Thailand's 50 Richest

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#1
Thailand's 50 Richest
Forbes Staff
3833 words
15 Jun 2015
Forbes Asia
FBGL
English
Copyright 2015. Forbes Media LLC.

1. Dhanin Chearavanont
$14.4 Billion UP
Source: Food
Age: 76. Married, 5 Children
Head of agribusiness conglomerate Charoen Pokphand Group, who reclaims top spot as country's richest, is once again striking megadeals. In January CP and Japan's Itochu agreed to jointly buy a 20% stake in Chinese conglomerate Citic for $10.1 billion. Dhanin is also eyeing Tesco's Thai business, estimated at $10 billion. Lately under fire for allegedly indulging in anticompetitive practices, CP recently faced a brief boycott of its 7-Eleven stores. Though the campaign didn't impact sales, the group said it would reflect on public opinion and strive to meet public expectations.
-- In what was billed "the wedding of the year," over 4,000 people, including Prime Minister Gen Prayut Chan-ocha and ousted prime minister Yingluck Shinawatra, attended Dhanin's youngest daughter's wedding reception at the Bangkok Convention Center in December
2. Charoen Sirivadhanabhakdi
$13 Billion UP
Source: drinks, real estate
Age: 71. Married, 5 Children
Spirits tycoon reclaims No. 2 spot after 6 years on a 20% rise in shares of his Singapore-listed Thai Beverage, best known for its Chang beer; long time sponsor of English football club Everton.
3. Chirathivat family
$12.3 Billion DOWN
Source: retail, real estate
Retail clan drops from top spot last year, partly due to fall in shares of their department store developer, Central Pattana. Amid ongoing regional expansion under Tos Chirathivat, grandson of Central Retail 's founder, group recently acquired 49% in Nguyen Kim, an electronics retailer in Vietnam, for an undisclosed amount. Central is also building a shopping mall in Malaysia's Selangor region.
4. Chalerm Yoovidhya
$9.6 Billion DOWN
Source: drinks
Age: 64. Married, 3 Children
Red Bull sold a record 5.6 billion cans in 2014 on rising demand in markets such as India, Turkey and South Africa but fortune of sprawling clan, which owns 51% of the iconic drinks brand, got hit by the euro's decline. Their stake includes 2% owned personally by group head Chalerm, the oldest son of late Red Bull cofounder Chaleo.
5. Krit Ratanarak
$4.7 Billion DOWN
Source: media, banking
Age: 69. divorced, 1 Child
Media magnate's wealth is down as his Bangkok Broadcasting & TV saw revenues from advertising decline 15% in 2014 on weakening consumer sentiment and lower ad spends overall. Krit's Siam City Cement, Thailand's second-largest cement producer, founded by late father Chuan, saw an ownership change in March when Holcim sold most of its 27.5% stake to Hong Kong's Jardine Matheson.
6. Vanich Chaiyawan
$3.95 Billion UP
Source: insurance, drinks
Age: 83. Married, 8 Children
Insurance tycoon's son Chai, who runs Thai Life, the family's biggest asset, is aiming to improve the firm's ranking as Thailand's third-largest life insurer. After selling a 15% stake to Japan's Meiji Yasuda 2 years ago, he recently acquired the 50% stake in Thai Cardif that he didn't own from BNP Paribas. Vanich also has a small stake in Charoen Sirivadhanabhakdi's (No. 2) Thai Beverage.
7. Santi Bhirombhakdi
$2.9 Billion UP
Source: drinks
Age: 68. Married, 3 Children
Faced with higher taxes and imminent curbs on alcohol advertising, beer baron is betting on property. His listed Singha Estate, the new name of Rasa Property Development, which he acquired last year, and plans to invest $3 billion in new projects and buying London property. Santi restructured his clan's 80-year-old Boon Rawd Brewery empire into 5 business segments and is said to be mulling listing the nonalcohol units. Maker of the popular Singha beer is also reportedly in the race for Vietnam's Sabeco.
8. Prasert Prasarttong-Osoth
$2.8 Billion UP
Source: hospitals
Age: 82. married, 5 Children
Founder of Bangkok Dusit Medical Services, Thailand's largest private health care group, added $500 million to his wealth as shares of company rose by more than a fourth in the past 12 months. Plans to add 3 more hospitals to Bangkok Dusit's network of 40 by 2016. His regional airline, Bangkok Airways, which listed last November, not faring as well; it reported a 62% fall in net profits for 2014.
9. Vichai Srivaddhanaprabha
$2.5 Billion UP
Source: duty-free
Age: 57. Married, 4 Children
Duty-free king may lose his King Power retail monopoly at Bangkok's Suvarnabhumi and Don Muang airports as well as Phuket airport, with the military junta saying it's looking for ways to increase competition. Vichai is eyeing expansion in the region, including in Japan and Korea. King Power's revenues were up 20% to $1.9 billion in 2014 despite last year's political crisis, which hit tourist arrivals.
10. Thaksin Shinawatra
$1.7 Billion UP
Source: investments
Age: 65. Divorced, 3 Children
Former prime minister of Thailand, who owns a controlling stake in property firm SC Asset, among much else, lives in self-imposed exile in Dubai. Military junta recently revoked his 2 passports, alleging he had defamed Thai royalty in a media interview.
11. Osathanugrah family
$1.6 billion UP
Source: drinks, investments
Fortune of clan behind Osotspa, maker of popular Thai energy drinks, which is shared by brothers Petch and Ratch and their cousin Niti, is combined this year. Ratch runs privately held company, leading expansion into Myanmar in joint venture with beverage maker Lo Hein. Petch is chairman of Bangkok University. Niti has investments outside the family fold.
12. Keeree Kanjanapas
$1.55 Billion UP
Source: transportation
Age: 65. Married, 2 Children
Founder of BTS Group Holdings, operator of Bangkok's famous Skytrain, recently anointed eldest son Kavin as CEO, though he remains chairman. BTS has been asked by the government to delay a proposed fare increase in light of economic downturn. In property expansion, BTS teamed up in December with SET-listed developer Sansiri to build condo towers along mass transit stations.
13. Wichai Thongtang
$1.51 Billion UP
Source: investments
Age: 68. Married, 4 Children
Reports that IHH Healthcare may buy a stake in Bangkok Dusit Medical sparked rumor that the former lawyer may be selling his stake. Both companies denied any such move. Wichai's portfolio includes TWZ Corp., a distributor of mobile phones and peripheral devices. His pay-TV operator, CTH Public Co. (formerly Cable Thai Holdings), has broadcast rights for English Premier League football in Thailand, Cambodia and Laos through 2016.
14. Chatri Sophonpanich
$1.5 Billion DOWN
Source: banking
Age: 81. Widowed, 4 Children
Chairs Bangkok Bank, the nation's biggest lender, with assets of $64 billion. Family's Bangkok Life Assurance, which reported a 40% earnings decline in 2014, saw its share price drop close to 20% in past year.Other interests include Bumrungrad Hospital, AsiaPlus Securities and warehouse firm Ticon. Daughter Savitri manages the Chatrium Hotel in Bangkok. Chatri enjoys spending time with family, which includes more than a dozen grandchildren.
15. Rit Thirakomen
$1.49 Billion UP
Source: restaurants
Age: 63. Married, 3 Children
Despite a slowing economy, electrical engineer's MK Restaurant Group opened 55 new restaurants in 2014, taking its total to 557, in line with its target of having 1,000 restaurants by 2018. Made a splash with London Street, its new food mall in Bangkok, which houses all 5 of MK's restaurant brands. The most popular is MK Suki, a value-for-money sukiyaki chain founded by his late mother-in-law. Rit runs company along with wife Yupin.
16. Isara Vongkusolkit
$1.45 Billion UP
Source: Sugar
Age: 66. Married, 4 Children
To offset volatility in sugar prices, his privately held Mitr Phol Sugar, Thailand's largest sugar producer, is expanding its energy business, which generates 400 megawatts of electricity, half for its own consumption. The company, which recently faced allegations of human rights abuses and illegal land-grabbing in Cambodia, said it was in discussions with the Cambodian government. Brother Chanin stepped down as CEO of family's Banpu, the country's biggest coal miner, after running it for more than 3 decades.
17. Thongma Vijitpongpun
$1.42 Billion UP
Source: real estate
Age: 57. MARRIED, 1 CHILD
Founder of Pruksa Real Estate, Thailand's largest developer of town houses, which reported double-digit growth in revenues and net profits for 2014, thanks to a recovery in the residential property market. Thongma has lined up 70 new projects and expanded Pruksa's prefabrication capacity. Plans to invest $430 million in buying land parcels.
18. Prayudh Mahagitsiri
$1.36 Billion UNCHANGED
Source: Coffee, Shipping
Age: 69. Married, 3 Children
His instant coffee producer, Quality Coffee Products, a joint venture with Nestlé, grossed nearly $100 million in revenues last year. Keen to expand into oil and gas, Prayudh was eyeing a 15% stake in state oil refiner Bangchak Petroleum valued at $300 million but lost out to a government fund.
19. Vichai Maleenont
$1.35 Billion DOWN
Source: media
Age: 95. Widowed, 7 Children
Media baron took a hit as shares of his BEC World fell more than 20% in the past year, amid bruising competition from new digital TV broadcasters. Rising expenses associated with launching 3 new digital channels resulted in net profits declining by a fifth. Son Prasan runs company while 5 other family members sit on board.
20. William Heinecke
$1.34 Billion UP
Source: hotels
Age: 66. Married, 2 Children
Hotel magnate pressed ahead with his Minor International 's overseas drive, splashing out $190 million on Tivoli Hotels & Resorts, which has properties in Brazil and Europe. Heinecke recently ended a management contract with the Four Seasons for his landmark property in the heart of Bangkok's diplomatic enclave, replacing it with his homegrown brand, Anantara; he still owns 3 other hotels managed by Four Seasons. Auto enthusiast has a collection of 36 cars and motorcycles.
21. Praneetsilpa Vacharaphol
$1.28 Billion UP
Source: media
Age: 83. Widowed, 4 Children
Media matriarch who owns Thai Rath--the nation's largest daily newspaper, founded by her late husband 65 years ago--is out to make her mark in digital television. Thai Rath TV, run by grandson Vachara, is building a new 13-story studio and plans to spend $50 million on developing new content.
22. Banthoon Lamsam
$1.2 Billion UP
Source: banking
Age: 62. Married, 3 Children
Harvard grad became chairman of Kasikorn Bank, or KBank, the nation's fourth-largest lender, when uncle Banyong stepped down in 2013. Eyeing a regional footprint, KBank is due to open a branch in Cambodia. In November it forged a link with Swiss wealth manager Lombard Odier to tap into rising Asian wealth. Family also owns a piece of privately held Muang Thai Life Assurance, a rival to Vanich Chaiyawan's (No. 6) Thai Life.
23. Aloke Lohia
$1.19 Billion DOWN
Source: polyester
Age: 56. Married, 3 Children
One in 4 air bags in the world uses yarns made by $7.5 billion (sales) Indorama Ventures, the world's largest polyester producer, controlled by this Kolkata-born resident of Thailand. In recent buying binge, he acquired 2 Turkish plastic producers and China's Performance Fibers Asia as part of a push into automotive materials. Older brother Sri Prakash is one of Indonesia's richest.
24. Somphote Ahunai
$1.12 billion UP
Source: renewable energy
Age: 48. Married, 3 Children
Former securities trader and founder of what is now the country's hottest renewable energy firm entered the billionaire ranks as shares of his Energy Absolute, which he took public 2 years ago, surged in the past year. Somphote has earmarked investments of more than $550 million to build new solar and wind power projects in 2015.
25. Boonchai Bencharongkul
$1.1 Billion DOWN
Source: telecom, tech
Age: 61. Married, 6 Children
Arts aficionado is Norwegian telecom firm Telenor's partner in Thailand and chairman of their joint venture, Total Access Communications (DTAC), country's second-largest mobile operator. Also controls broadband firm Benchachinda Holdings.
26. Phornthep Phornprapha
$1.06 Billion DOWN
Source: auto
Age: 66. Married, 3 Children
Auto tycoon runs $7.2 billion (revenues) Thavorn Group and its crown jewel, Siam Motors. Company was founded after World War II when late father, Thavorn, started trading and selling used vehicles. Now produces all Nissan cars and trucks in Thailand. Owns golf courses; newest is Pattaya Waterside, at seaside resort of the same name.
27. Surang Prempree
$1.05 billion DOWN
Source: media
Age: 72. Married
Sometimes referred to as "Big Sister Red," the former managing director of Krit Ratanarak's (No. 5) Bangkok Broadcasting & TV, now produces television shows for competitor GMM Grammy. Late mother Reywadee Thienprapart and late brother Chaicharn founded BBTV. Avid golfer.
28. Anant Asavabhokin
$1 Billion DOWN
Source: real estate
Age: 64. Married, 3 Children
Property tycoon's Land & Houses, which he founded with his mother, Piangjai Harnpanij, in 1983, listed its long-delayed retail REIT, the LH Shopping Centres Leasehold Real Estate Investment Trust, by transferring some assets, notably the popular Terminal 21 shopping mall in central Bangkok. In March it raised $246 million through bonds and will use the funds for new projects.
29. Parphan Siriviriyakul
$900 million DOWN
Source: Sugar
Age: 62. Married, 3 Children
Supply glut took toll on sugar baron's Kaset Thai International Sugar, the country's third-largest sugar producer, despite the buoyancy in its biomass power unit, which saw revenues doubling. Japanese partners Sumitomo Corp. and Nissin Sugar are helping company develop liquid sucrose and super-refined sugar. His 3 younger siblings and daughter sit on company's board and work with him.
30. Somporn Juangroongruangkit
$840 million DOWN
Source: auto parts
age: 64. Widowed, 5 Children
President of family's auto parts maker, Thai Summit Group, saw her fortune take a hit on a slowdown in the auto sector. Summit is mulling making super-high-tensile parts to compete with Japanese and German suppliers.
31. Chuchat & Daonapa Petaumpai
$805 million NEW TO LIST
Source: finance
Age: 61, 61. Married, 2 children
Former bankers debut on list after taking their finance firm, Muangthai Leasing, public last November. Company, started by them in 1992, specializes in lending against motorcycles through its network of 670 branches across the country. The husband-wife team are using the IPO funds partly to expand Muangthai's reach in the south.
32. Somyos & Jareeporn Anantaprayoon
$765 million UP
Source: warehousing
Age: 55, 48. Married, 1 Child
Husband and wife, cofounders of warehouse leasing firm WHA Corp., the country's largest developer of warehouses and factories, agreed last November to buy listed industrial land developer Hemaraj Land for $1.3 billion.
33. Kraisorn Chansiri
$700 million UP
Source: Frozen food
Age: 80. Married, 3 Children
Founder of Thai Union Frozen, the world's biggest producer of canned tuna, ended 2014 by inking a $1.5 billion deal to acquire American rival Bumble Bee Seafoods. But in March the company, run by eldest son Thiraphong, was in the eye of a storm after a report alleged that it was sourcing from a supplier linked to slave fishing labor. Thai Union broke off ties with the rogue supplier and said it was working with the government to reform the industry.
34. Chatchai Kaewbootta
$690 million NEW TO LIST
Source: finance
Age: 63. Married, 2 children
Former Honda dealer's finance firm, Srisawad Power 1979, p rovide s l oans against cars and motorcycles and is run by daughters Doungchai and Thida (see story, p. 56).
35. Sunsurn Jurangkool
$675 million DOWN
Source: auto parts
Age: 72. Married, 6 Children
Auto parts magnate's fortune is down on a decline in both domestic sales and exports. Brother-in-law of Somporn Juangroongruangkit (No. 30) heads his separate Summit Group, which started as a car repair shop in the 1930s. Also chairs listed Thai Steel Cable and owns stake in entertainment firm GMM Grammy.
36. Pete Bodharamik
$650 million DOWN
Source: telecom
Age: 42. Single
Telecom tycoon c redited with turning around his family's Jasmine International listed an I n ternet fund in January, raising $1.7 billion in what was the country's biggest IPO so far this year. He's now said t o be looking for overseas partners for Jasmine's expansion into 4G services. Shares of the broadband firm fell in March after it declared a hefty dividend, then went on to issue free warrants to shareholders. He recently denied rumors that he was selling out. Enjoys basketball.
37. Chamroon Chinthammit
$645 million UP
Source: Sugar
Age: 64. married, 4 Children
Sugar magnate's Khon Kaen Sugar, country's fourth-largest sugar miller, founded by late father Chuan in 1945, cut its revenue estimates in April, citing global decline in sugar prices, down by a third since last year. He recently denied rumor that he was orchestrating a backdoor listing of Khon Kaen's energy business by merging it with listed TS Flour Mill. Family also owns majority stakes in Sub Sri Thai, franchisee of Dunkin' Donuts and Au Bon Pain, and in warehouse firm Thai Sugar Terminal.
38. Tan Passakornnatee
$640 million UNCHANGED
Source: drinks
Age: 56. Married, 3 Children
Founder of green tea maker Ichitan Group, known for giving away iPhones, Porsches and gold as prizes in a lucky draw, kept up the hype by offering Mercedes-Benz cars daily for 50 days in a recent marketing campaign. After taking company public last year, he's expanded into juices, acquiring fruit juice brand Bireley's in 16 countries.
39. Siripong Rungrojkitiyos
$635 million DOWN
Source: auto parts
Age: 64. Married, 5 Children
His auto parts maker P.C.S. Machine Group was badly hit by the auto slowdown. It reported a 60% drop in net profit for the last quarter of 2014, amid weak domestic sales and a slump in exports to Brazil.
40. Nishita Shah Federbush
$615 million DOWN
Source: shipping, pharma
Age: 35. Married, 1 Child
Wealth of shipping heiress is down 30% from a year ago as shares of her Precious Shipping plunged by more than 60% and it reported a $2.5 million loss for 2014. Unfazed, the company plans to rejuvenate its fleet by replacing 21 older vessels. Pharma outfit Mega Lifesciences, founded by her father, Kirit, in 1982, is now family's biggest asset.
41. Harald Link
$580 million NEW TO LIST
Source: diversified
Age: 60. Married, 2 children
Avid polo player of German descent heads B. Grimm Group, a storied Thai conglomerate with interests in power generation, transportation and real estate, among much else. Founded in 1878 as Siam Dispensary, it was acquired by Link's grandfather Adolf Link in 1914. After studying in Switzerland and Germany, where he grew up, Harald Link arrived in Bangkok in 1978 to join his uncle in the family firm. Took charge as chief executive in 1987. Now grooming daughter Caroline as successor.
42. Supaluck Umpujh
$560 million NEW TO LIST
Source: retailing
Age: 60. Single
Retail queen is one of 7 children of the late Supachai Umpujh, founder of the Mall Group, best known for such Bangkok shopping havens as Siam Paragon, The Mall and The Emporium. Purdue University pharmacy grad returned home to help her father in setting up The Mall, their first department store, and is now vice chairman of the retailing empire she helped build. Banking on rising tourist influx, she's investing $1.5 billion in 6 projects, including the upcoming Bangkok Mall and the newly opened District-Em.
43. Vicha Poolvaraluck
$530 million UP
Source: movies, fast food
Age: 51. Married, 3 Children
Despite economic slump, cinema magnate's Major Cineplex, Thailand's largest movie theater chain, is on a roll. Revenues were up 10% to $270 million in 2014 as it added 37 theaters and expanded into Cambodia. Major also owns close to one-fourth in mall developer Siam Future, which plans to open the country's first Ikea store in a Bangkok suburb. Other assets include privately owned McThai, operator of country's sole McDonald's franchise.
44. Gunkul Dhumrongpiyawut
$525 million NEW TO LIST
Source: renewable energy
Age: 60. Married, 3 children
Debuts on list after shares of his Gunkul Engineering more than doubled in the past year. The firm, started by him in 1982 as a supplier of electrical equipment, is benefiting from its expansion into green energy. In December it bought a Japanese solar farm for $120 million and is building a power plant in Myanmar. Wife Sopacha has been running firm since 2012.
45. Pongsak Viddayakorn
$520 million UNCHANGED
Source: health care
Age: 81. Married, 2 Children
Cofounder of Bangkok Dusit Medical Services has turned to investing in property after cashing out 3 years ago. The family owns a 72% stake in Principal Capital (formerly Metrostar Property), which son Satit runs. In 2014 Principal eked out a tiny profit thanks to a reduction in interest costs.
46. Nijaporn Charanachitta and Premchai Karnasuta
$495 million RETURNEE
Source: infrastructure
Age: 64, 61. Widow, 3 children; Married, 3 children
Siblings return to list as shares of infrastructure outfit Italian-Thai Development rose at prospect of major projects. Their late father, Chaijudh Karnasuta, started company with Italian partner in 1958 (see box, p. 63).
47. Sathien Setthasit
$475 million NEW TO LIST
Source: drinks
Age: 61. Married, 3 children
Debuts on list after taking his energy drink maker, Carabao Group, public last November; shares up more than 40% since (see box, p. 64).
48. Witoon Suriyawanakul
$470 million DOWN
Source: retail
Age: 57. Married, 2 Children
Founder of Siam Global House, chain of warehouse building materials and DIY home improvement stores, saw shares drop by more than a fourth as sales slowed for the first time in 17 years. It opened 5 new stores in Thailand's provinces last year, bringing total to 32, but ended up reporting lower net profits for 2014. Witoon is reportedly teaming up with Siam Cement Group, one of company's largest shareholders, to expand in region, starting with Myanmar.
49. Charoenrath & Watchai Vilailuck
$430 million RETURNEE
Source: technology
Age: 54, 52. Married, 4 children; Married,
4 children
Brothers who run Samart, a technology and communications firm, return to ranks after plan to list the company's transportation arm boosted shares. Founded by their father, Cherdchai, in 1955 as an electronics repair shop, Samart has since expanded into smartphones and utilities. Older brother Charoenrath is executive chairman and chief executive, while Watchai is president.
50. Plew Trivisvavet
$425 million UP
Source: infrastructure
Age: 69. Married, 3 Children
Construction magnate is busy restructuring his empire to reap big gains from upcoming infrastructure build-out; a merger between his tollway operator, Bangkok Expressway, and subway unit Bangkok Metro is under way. His CH. Karnchang is also in the process of selling its 30% stake in Xayaburi Power in Laos, run by son Thanawat, for $135 million to listed CK Power, run by daughter Supamas.

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#2
Where is Aitthipat Kulapongvanich ????

I thought he should be in the list.
Reply
#3
https://www.facebook.com/AitthipatKulapongvanich

PAGE INFO
Start Date
Born in 1984
Short Description
"FROM GOOD FOR NOTHING KID TO MOST SUCCESSFULL YOUNG ENTREPRENEUR IN THE WORLD" Aitthipat Kulapongvanich, also known as Tob, is a young billionaire based in Thailand.
Bio
His full name is Aitthipat Kulapongvanich. Top Ittipat is one of the youngest Billionaire in the world. He is the CEO of Tao... See More
Gender
Male
Personal Information
Aitthipat Kulapongvanich-tob, founder of Tao Kae Noi (Youth Entrepreneur) Food and Marketing Co., Ltd. Tob is a rising young... See More
Personal Interests
Seaweed
Tao Kae Noi produces many kinds of seaweed as well as many flavors of them. "Crispy seaweed" the Japanese crispy sea... See More
Website
http://www.taokaenoi.co.th/

(11-06-2015, 08:54 AM)Sampling Wrote: Where is Aitthipat Kulapongvanich ????

I thought he should be in the list.
Reply
#4
didn't they make a movie about him in thailand? enterprising young guy but encountered a lot of obstacles took huge risks even when bank already foreclosed him and he when was near broke he went all in - real guts

https://www.youtube.com/watch?v=HxbeZ6WjLCU
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