Net worth: US$27.3 billion

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

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.

In 2017, the Panama Papers, a collection of 11 million secret financial documents, showed how easily the world’s wealthiest families are able to hide their money. It was revealed that the address of a five-storey brick house was used by Chalerm among several multimillion-dollar London properties when incorporating Thai Siam Winery in the UK in 2002. It was later revealed that the listed owner wasn’t the Yoovidhyas but Karnforth Investments, which is incorporated in the British Virgin Islands. Their son, Vorayuth, has been seen at the brick house after fleeing from authorities in a hit-and-run case which resulted in the death of a Thai police officer in Bangkok. He is wanted by Interpol.

Charoen Sirivadhanabhakdi

Net worth: US$12.1 billion

Charoen Sirivadhanabhakdi heads Thailand’s largest brewer, Thai Beverage, which produces Chang beer. The son of a Bangkok street vendor, Charoen is a self-made billionaire known for his prowess in mergers and acquisitions, which built his drink and property empire in Thailand. Sirivadhanabhakdi cemented his reputation when his business, TCC Group, became the sole bidder in a December 2017 auction for Vietnam’s biggest brewery (known for Saigon Beer) after the hefty US$4.8 billion price tag frightened off global rivals. His other assets include Singapore drink and property conglomerate, Fraser and Neave. Sirivadhanabhakdi bought hypermarket chain Big C Supercenter for more than US$6 billion in 2016. He listed his privately-held property unit, Asset World Corp in October 2019.

Chirathivat family

Net worth: US$9.5 billion

Central Group is Thailand’s biggest mall developer and retailer, and falls under the control of the Chirathivat family. Tos Chirathivat is the grandson of the group’s founder, Tiang Chirathivat, who established the business in 1927. His son Samrit Chirathivat inherited the business and opened Thailand’s first shopping centre in Bangkok in 1957. Under Tos Chirathivat’s leadership, the company expanded its department stores across Southeast Asia, and later across Europe by acquiring the Italian department store chain, La Rinascente, for US$291 million in 2011 and the Danish department store Illum for an undisclosed amount in 2015. The group is also part of a US$560 million joint venture with China’s JD.com to establish JD Central, an e-commerce site.

Sarath Ratanavadi

Net worth: US$9.5 billion

Sarath Ratanavadi was appointed director and CEO in May 2017 of Thailand’s third-largest energy producer, Gulf Energy Development. With a degree in engineering from the United States, the self-made billionaire is the major shareholder in Gulf Energy. When he took the company public the same year, it raised over US$700 million in what was Thailand’s biggest initial public offering (IPO) in a decade. Shares in the company have risen dramatically since then and revenue surpassed US$1 billion in 2019 with the arrival of gas-fired power projects. The Bangkok-based business also operates solar electricity generation projects across the country. They built Thailand’s first solar power plant in a joint venture with Japanese investors.

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