webfact Posted May 3, 2018 Share Posted May 3, 2018 Chearavanonts again top Forbes list as wealth soars for rich Thais By The Nation Thailand’s richest saw their collective wealth surge to more than US$162 billion, up one-third from the previous year, according to the Forbes Thailand Rich List 2018. Among the top 50 richest on the list, two-thirds saw their wealth rise, with the top four alone adding close to $25 billion. The list can be viewed at www.forbes.com/thailand and www.forbesthailand.com as well as in the May issues of Forbes Asia and Forbes Thailand. After a subdued spell, Thailand’s economy is gathering momentum, Forbes noted. With rising exports and a recovery in domestic demand, the World Bank has forecast that, for the first time since 2012, Thailand’s economic growth will exceed 4 per cent in 2018. Relative to this modest upturn, the nation’s richest are enjoying a disproportionate wealth boom, spurred by stock market gains and a stronger baht. The top four on the list are the year’s biggest dollar gainers, with the Chearavanont brothers of the Charoen Pokphand Group retaining the No 1 spot with a record $30 billion. Their wealth got a boost from soaring shares of their key holdings, such as 7-Eleven operator CP All, which benefited from an uptick in sales, and Chinese insurer Ping An, whose fintech bets are paying off. Taking the second spot on the list is the Chirathivat family of Central Group, who saw their wealth rise to $21.2 billion, up from $15.3 billion last year. Red Bull owner Chalerm Yoovidhya and his clan took the No 3 spot on the list as their wealth increased by $8.5 billion to $21 billion this year. Charoen Sirivadhanabhakdi (No 4, $17.4 billion) of Thai Beverage saw his fortune increase by $2 billon from a year ago. Another big winner is Aloke Lohia (No 9), whose wealth surged 89 per cent to $3.3 billion this year. Since 2014, his prolific deal-making saw his Indorama Ventures net 16 acquisitions across the globe, including in Europe and North America. For 2017, his company reported a 17 per cent jump in revenue to $8.4 billion. Reflecting rising prosperity, there are $32-billion-plus fortunes on this year’s list, four more than in 2017. There are four new names, including two newly minted billionaires who join the ranks after taking their companies public. US-educated Sarath Ratanavadi (No 7), CEO of Gulf Energy Development, which listed in December, is the richest newcomer with $3.4 billion. Prachak Tangkaravakoon (No 14) makes his debut on the list with a net worth of $2.1 billion. The other two new listees are from Thailand’s buoyant beauty industry. They are Suwin and Tanyapon Kraibhubes (No 40) of Beauty Community with a combined net worth of $715 million and Sarawut Pornpatanaruk (No 45, $675 million), whose Do Day Dream is cashing in on the skin-whitening craze. Of the nine women who feature in the top 50, there are two returnees this year, including matriarch Somporn Juangroongruangkit (No 28, $1.3 billion), chairman of auto parts group Thai Summit. Another notable woman to make the list is shipping heiress Nishita Shah Federbush (No 32, $1.06 billion), who helms the GP Group and saw her family’s fortune cross $1 billion for the first time. Much of the gain was due to the family’s 51-per-cent stake in listed pharma unit Mega Lifesciences, founded by her father Kirit in 1982. THE TOP 10 Chearavanont brothers, US$30 billion Chirathivat family, $21.2 billion Chalerm Yoovidhya, $21 billion Charoen Sirivadhanabhakdi, $17.4 billion Vichai Srivaddhanaprabha, $5.2 billion Krit Ratanarak, $3.7 billion Sarath Ratanavadi, $3.4 billion Prasert Prasarttong-Osoth, $3.35 billion Aloke Lohia, $3.3 billion Vanich Chaiyawan, $3 billion The list was compiled using shareholding and financial information obtained from the families and individuals, stock exchanges and analysts, the Stock Exchange of Thailand and regulatory agencies. The list encompasses family fortunes, including those shared among extended families of multiple generations. Public fortunes were calculated based on stock prices and exchange rates as of April 20. Source: http://www.nationmultimedia.com/detail/breakingnews/30344532 -- © Copyright The Nation 2018-05-03 Link to comment Share on other sites More sharing options...
canopus1969 Posted May 3, 2018 Share Posted May 3, 2018 And that Ladies and Gentlemen is why the 'Amart' will always rule Thailand Link to comment Share on other sites More sharing options...
Expatthailover Posted May 3, 2018 Share Posted May 3, 2018 23 minutes ago, canopus1969 said: And that Ladies and Gentlemen is why the 'Amart' will always rule Thailand Yes its terrible that wealth is so disproportionately shared in thaialnd whereas the rest of the world is a utopian egalitarian paradise where EVERYONE has an account in the cayman islands and a yacht moored in the bahamas. Link to comment Share on other sites More sharing options...
Eligius Posted May 3, 2018 Share Posted May 3, 2018 People such as these mega-wealthy elites are rightly called the 'filthy rich': they are the moral dregs and dross of society - far, far worse than any harmless beggar on the street. They are part of the power-wielders who ensure that fascism and oppression of the people continues and that there will always be beggars on the street and poverty up and down the length and breadth of the land. For me, such smug (look at the photo), super-wealthy, beyond-selfish individuals are barely human any more - if ever they were! Link to comment Share on other sites More sharing options...
KiwiKiwi Posted May 3, 2018 Share Posted May 3, 2018 "wealth soars for rich Thais" There ya go ladies and gentlemen, the army doing the job it was employed to do. Pure and simple. Link to comment Share on other sites More sharing options...
the guest Posted May 3, 2018 Share Posted May 3, 2018 Well after they are gone, they will only be remembered because of their wealth not because they did anything else remarkable. Link to comment Share on other sites More sharing options...
worgeordie Posted May 3, 2018 Share Posted May 3, 2018 On the other side of the coin,they should list the poorest people in Thailand,you know the ones that haven't even got a pot to piss in. regards worgeordie Link to comment Share on other sites More sharing options...
humbug Posted May 3, 2018 Share Posted May 3, 2018 43 minutes ago, KiwiKiwi said: "wealth soars for rich Thais" There ya go ladies and gentlemen, the army doing the job it was employed to do. Pure and simple. exactly, the cp group family and red bull family very active in pro-coup and look what happens the generals economic team is mostly made up of cp group or ex-cp group execs and seeing the family is chinese its no surprise to see them become an open door to chinese investment. There was that lady the whistleblower at the bank who witnessed the transfer of billions of baht to a singapore account in mr p's name. They never denied it just kept her quiet ever since. Once Chinese big business and millitary govern using a caste system then it needs a full blown revolution from bottom up of society. Otherwise its just an organised crime syndicate running the country Link to comment Share on other sites More sharing options...
KiwiKiwi Posted May 3, 2018 Share Posted May 3, 2018 1 minute ago, humbug said: exactly, the cp group family and red bull family very active in pro-coup and look what happens the generals economic team is mostly made up of cp group or ex-cp group execs and seeing the family is chinese its no surprise to see them become an open door to chinese investment. There was that lady the whistleblower at the bank who witnessed the transfer of billions of baht to a singapore account in mr p's name. They never denied it just kept her quiet ever since. Once Chinese big business and millitary govern using a caste system then it needs a full blown revolution from bottom up of society. Otherwise its just an organised crime syndicate running the country "Otherwise its just an organised crime syndicate running the country", Same as it ever was, has been for decades and the Godfather is...? Link to comment Share on other sites More sharing options...
humbug Posted May 3, 2018 Share Posted May 3, 2018 47 minutes ago, KiwiKiwi said: "Otherwise its just an organised crime syndicate running the country", Same as it ever was, has been for decades and the Godfather is...? yes and from these chinese families could be a few new godfathers with the state godfather behind them over in the motherland Link to comment Share on other sites More sharing options...
JAG Posted May 3, 2018 Share Posted May 3, 2018 5 hours ago, webfact said: Thailand’s richest saw their collective wealth surge to more than US$162 billion, up one-third from the previous year, according to the Forbes Thailand Rich List 2018. Indeed, happiness is restored... Link to comment Share on other sites More sharing options...
sammieuk1 Posted May 3, 2018 Share Posted May 3, 2018 Same everywhere 40% in abject poverty pays for super rich and the mushrooming cloud of trinket inventers. Link to comment Share on other sites More sharing options...
DrTuner Posted May 3, 2018 Share Posted May 3, 2018 It's easier getting rich when your income is protected by laws making competition hard. Link to comment Share on other sites More sharing options...
Enoon Posted May 3, 2018 Share Posted May 3, 2018 10 hours ago, Expatthailover said: Yes its terrible that wealth is so disproportionately shared in thaialnd whereas the rest of the world is a utopian egalitarian paradise where EVERYONE has an account in the cayman islands and a yacht moored in the bahamas. The disparity in wealth distribution is far more skewed than it is in, for instance, the UK: 55% of wealth shared among top 1% in Thailand. 45% of wealth shared among top 10% in UK. At the other end of the scale: 8.7% of wealth shared among bottom 50% in UK. 5.7% of wealth shared among bottom 60% in Thailand. (UK sources "The Equality Trust") Just one of the reasons that your dream life in the tropics ("ExpatlovestheThailifehegets".......living on the backs of other peoples poverty) is built on a powder keg. Link to comment Share on other sites More sharing options...
Damrongsak Posted May 3, 2018 Share Posted May 3, 2018 10 hours ago, Expatthailover said: Yes its terrible that wealth is so disproportionately shared in thaialnd whereas the rest of the world is a utopian egalitarian paradise where EVERYONE has an account in the cayman islands and a yacht moored in the bahamas. Big deal. I have $20 Billion dollars and change (in other currencies). Hoping my pocket change lasts the rest of my life. Link to comment Share on other sites More sharing options...
Thian Posted May 3, 2018 Share Posted May 3, 2018 11 hours ago, webfact said: Red Bull owner Chalerm Yoovidhya and his clan took the No 3 spot on the list as their wealth increased by $8.5 billion to $21 billion this year. So his share of the Red Bull profit was 8.5 bn us$...i wonder how they did that, was it a record sales year for redbull?? Link to comment Share on other sites More sharing options...
nobodysfriend Posted May 4, 2018 Share Posted May 4, 2018 17 hours ago, webfact said: With rising exports and a recovery in domestic demand, the World Bank has forecast that, for the first time since 2012, Thailand’s economic growth will exceed 4 per cent in 2018 And the interest rates the banks are giving for fixed deposits are only falling ...? Something's wrong here... Link to comment Share on other sites More sharing options...
robertthesculptor Posted May 4, 2018 Share Posted May 4, 2018 And what if the common man woman..... But never mind the good of the people, as long as the rich get theirs the bodies of the the common man woman and child mean nothing. Buddhists my ass. Thieving thugs Link to comment Share on other sites More sharing options...
Chris Lawrence Posted May 4, 2018 Share Posted May 4, 2018 I bet some new watches will get sent out. Link to comment Share on other sites More sharing options...
Oziex1 Posted May 4, 2018 Share Posted May 4, 2018 They often claim to be proud of their country, but if things go against them they will bolt to their tax havens in the blink of an eye. They care for one thing only. Link to comment Share on other sites More sharing options...
Somchai Logic Posted May 4, 2018 Share Posted May 4, 2018 Speaks Volumes Link to comment Share on other sites More sharing options...
PatOngo Posted May 4, 2018 Share Posted May 4, 2018 22 hours ago, webfact said: Chalerm Yoovidhya, $21 billion And that.....is why Boss Red Bull will never be caught! Link to comment Share on other sites More sharing options...
Expatthailover Posted May 4, 2018 Share Posted May 4, 2018 4 hours ago, Oziex1 said: They often claim to be proud of their country, but if things go against them they will bolt to their tax havens in the blink of an eye. They care for one thing only. They? Love the smell of misplaced paranoia Link to comment Share on other sites More sharing options...
Oziex1 Posted May 4, 2018 Share Posted May 4, 2018 1 minute ago, Expatthailover said: They? Love the smell of misplaced paranoia How is my comment paranoid, people respond to circumstances to suit themselves and i find it disapointing the wealthy elites may choose to abandon their countries rather than tough it out. Rupert changed citizenship purely for busines purposes. Link to comment Share on other sites More sharing options...
Get Real Posted May 6, 2018 Share Posted May 6, 2018 On 5/3/2018 at 10:23 AM, canopus1969 said: And that Ladies and Gentlemen is why the 'Amart' will always rule Thailand No, it´s definately not. This is something you see in all countries around the world. The problem you are trying to explain in just one sentence is much bigger and more complexed to be dealt with that qiuck. Link to comment Share on other sites More sharing options...
metisdead Posted May 6, 2018 Share Posted May 6, 2018 A post containing an out of date image has been removed as well as a reply. Link to comment Share on other sites More sharing options...
tukkytuktuk Posted May 7, 2018 Share Posted May 7, 2018 And at Number 19 is our favourite, the one, the only.... Link to comment Share on other sites More sharing options...
CGW Posted May 7, 2018 Share Posted May 7, 2018 On 03/05/2018 at 11:31 PM, DrTuner said: It's easier getting rich when your income is protected by laws making competition hard. If I was incredibly rich and some pesky folk started to "take" some of my hard earned inheritance, be nice if I could send the army in to make sure it remained all mine! Just a minute? Link to comment Share on other sites More sharing options...
MaiDong Posted May 8, 2018 Share Posted May 8, 2018 The Central Group family's wealth increased almost US$6 billion in one year. Think about that, that's US$500 million per month, that's just under THB16 BILLION, more or less THB500 MILLION per day, I can't comprehend how that is possible. Link to comment Share on other sites More sharing options...
Wilsonandson Posted May 8, 2018 Share Posted May 8, 2018 The Central Group family's wealth increased almost US$6 billion in one year. Think about that, that's US$500 million per month, that's just under THB16 BILLION, more or less THB500 MILLION per day, I can't comprehend how that is possible. Well, they did sacrifice one of their flagship shopping malls a few years back. Maybe, one good turn deserves another.Sent from my SM-A700FD using Thailand Forum - Thaivisa mobile app Link to comment Share on other sites More sharing options...
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