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Chearavanont takes second spot in Forbes Asia’s 50 Richest Families

Forbes Asia released their latest list of the for 2016 : the first spot still belong to Lee’s family (Samsung), but two Thai families, Chearavanont and Chirathivat, are among them.

Boris Sullivan

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Forbes Asia released their latest list of the richest families in Asia for 2016 : the first spot still belongs to Lee’s family (Samsung), but two Thai families, Chearavanont and Chirathivat, now rank 2nd and 14th.

This year the net-worth cutoff to make the list was $3.4 billion–$500 million more than last year.

Among the four families dropping off the list is the Hamied clan from India. Its generics maker, Cipla, took a hit, partly reflecting a cut in drug prices by the government, which caused shares to fall.

The owners of Charoen Pokphand Group (CP Group), the Chearavanont family, boast a bank balance of THB976.15 billion, or $27.7 billion according to Forbes estimation.

This is “only” $2 billion short from stealing the first place from South-Korean tycoons Lee’s. The Chearavanont family was in fourth place last year with a fortune of THB701.28 billion.

Among the top five families, business interests span technology, livestock producers, real estate and oil and gas. While the top 50 are rooted in Asia, their conglomerates have worldwide footprints. Collectively, they are worth $519 billion.

Dhanin Chearavanont is CEO of the CP Group, the largest private company in Thailand and one of the world’s largest conglomerate company in the world. It operates the 7-Eleven stores in Thailand as well running large chicken and telecom companies.

The second richest Thai family, namely Chirathivat, can still boast a decent 14th spot on Forbes top 50 list. The Chirathivat family owns Central Group, owner of most of Thailand’s large malls, with a fortune of THB486.26 billion or $13.8 billion according to Forbes.

Forbes top 10 richest among Asia’s 50 Richest Families 2016

RankNameNet WorthCountry of OriginOrigin of Wealth
1Lee family$29.6 billionSouth KoreaSamsung
2Chearavanont family$27.7 billionThailandCharoen Pokphand (CP) Group
3Ambani family$25.8 billionIndiaReliance Group
4Kwok family$25.2 billionHong KongSun Hung Kai & Co
5Lee family$24.7 billionHong KongHenderson Development
6Hartono family$18.6 billionIndonesiaDjarum
7Kwek / Quek family$18.5 billionSingapore, MalaysiaHong Leong group
8Cheng family$17.3 billionHong KongChow Tai Fook Enterprises
9Tsai family$15.3 billionTaiwanCathay Financial
10Hinduja family$14.9 billionIndia, U.K.Hinduja Group
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