Dhanin still top Thai billionaire
Despite the bleak economy, Thai billionaires have grown even wealthier, according to Forbes magazine.
Dhanin Chearavanont, chairman and chief executive of Charoen Pokphand Group, maintains his lead on the list of Thailand’s 16 richest billionaires in the magazine’s 2015 World’s Billionaires list, an increase from only 11 billionaires last year.
Mr Dhanin ranked 81st in the world, up from 97th last year, having added an additional US$2.2 billion to his fortune for a net worth of $13.6 billion, up from $11.4 billion in 2014.
Shares of his most valuable holding, Chinese insurer Ping An, which he acquired in 2013, surged 40% after nearly doubling quarterly revenue on better performance by its banking arm. Those of his True Corporation have more than doubled since China Mobile bought an 18% stake for $880 million last June. And he started 2015 by partnering with Japanese trading firm Itochu for a 20% stake in China International Trust and Investment Corporation for $10.2 billion.
His net worth includes shares he owns together with his three brothers, Jaran Chiaravanont, Montri Jiaravanont and Sumet Jiaravanont. Cousin Kiat Chiaravanont is also a billionaire.
Following closely behind is whisky tycoon Charoen Sirivadhanabhakdi, who grew richer by another $4.2 billion for a net worth of $13.2 billion. Media and real estate tycoon Krit Ratanarak became the third wealthiest after his shares in Bank of Ayudhya, in which he holds a minority stake, doubled in the past year.
Mr Krit surpassed the third-richest Thai last year, Vanich Chaiyawan, chairman of Thai Life, whose net worth increased slightly to $3.7 billion.
Joining her brother on the World’s Billionaires list for the first time, Sudthida Ratanarak, Mr Krit’s low-profile sister, was the 10th-wealthiest Thai this year, with a net worth of 1.7 billion baht.
And despite his downward ranking, ousted prime minister Thaksin Shinawatra kept busy boosting his fortune. His net worth rose to $1.7 billion from $1.6 billion last year.
The global economy may have been shaky, but the net worths of the wealthy showed a rising trend, with 1,826 billionaires on the list, up from 1,645 last year.