Wealthiest Thais become richer
For a country that some outsiders see as beset by political turmoil and rural insurgency - never mind last year's calamitous flooding - Thailand has done remarkably well by its richest.
Thailand’s 40 richest people have a collective wealth of US$55 billion (Bt1.73 trillion), an increase of 22 per cent from $45 billion last year, according to Forbes magazine.
Frequently making headlines these days is Charoen Sirivadhanabhakdi, No 3 on the list with $6.2 billion in net worth. His flagship beer unit, Thai Beverage, is now aggressively bidding for Asia Pacific Breweries (maker of Tiger beer) against Heineken, which likewise has an existing stake and is trying to expand into Asian markets to counter weak European consumer demand.
Aside from Charoen, Charoen Pokphand Group’s Dhanin Chearavanont, who retains top spot with $9 billion in net worth – up by $1.6 billion from last year – and the Chirathivat family (No 2 with $6.9 billion), were also known to have been aggressively expanding their business overseas. Dhanin, reigning Forbes Asia’s Businessman of the Year for his interests in China, has stated his interest in the likes of France’s Carrefour and the US’ Smithfield Foods.
The Chirathivat family saw its fortune increase by 60 per cent to $6.9 billion as they moved up two places to No 2. The descendants of Central Group’s late founder, Tiang Chirathivat, share a fortune that is largely derived from their ownership of Central Retail and Central Pattana.
Forbes noted that many of Thailand’s wealthiest are looking to take on international rivals, on the strength of an expected 6-per-cent growth in the Thai economy this year.
Others expanding abroad include Kraisorn Chansiri (No 25), whose Thai Union Frozen Products is on a foreign-acquisition spree, and Aloke Lohia (No 8) of Indorama Ventures, who is starting one of the first polyethylene terephthalate businesses in Africa.
Rounding out the list at No 40 was Paiboon Damrongchaitham, chief of GMM Grammy, with net worth of $200 million.
Four names dropped off the list, including Wit Viriyaprapaikit, who chairs Southeast Asia’s largest steel-sheet producer.
Other big names on the list included the Yoovidya family (No 4, with $5.4 billion), which partially owns the Red Bull brand; Thongma Vijitpongpun of Pruksa Real Estate; Isara Vongkusolkit and family, who own a majority interest in Mitr Phol Sugar Group; Prayudh Mahagitsiri, who holds the main interest in Thainox Stainless; Land & Houses’ Anant Asavabhokin; Minor International’s William E Heinecke; and TPI Polene’s Prachai Leophairatana and family.
See the full list of the 40 richest Thais at http://www.nationmultimedia.com/business/
Dhanin-remains-Thailands-wealthiest-30189389.html or http://goo.gl/3LV5o
