Dhanin tops Thailand's rich list

He reclaims the top spot of the country’s 50 richest, after slipping to No 2 a year ago. His fortune, which he shares with three brothers, grew by $2.9 billion, thanks to rising shares of Chinese insurer Ping An Insurance.

According to Forbes, Charoen Sirivadhanabhakdi also moved up one spot to second place with a net worth of $13 billion. Charoen’s Thai Beverage, maker of Chang beer, reported double-digit increases in revenues and profits in a recent quarter. The spirits tycoon aims to double ThaiBev’s revenue to $10 billion by 2020, of which half would be from overseas markets.

The Chirathivat retailing clan, last year’s No 1, dropped to No 3 this year, partly due to a fall in shares of their departmental store developer, Central Pattana. The family’s net worth of $12.3 billion is down from $12.7 billion a year ago. Amid an ongoing regional expansion, their Central Retail group recently acquired 49 per cent in Nguyen Kim, an electronics retailer in Vietnam. Central is also building a shopping mall in Malaysia’s Selangor region.