11 July 2024

Red Bull empire scion Chalerm Yoovidhya and his family have been ranked Thailand’s richest family in 2024 by Forbes Thailand, dethroning the Chiaravanont family, who own the Charoen Pokphand conglomerate. 

The net worth of the Red Bull energy drink empire, which co-owns Red Bull GmbH, is estimated at US$36 billion (~1.2 trillion baht).

Second on the 2024 list of Thailand’s top ten richest families are the Chiaravanonts, led by Dhanin, with a net worth estimated at US$29 billion (~1.06 trillion baht).

The other eight on the list are:  

• Liquor tycoon Charoen Sirivadhanabhakdi, net worth of US$10 billion (~368 billion baht)

• The Chirathivat retail and hotelier family, a combined net worth of US$9.9 billion (~364 billion baht)

• Wind energy tycoon Sarath Ratanavadi, net worth of US$9.2 billion (~338 billion baht)

• Dr. Prasert Prasarttong-Osoth of Bangkok Airways and the Bangkok Hospital chain, net worth of US$3.8 billion(~139 billion baht)

• Aiyawatt Srivaddhanaprabha, airport duty free outlets, net worth of US$3.6 billion (~132 billion baht)

• Vanich Chaiyawan, net worth of US$3.3 billion (~121 billion baht)

• The Osathanugrah family, net worth of US$2.2 billion(~81 billion baht)

• Prayudh Mahagitsiri, net worth of US$2.15 billion (~79.1 billion baht)

According to Forbes Thailand, the combined wealth of the ten richest families and individuals dropped by nearly 12%compared to last year, due mainly to political instability since Prime Minister Srettha Thavisin assumed the office, which has affected foreign investor confidence in the country.

The Red Bull family’s net worth increased this year due to a US$11 billion revenue increase from the worldwide sale of more than 12 billion bottles of energy drinks.

Revenues of the Chiaravanont family dropped to US$29 billion, from last year’s US$34 billion, mainly due to the sharp fall in the share price of China’s Ping Aan Insurance,which reported a loss of US$2.7 billion last year.

Liquor tycoon Charoen also saw a quarter of his fortune wiped out, as his net worth this year dropped to US$10 billion. The Chirathivat family’s net worth also dropped by about 20%, to US$9.9 billion, according to Forbes Thailand.