This year, Chalerm Yoovidhya, co-owner of Red Bull, holds the title of the richest individual in Thailand with a staggering net worth of $44.5 billion, followed closely by the Chearavanont brothers of the CP Group, totaling $35.7 billion, as reported by Forbes magazine.
A significant surge in the fortunes of the top three contenders on the list of Thailand’s 50 wealthiest families led to an 11% increase in their combined wealth, reaching $70.5 billion, according to Forbes.
The Yoovidhya family’s wealth grew by $8.5 billion from the previous year when they also ranked first. This 24% growth was driven by revenues of $12.9 billion (417 billion baht) garnered from the sale of nearly 13 billion cans of Red Bull globally.
In second place, the Chearavanont brothers saw their net worth rise by 23% to $35.7 billion. Following them is energy and telecom tycoon Sarath Ratanavadi, who ascended to third place from fifth, achieving a net worth of $12 billion (389 billion baht), marking a 30% rise from last year.
Beer, liquor, and real estate mogul Charoen Sirivadhanabhakdi, aged 81, fell one rank to fourth with $10.5 billion (340 billion baht). The patriarch of TCC Group transferred some assets to his five children in May, but his fortune remains listed under his name as the founder of the group.
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The Chirathivat family, primarily wealthy through Central department stores and shopping malls, ranked fifth with $8.6 billion (278 billion baht). This represented a 13% decline from the prior year, as subdued consumer sentiment impacted the retail sector.
Former Prime Minister Thaksin Shinawatra found himself in the 11th spot with $2.1 billion (68 billion baht).
Although the minimum net worth to be included on the list decreased to $420 million from $550 million in 2024, four individuals fell off the rankings, Forbes noted.
A significant absentee is renewable energy billionaire Somphote Ahunai, who had consistently appeared among the nation’s wealthiest since 2013. His company, Energy Absolute, saw its shares plummet nearly 80% since the last assessment.
Mr. Somphote stepped down as CEO after securities regulators accused him and two others of fraud in regards to procurement agreements made between 2013 and 2015. He has denied the allegations and expressed his willingness to cooperate with state authorities.