in Thailand with a net asset value of 1.2 trillion baht. No. 2 went to the Red Bull energy drink kingdom of ‘Chalerm Yoovidhya and Family’ with a net asset value of 1.18 trillion baht and ThaiBev’s ‘Charoen Sirivadhanabhakdi’ ranked third with a net asset value of 481 billion baht.
The net worth of property: 1.2 trillion baht (34 billion dollars)
Business type: Food and Beverage
Chearavanont family, founder and executive of Charoen Pokphand Group such as 7-Eleven retail business, Macro and Lotus wholesale business, telecommunications business in True Corporation, etc. Chearavanont recently established a joint fund with “LDA Capital” in Los Angeles, USA, worth more than USD 2 billion. The investment is planned over the next 12-18 months to support high-growth entrepreneurs across Southeast Asia.
The net worth of property: 1.18 trillion baht (33.4 billion dollars)
Business type: Food and Beverage
The owner of the Red Bull Kingdom, an energy drink that has been with Thais for four decades, started with the opening of T.C. Pharmaceutical Industries Co., Ltd. before expanding into energy drinks in the year of 1968 until it became known quickly. The turning point for Red Bull was when Mr. Dietrich Mateschitz, an Austrian businessman who loved the product and saw an opportunity to market “Red Bull” in foreign markets under the name of “Red Bull” and became a Red Bull GmbH company in Austria to market in other European countries. The Yoovidhya family holds a 51% stake and Mr. Dietrich has a 49%.
The net worth of property: 4.81 hundred billion baht (13.6 billion dollars)
Business type: Beverage
Thai Beverage Public Company Limited, Thailand’s largest alcoholic beverage company, is famous for its Chang beer and Sangsom liquor. After being listed on the Singapore Stock Exchange, ThaiBev expanded its business from alcoholic drinks to non-alcoholic beverages and food businesses to diversify its products and there is also the retail empire, Big C Supercenter, which was acquired in 2016, worth more than $6 billion. Last year, Asset World Corp (AWC), Thailand’s leading real estate company by Chao Sua, was the company that bought the most hotels last year.
The net worth of property: 4.38 hundred billion baht (12.4 billion dollars)
Business type: Retail business
The Chirathivat family, the founder of Central Group, is currently managed by Tos Chirathivat, the 3rd generation of the family. In February 2020, the Chirathivat family registered a private retail company called Central Retail which raised $2.5 billion in IPO which is the largest offering in Thailand. In 2021, it agreed to buy the famous Selfridges department store in the United Kingdom in collaboration with Austrian retailer Signa Holdings for 4.5 billion dollars.
The net worth of property: 3.99 hundred billion baht (11.3 billion dollars)
Business type: Energy business
Sarath Ratanavadi, CEO of GULF, a huge energy business in Thailand and a major shareholder of INTUCH in 2021, became the executive of Advanced Info Service or AIS immediately. Recently, GULF, Singtel, and AIS have begun construction of a 20 MW data center in the Samut Prakan. It will be a fully integrated connecting area with state-of-the-art technology focusing on clean energy. It is expected to open commercial operation by 2025.
The net worth of property: 1.37 hundred billion baht (3.9 billion dollars)
Business type: Financial and investment business
The Chaiwan family owns ‘Thai Life Insurance’, a leading insurance company that has been with Thais for more than 80 years, which is the third largest insurance group in Thailand after the two foreigners, AIA and fwd. Thai Life Insurance with Meiji Yasuda from Japan which holds a 17% stake. Currently, Thai Life Insurance has Vanich Chaiyawan, the eldest son as the leader. Thai Life Insurance is the first and only brand to create brand identity and recognition through many generations of emotional advertising. It has long been in the spotlight both domestically and internationally.
The net worth of property: 1.34 hundred billion baht (3.8 billion dollars)
Business type: Medical business
Prasert Prasarttong-Osoth, founder and owner of the BDMS Kingdom, holds 47 of the largest private hospitals in Thailand such as Bangkok Hospital, Samitivej Hospital, Phyathai Hospital and Paolo Memorial Hospital. He also owns Bangkok Airways and holds a stake in the hotel and media business, PPTV, which recently acquired a 25% stake in ONE channel in mid-May.
The net worth of property: 1.23 hundred billion baht (3.5 billion dollars)
Business type: Fashion & Retail business
The son of Wichai Sriwattanaprapa, the owner of King Power Kingdom, who still holds a duty-free auction of Airports of Thailand Public Company Limited”AOT” which are three concessions in four airports. Apart from his main business, he continues his Leicester City team and other sports. The Lester City club recently announced the signing of King Power as the club’s sponsor again, starting in the 2023/24 season.
The net worth of property: 1.06 hundred billion baht (3 billion dollars)
Business type: Energy Company
Somphote Ahunai, owner of Pure Energy Public Company Limited (EA), a leader in clean energy and environmentally friendly. EA’s business is from beginning to end, fully complete with solar and wind power plants. It also produces electric cars and lithium-ion batteries that are used in electric vehicles. In addition, EV charging stations are also available.
The net worth of property: 8.84 ten billion baht (2.5 billion dollars)
Business type: Food and beverage
The Osathanugrah Family has owned Osotspa for over 132 years, which is considered the oldest company in Thailand. Initially, it was a pharmacy under the name Teck Heng Yoo in 1891, founded by Mr. Pae Sae Lim, the patriarch of the Osathanugrah family. Currently distributing consumer products and is an energy drink manufacturer like M-150. In addition, the company also produces health products and well-known products that have been around for a long time, such as Babi Mild, 12 Plus Ole, etc.
