Dhanin tops Thailand's richest list

According to the latest Forbes Thailand Rich List, the record number of tourists are a boon for Thailand’s richest. Tourism is Thailand’s number one source of foreign exchange and a growing part of the nation’s GDP. In 2012, 22.3 million tourists visited Thailand, up 16 per cent from 2011, reaching an all-time high.

Among the tycoons from Thailand’s 50 richest who benefited from the uptick in tourism is Vichai Srivaddhanaprabha, whose duty-free airport stores and retail shops are bustling and group sales increased 35 per cent in 2012. He is the year’s top gainer, jumping to No.11 on the rich list from No. 37 with wealth of $1.6 billion. He is also one of 10 who moved into the billionaires club, bringing the number of ten-figure fortunes to 20, up from 12 (two fell below).

Other tycoons who gained from tourism include Nijaporn Charanachitta and Premchai Karnasuta (No. 37, $405 million), who have a stake in Onyx Hospitality and William Heinecke (No. 20, $1 billion), the nation’s biggest hotel operator, who became a billionaire in May.

Thailand’s richest also got a boost from the robust stock market, which reached a 19-year high in May before sliding a bit and is up 14 per cent from last August. Thai share sales, whether IPOs or secondary offerings, hit an all-time record in 2012. One big beneficiary was transport tycoon Keeree Kanjanapas whose BTS Group Holdings led Asia’s largest IPO of the year through April. He too moved into the billionaire ranks.

On top of the list for the fourth straight year is Dhanin Chearavanont. The head of agribusiness Charoen Pokphand led the group on an acquisition spree; his CP All, the world’s third biggest operator of 7-Eleven stores, got approval to acquire discount retailer Siam Makro. He also bought a 15 per cent controlling stake in Ping An Insurance in the biggest-ever foreign acquisition of a Chinese company. His wealth jumped $3.6 billion to $12.6 billion this year.

No. 2 is the Chirathivat family with a net worth of $12.3 billion, up 78 per cent from $6.9 billion in 2012, thanks to the strong gains in their stocks including hotelier Central Plaza (up 140 per cent) and developer Central Pattana (up 85 per cent). The family also owns a stake in Post Publishing Plc.

Charoen Sirivadhanabhakdi holds his spot in third place with $10.6 billion, up 71 per cent from $6.2 billion previously. His Thai Beverage, the country’s largest brewer whose shares were up three-fourths in past year, paid $11 billion for control of Singapore’s beverage and property company Fraser & Neave. His private property arm, TCC Land, is the largest owner of Marriott Hotels in Asia-Pacific. 

There are seven new faces on this year’s list including Siam Global House’s Witoon Suriyawanakul (No. 27, $700 million); WHA’s Somyos & Jareeporn Anantaprayoon (No. 33; $525 million); Samart’s Watchai Vilailuck (No. 39; $370 million); Energy Absolute’s Somphote Ahunai (No. 40; $330 million); and SPCG’s Wandee Khunchornyakong (No. 43; $300 million).

 

 

 

 

The top 10 richest in Thailand are:

1) Dhanin Chearavanont; US$12.6 billion

2) Chirathivat family; $12.3 billion

3) Charoen Sirivadhanabhakdi; $10.6 billion

4) Yoovidhya family; $7.8 billion

5) Krit Ratanarak; $3.9 billion

6) Chamnong Bhirombhakdi; $2.4 billion

7) Vanich Chaiyawan; $2.1 billion

8) Vichai Maleenont; $2 billion

9) Prasert Prasarttong-Osoth; $1.8 billion

10) Thaksin Shinawatra; $1.7 billion