5 Thai billionaires who top the country’s rich list – a long way behind King Maha Vajiralongkorn

May 1 , 2020

Five of the wealthiest billionaires in Thailand – how many can you name? Photo: SCMP collage.

CP strongman Dhanin Chearavanont, Thai Beverage boss Charoen Sirivadhanabhakdi and Red Bull co-owner Chalerm Yoovidhya are among the major players shaping Thailand’s economic landscape

Headlines reverberated across the globe when Thailand crowned its new king in May 2019. King Maha Vajiralongkorn (officially known as King Rama X) is listed as the richest royal in the world with an estimated net worth of US$43 billion, according to reports. He is substantially wealthier than the second richest family in Thailand. While most of the tycoons who top Forbes’ “Thailand’s 50 Richest List” have long histories in the country, some are self-made. Here are the families and individuals who shape Thailand’s economic landscape.

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Chearavanont brothers

Net worth: US$27.3 billion

Dhanin Chearavanont, chairman and CEO of Charoen Pokphand Group, and Jack Ma Yun, co-founder and former executive chairman of Alibaba. Photo: Chen Xiaomei

The Chearavanonts made their fortune through the Charoen Pokphand (CP) Group, one of the largest animal feed and livestock producers in the world. Their latest acquisition saw them adding Tesco’s operations in Thailand and Malaysia to their portfolio for US$10.6 billion in March 2020.

Now the richest family in Thailand, it all started with Chia Ek Chor and his brother Choncharoen when they fled their typhoon-hit village in southern China for Thailand, where they started selling vegetable seeds in 1921. Today the group is led by Chia’s eldest son, Dhanin, who is senior chairman and shares the fortune with his three brothers and other relatives. Dhanin’s eldest son, Soopakij Chearavanont, and youngest, Suphachai Chearavanont, are now CP’s chairman and CEO respectively.

Chalerm Yoovidhya

Net worth: US$20.2 billion

Chalerm and Daranee Yoovidhya. Photo: handout

Yoovidhya is known to co-own Red Bull, the energy drink giant, and Siam Winery – which he founded in 1986. As eldest son, he inherited part of the Red Bull empire from his father, the late Chaleo Yoovidhya. He is married to Daranee, they have three children together: Varangkana Kritakara, Varit and Vorayuth.