Sarath Ratanavadi, CEO of Gulf Energy, Thailand’s third largest energy producer, is Thailand’s richest man for the fifth year in a row, with a net worth of 190.8 billion baht, mostly in shareholdings in the Stock Exchange of Thailand listed companies, according to the Money and Banking magazine’s December edition.

His net worth, by September 2023, had reduced by 12.86% percent since last year. He owns 35.676% of the shares of the Gulf Energy public company, worth about 190 billion baht, and a 0.67% shareholding in I-Tel Corporation (ITC), a subsidiary of Thai Union group of companies, worth 406 million baht.

Sarath was the richest man in term of shares in listed companies in 2000, worth of about 120.9 billion baht, and has since then held onto that position, with his net worth fluctuating each year.

The second richest man, in terms of share ownership, is Niti Osathanugrah, the scion of the Osathanugrah business empire. His net worth is 61.7 billion baht, an increase of 6.31%, or 3.6 billion baht, since last year.

In third place is Dr. Prasert Prasarttong-Osoth, owner of the Bangkok Dusit Medical Service Group (BDMS) and Bangkok Airways. His net worth is about 57 billion baht, down 9.14%, or about 5.7 billion baht since last year.

The fourth place went to Panicha Dao, who owns 80% of the PSG company, worth about 41.5 billion baht.

Fifth is Pimradaporn Prasarttong-Osoth, CEO of BDMS, whose net worth is 26.6 billion baht, down 23.91%, or about 8 billion baht since last year.

At number 6 and 7 are Chuchart and Daonapa Petampai each of whose net worth is 25.9 billion baht.

In 8th position is Dr. Pongsak Thammathat-Aree, with share ownership estimated at 22 billion baht, an increase of 11 billion baht since last year.

CEO of the Land and House real estate giant, Anant Asavabhokhin, is the 9th richest with a net worth of about 22 billion baht, down 12.36%, or about 3 billion baht since last year.

The 10th place went to Sura Kanitthaveekul, CEO of COM7, which is an IT product retail giant. His net worth is 21.3 billion baht, an increase of about 10 billion baht since last year.