Wealth of Thailand’s 50 richest crosses $100b

Home Business News Economy and Trade Wealth of Thailand’s 50 richest crosses $100b

• Business News
• Economy and Trade
• Industries
• Energy & Resources
• Lifestyle
• Life
• Lists
• Manufacturing & Industry
• Markets
• Real Estate
• Travel

by Arno Maierbrugger - Jun 9, 2015 6832 Dhanin Chearavanont, head of food giant CP Group, is Thailand’s richest

The new Forbes list of Thailand’s 50 richest people is out, and it seems that the sluggish economy and the political uncertainty in the kingdom in the past year did not have that many negative effects to the wealth of most of the country’s super-rich.

In fact, Thailand’s richest, agribusiness tycoon and head of CP Group, Dhanin Chearavanont, enjoyed a 25 per cent jump in net worth, up to $14.4 billion, mainly owing to rising shares of Chinese insurer Ping An Insurance he bought back in 2013.

The second on the list, Charoen Sirivadhanabhakdi, founder and chairmen of Thai Beverage, Thailand’s largest beverage company and maker of iconic Chang beer, reported double-digit increases in revenues and profits in a recent quarter. Shares of the Singapore-listed brewer are up, resulting in a net worth for Charoen of $13 billion.

There were also six newcomers to the 50 richest list, among them Somphote Ahunai ($1.11 billion), founder of renewable energy company Energy Absolute, Sathien Setthasit ($475 million), co-founder of energy drinks producer Carabao Group and Chatchai Kaewbootta ($690 million) of Srisawad Power 1979, which offers microcredits mainly against cars and motorcycles, and  All of them took their companies public, and shares soared.

Altogether, the collective wealth of all 50 richest Thais crossed the $100-billion- mark in 2015, even though some got hit by the economic slowdown as a result of last year’s political turmoil, when consumer spending slumped, farm subsidies were reduced and tourist arrivals dropped.

Thailand’s 10 richest people in 2015:

Click to enlarge (Graphic: Arno Maierbrugger)

 

Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

 

 

[caption id="attachment_25289" align="alignleft" width="250"] Dhanin Chearavanont, head of food giant CP Group, is Thailand's richest[/caption] The new Forbes list of Thailand's 50 richest people is out, and it seems that the sluggish economy and the political uncertainty in the kingdom in the past year did not have that many negative effects to the wealth of most of the country's super-rich. In fact, Thailand's richest, agribusiness tycoon and head of CP Group, Dhanin Chearavanont, enjoyed a 25 per cent jump in net worth, up to $14.4 billion, mainly owing to rising shares of Chinese insurer Ping An Insurance he bought back...

Dhanin Chearavanont, head of food giant CP Group, is Thailand’s richest

The new Forbes list of Thailand’s 50 richest people is out, and it seems that the sluggish economy and the political uncertainty in the kingdom in the past year did not have that many negative effects to the wealth of most of the country’s super-rich.

In fact, Thailand’s richest, agribusiness tycoon and head of CP Group, Dhanin Chearavanont, enjoyed a 25 per cent jump in net worth, up to $14.4 billion, mainly owing to rising shares of Chinese insurer Ping An Insurance he bought back in 2013.

The second on the list, Charoen Sirivadhanabhakdi, founder and chairmen of Thai Beverage, Thailand’s largest beverage company and maker of iconic Chang beer, reported double-digit increases in revenues and profits in a recent quarter. Shares of the Singapore-listed brewer are up, resulting in a net worth for Charoen of $13 billion.

There were also six newcomers to the 50 richest list, among them Somphote Ahunai ($1.11 billion), founder of renewable energy company Energy Absolute, Sathien Setthasit ($475 million), co-founder of energy drinks producer Carabao Group and Chatchai Kaewbootta ($690 million) of Srisawad Power 1979, which offers microcredits mainly against cars and motorcycles, and  All of them took their companies public, and shares soared.

Altogether, the collective wealth of all 50 richest Thais crossed the $100-billion- mark in 2015, even though some got hit by the economic slowdown as a result of last year’s political turmoil, when consumer spending slumped, farm subsidies were reduced and tourist arrivals dropped.

Thailand’s 10 richest people in 2015:

Click to enlarge (Graphic: Arno Maierbrugger)

 

Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

 

 

Read More

jQuery(function() { jQuery('span.play button').click(function() { jQuery('#excert-content').toggleClass('hide-this'); return false; }); jQuery('span.play button').click(function() { jQuery(this).closest('.post').find('.toggleSection').slideToggle(); return false; }); jQuery("button").on("click", function() { var el = jQuery(this); if (el.text() == el.data("text-swap")) { el.text(el.data("text-original")); } else { el.data("text-original", el.text()); el.text(el.data("text-swap")); } }); });

• TAGS
• Carabao Group
• Charoen Pokphand
• Charoen Sirivadhanabhakdi
• Chearavanont family
• CP Group
• Dhanin Chearavanont
• Energy Absolute
• Energy drink
• Krit Ratanarak
• Ping An Insurance
• Thai Beverage
• Thaksin Shinawatra

Previous articleMalaysia Airlines wants to attract investors 'once business improves'Next articleVietnam puts new casino licenses on hold Arno Maierbrugger NO COMMENTS Leave a Reply

Notify me of follow-up comments by email.

Notify me of new posts by email.

Δdocument.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() );