In news sure to elicit an outpouring of sympathy, many of Thailand’s wealthiest have seen their fortunes contract in the past year.
A sagging stock market, weaker baht and political uncertainty were blamed for losses among half of the kingdom’s richest, Forbes’ Thailand revealed Thursday.
The cumulative wealth of the “50 Richest” people in the magazine’s updated ranking was US$160.5 billion (THB5.1 trillion), a slight dip from last year’s $162.5 billion.
The top four spots were unchanged from 2018 – the Chearavanonts of mega-conglomerate CP fame, Central Group’s Chirathivat family, Red Bull owner Chalerm Yoovidhya and ThaiBev’s Charoen Sirivadhanabhakdi.
Charoen of ThaiBev lost roughly $1.2 billion, and Chirathivat family fortune fell by about US$200 million in the past year. Red Bull’s Chalerm has about US$1.1 billion less now.
The biggest climber was Sarath Ratanavadi, who vaulted from seventh to fifth place on the surging value of his Gulf Energy Development company, which helped swell his fortunes to US$5.8 billion from US1.8 billion.
Here’s hoping all these cherished job creators are back on the growth train soon! We’re just too lucky to have them.
Thailand’s top 10 richest, as tracked by Forbes:
- Chearavanont brothers; US$29.5 billion
- Chirathivat family; $21 billion
- Chalerm Yoovidhya; $19.9 billion
- Charoen Sirivadhanabhakdi; $16.2 billion
- Sarath Ratanavadi; $5.2 billion
- Aiyawatt Srivaddhanaprabha; $4.7 billion
- Prasert Prasarttong-Osoth; $3.4 billion
- Osathanugrah family; $3 billion
- Vanich Chaiyawan; $2.85 billion
- Somphote Ahunai; $2.83 billion
