Agribusiness tycoon Dhanin Chearavanont’s fortunes rebounded to stake his position as the richest man in Thailand this year, according to Forbes’ billionaire list released yesterday.
Dhanin, owner of the company that owns pretty much everything – Charoen Pokphand Group, or CP – has a net worth of THB440 billion (USD13.6 billion) and is ranked the 81st richest person in the world.
His family’s fortuns fell last year, dragged down by acquisition of a Chinese insurance company. However Ping An has since doubled its revenues and saw its value soar 40 percent.
CP remains the kingdom’s biggest private company. It is a vertically integrated conglomerate with holdings in everything from agriculture and food to retail, distribution and telecom with investment in over 20 countries.
Responsible for 7-Eleven, much of Thailand’s frozen food, True Corp., Lotus Supercenter and more, CP is one of Asia’s largest conglomerates.
There’s little you can spend money on in Thailand without enriching the Chearavanont clan.
The second-richest Thai on the list is Charoen Sirivadhanabhakdi, chairman of Chang and Sang Som producer Thai Beverage. Charoen has a net worth of USD13.2 billion and is ranked 87th.
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