CP Family climbs to 19th in global wealth rankings

 

The Chearavanont family, which controls the Charoen Pokphand Group (CP), has solidified its position among the world's wealthiest, ranking 19th on Bloomberg's Billionaires Index with a net worth of $44.1 billion.

 

 

The family’s ascent to global prominence is a testament to the success and diversification of the CP Group, a conglomerate with interests spanning agriculture, retail, telecommunications, and real estate.

 

 

The roots of the family's fortune can be traced back to 1921 when Chia Ek Chor, the grandfather of current senior chairman Dhanin Chearavanont, fled a typhoon-ravaged village in southern China and began a new life in Thailand, selling vegetable seeds with his brother.

 

 

Under Dhanin’s leadership, the CP Group transformed into a global powerhouse. In 2012, the company made headlines by acquiring a significant stake in Chinese insurance giant Ping An Insurance from HSBC for $9.4 billion.

 

 

More recently, the next generation of the Chearavanont family has embraced innovation. Korawad Chearavanont, Dhanin’s grandson, founded a technology startup in 2020, leveraging his entrepreneurial spirit and the resources of the CP Group.

 

 

The Walton family, owners of Walmart, topped the Bloomberg Billionaires Index with a net worth of $432.4 billion. Other notable entries include the Al Nahyan family of Abu Dhabi, the Al Thani family of Qatar, and the Hermès family of France.

 

 

 

• The overall ranking and net worth is as follows:

1. The Walton family, owners of Walmart – $432.4 billion
2. The Al Nahyan family (N/A) – $323.9 billion
3. The Al Thani family (N/A) – $172.9 billion
4. The Hermès family, owners of Hermès – $170.6 billion
5. The Koch family, owners of Koch Inc – $148.5 billion
6. The Al Saud family (N/A) –  $140 billion
7. The Mars family, owners of Mars Inc – $133.8 billion
8. The Ambani family, owners of Reliance Industries – $99.6 billion
9. The Wertheimer family, owners of Chanel – $88 billion
10. The Thomson family, owners of Thomson Reuters –  $87.1 billion
11. The Johnson family, owners of Fidelity Investments – $72.4 billion
12. The Albrecht family, which owns Aldi –  $60.2 billion
13. The Pritzker family, which owns Multiple –  $59.4 billion
14. The Cargill family, MacMillan, which owns Cargill – $56 billion
15. The Ofer family, which owns Multiple – $55.6 billion
16. The Hoffmann family, Oeri, owners of Roche – $53.8 billion
17. The Hartono family, owners of the Djarum Group – $47 billion
18. The Quandt family, which owns BMW – $46 billion
19. The Chearavanont family, owners of the Charoen Pokphand Group – $44.1 billion
20. The Duncan family, owners of Enterprise Products Partners – $43.8 billion
21. The Van Damme, De Spoelberch, De Mevius families, owners of Anheuser-Busch InBev – $43.7 billion
22. The Boehringer family, Von Baumbach, owners of Boehringer Ingelheim – $43 billion
23. The Mistry family, owners of the Shapoorji Pallonji Group – $41.4 billion
24. The Newhouse family, owners of Advance Publications – $38.8 billion
25. The Ferrero family, owners of Ferrero –  $37.4 billion

 

N/A means that Bloomberg cannot identify the business.