11 July 2024

This year’s 10 richest families in Thailand were revealed by Forbes Asia today (Thursday), most of the rankings remain unchanged from last year.

The richest family in Thailand are still the Chiaravanont brothers, of Charoen Pokphand Group, who have held the number one spot for several consecutive years. Their wealth, which is currently US$26.5 billion has, however, reduced from last year by US$3.7 billion.

The second richest is Chalerm Yoovidhya, co-owner and son of the co-founder of the Red Bull energy drink empire, whose wealth is $US26.4 billion, which increased by $US1.9 billion as their sales continued to grow globally, inching closer to the top spot.

The third richest is Charoen Sirivadhanabhakdi, whose business empire includes Thai Beverage, and whose wealth is $11.2 billion, a $1.5 billion drop from last year.

Forbes Asia also noted that the collective wealth of tycoons on the list fell nearly 6%, to US$151 billion compared to last year, amid the slow economic recovery. With the easing of COVID-19 restrictions, however, Thailand’s tourism is improving, even though it is still a fraction of the 40 million visitors recorded in 2019.

The top 10 richest in Thailand are:

  1. Chiaravanont Brothers (CP Group) US$26.5 billion
  2. Chalerm Yoovidhya (Red Bull) $26.4 billion
  3. Charoen Sirivadhanabhakdi (ThaiBev); $11.2 billion
  4. Sarath Ratanavadi (Gulf Energy Development); $11.1 billion
  5. Chirathivat Family (Central Group); $10.6 billion
  6. Somphote Ahunai (Energy Absolute); $3.9 billion
  7. Prasert Prasarttong-Osoth (BDMS, Bangkok Airways); $3.1 billion
  8. Vanich Chaiyawan (Thai Life Insurance); $3 billion
  9. Prachak Tangkaravakoon (TOA Paint); $2.8 billion
  10. Osathanugrah Family (Osotspa); $2.7 billion

Despite a large number of wealthy tycoons, Thailand’s gap between rich and poor remains a significant problem.

According to the World Bank’s GINI index in 2018, Thailand was ranked fourth among ASEAN member countries for income inequality, with its GINI index at 36.4. The Philippines had the widest income gap, with its GINI index value of 44.4, followed by Indonesia (39.0), and Malaysia (41.0). Thailand’s index has already improved significantly from 47.9 in 1992.