Fueled by the resurgence of tourism, Thailand's economy is anticipated to experience a growth of 3.6% in 2023, as estimated by the Bank of Thailand. The national election held in May brought an unexpected victory for the progressive Move Forward Party, particularly appealing to the younger demographic in Thailand. However, at the time of reporting, the ascension of the party's Harvard-educated leader, Pita Limjaroenrat, to the position of prime minister remained uncertain.
Against this backdrop of political ambiguity, the collective wealth of Thailand's 50 wealthiest individuals has surged by nearly 15%, reaching an impressive $173 billion. This financial upswing underscores the dynamic interplay between political developments, economic indicators, and the fortunes of the country's affluent elite. This list will include the top 10 richest people in Thailand along with their net worth and source of income.
The Chearavanont brothers maintain their coveted position as the wealthiest individuals in Thailand, securing the top spot with an impressive net worth of $34 billion.
ALSO READ| List of 10 Richest People In Taiwan 2023: Check Here!
10 Richest People In Thailand 2023
The Chearavanont brothers, leading figures within the Charoen Pokphand Group, have secured the top spot as the wealthiest individuals in Thailand. Notably, this year marked a significant milestone for them as they concluded the merger between their group's telecom unit True and its rival Total Access Communications. Experiencing the most substantial gain in dollar terms, their collective wealth, shared among three living brothers—Dhanin, Sumet, and Jaran—and the family of the late Montri (who passed away last August), has soared by an impressive $7.5 billion. Their unprecedented financial ascent has propelled their combined net worth to a record-breaking $34 billion.
| RANK | NAME | NET WORTH | INDUSTRY |
| 1 | Chearavanont brothers | $34 B | Food & Beverage |
| 2 | Chalerm Yoovidhya & family | $33.4 B | Food & Beverage |
| 3 | Charoen Sirivadhanabhakdi | $13.6 B | Food & Beverage |
| 4 | Chirathivat family | $12.4 B | Fashion & Retail |
| 5 | Sarath Ratanavadi | $11.3 B | Energy |
| 6 | Vanich Chaiyawan | $3.9 B | Finance & Investments |
| 7 | Prasert Prasarttong-Osoth | $3.8 B | Healthcare |
| 8 | Aiyawatt Srivaddhanaprabha & family | $3.5 B | Fashion & Retail |
| 9 | Somphote Ahunai & family | $3 B | Energy |
| 10 | Osathanugrah family | $2.5 B | Food & Beverage |
Experiencing yet another exceptionally prosperous year, Red Bull achieved remarkable sales by distributing 11.6 billion cans globally and generating revenue exceeding $10 billion in 2022. Consequently, Chalerm Yoovidhya has maintained his position in second place among Thailand's wealthiest individuals, amassing a substantial fortune of $33.4 billion. As the magnate of energy drinks, Chalerm contributed an impressive $7 billion to his wealth, shared among his extensive family.
ALSO READ| Top 10 Richest People In South Korea 2023
Chalerm Yoovidhya
It's noteworthy to mention that Dietrich Mateschitz, the Austrian billionaire and co-founder of Red Bull alongside Chalerm's late father Chaleo, passed away last October at the age of 78. The iconic energy drink, which bears the imprint of their collaborative efforts, continues to be a global success story, contributing significantly to the wealth of the Yoovidhya family.
ALSO READ| List Of Philippines’ 10 Richest People 2023
Vanich Chaiyawan
Vanich Chaiyawan, a seasoned figure in the insurance industry, has witnessed a substantial increase in his fortune. The 81-year-old Thai Life Insurance founder experienced a noteworthy financial ascent, with his firm listing last year in what became Thailand's largest Initial Public Offering (IPO) in 2022. Chaiyawan's wealth has surged by an impressive 30%, reaching a substantial $3.9 billion. This remarkable financial achievement secures his position at the 6th spot among Thailand's wealthiest individuals.
ALSO READ| Top 10 Richest People In Singapore
Aiyawatt Srivaddhanaprabha
Aiyawatt Srivaddhanaprabha, whose family is the proprietor of the duty-free operator King Power International, experienced a substantial surge in his net worth. The return of foreign shoppers contributed to this remarkable financial upswing, resulting in his wealth more than doubling to reach $3.5 billion. This noteworthy increase propelled Aiyawatt Srivaddhanaprabha back into the top ten rankings, securing the 8th position among Thailand's wealthiest individuals.
The compilation of this list draws upon Forbes’ comprehensive report titled “Thailand’s 50 Richest 2023.” This compilation process involved gathering shareholding and financial data obtained from various sources including families, individuals, stock exchanges, analysts, the Stock Exchange of Thailand, and regulatory agencies. Unlike our billionaire rankings, this particular list encompasses family fortunes, including wealth shared among extended family members spanning multiple generations.
Public fortunes featured in the list were calculated based on stock prices and exchange rates as of June 16. For privately held companies, valuation was conducted through comparisons with analogous publicly traded companies. This meticulous approach to compiling the list underscores the multifaceted nature of wealth assessment, accounting for diverse sources and factors influencing the net worth of Thailand's affluent elite.
The list will be updated for the year 2024 as soon as the latest data is available.
ALSO READ|
Comments
All Comments (0)
Join the conversation