How the super-rich Thai family that co-founded Red Bull conceals its wealth, using offshore companies
Confidential deals were inadvertently exposed by the jet-setting son Vorayuth “Boss” Yoovidhya, a fugitive after a deadly accident with a motorcycle police officer almost five years ago
The Bangkok billionaire family that co-founded Red Bull, the world’s leading energy drink, uses offshore companies to cloak purchases of jets and luxury properties, including the posh London home where the clan’s fugitive son was last seen.
The Yoovidhya family’s efforts to hide assets show how easily major global financial players can routinely – and, usually, legally – move billions of dollars with little or no oversight.
The family’s confidential deals were inadvertently exposed by the jet-setting son Vorayuth “Boss” Yoovidhya, who has provoked accusations of impunity in Thailand after repeatedly failing to show up in court for allegedly racing away in his Ferrari after a deadly accident with a motorcycle police officer almost five years ago. More than 120 Instagram and Facebook postings by friends and family led Associated Press earlier this year to the Yoovidhyas’ London holiday home, where Vorayuth refused to comment.
Thai authorities revoked his passport and issued an arrest warrant, but claim they do not know where he is.
Now the investigation into Vorayuth’s whereabouts has led to the Panama Papers, a collection of 11 million secret financial documents that illustrate how the world’s wealthiest families hide their money, including some of the Yoovidhya family’s financial arrangements.
