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Thailand takes three spots in Forbes’ richest as Red Bull joins the list

For the first time The Yoovidhya family, the maker and marketer of Krating Daeng and gold Red Bull energy drinks in Asia, has made the 2017 Forbes list of Asia’s richest families

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Three Thai families – Chearavanont, Chirathivat and Yoovidhya – are now included in the Asia’s richest families of 2017 list published by Forbes magazine. 

Two of the richest Thai families are in the top ten of Forbes, claiming fourth and tenth spot.

For the first time The Yoovidhya family, the maker and marketer of Krating Daeng and gold Red Bull energy drinks in Asia, has made the 2017 Forbes list of Asia’s richest families, trailing two other notable Thai clans: the Chearavanonts and the Chirathivats.

The Chearavanont family, took the fourth spot on the list with a net worth of $36.6 billion.

The family behind Charoen Pokphand (CP) Group, one of the world’s largest purveyors of animal feed and livestock, got a nearly $9-billion boost to its wealth, partly due to a surge in the value of its holding in Chinese insurer Ping An.

Samsung’s Lee family lose No. 1 spot

No family highlights this surge better than the Ambanis of India, this year’s biggest gainer in dollar and percentage terms. Their net worth rose by $19 billion, to $44.8 billion, superseding the Lees of the Samsung empire to claim the No. 1 spot

Family Net Worth  Country
1 Ambani $44.8 billion India
2 Lee (Byung-Chull) $40.8 billion South Korea
3 Kwok $40.4 billion Hong Kong
4 Chearavanont $36.6 billion Thailand
5 Hartono $32 billion Indonesia
6 Lee (Shau Kee) $29 billion Hong Kong
7 Kwek / Quek $23.3 billion Malaysia
8 Cheng Family $22.5 billion Hong Kong
9 Sy $20.1 billion Philippines
10 Chirathivat family $19.3 billion Thailand
11 Premji $19.2 billion India
12 Hinduja $18.8 billion India
13 Tsai (Wan-Tsai & Wan-Lin) $17.7 billion Taiwan
14 Mittal $17.2 billion India
15 Kuok $16.6 billion Singapore
16 Mistry $16.1 billion India
17 Chung $14.8 billion South Korea
18 Saji $14.2 billion Japan
19 Birla $14.1 billion India
20 Godrej $14 billion India
21 Pao $13.4 billion Hong Kong
22 Yoovidhya family $13.1 billion Thailand

 

The list of Asia’s 50 Richest Families is a snapshot of wealth using stock prices and currency exchange rates from the close of markets on November 3, 2017. Private companies were valued by using financial ratios and other comparisons with similar publicly traded companies. To qualify, a family’s wealth must be rooted in Asia and participation in building that fortune has to extend at least three generations.

Nearly half of the richest families in Asia are in China, yet none of 50 we ranked this year are based in the mainland, where conglomerates are young, run by first and second generations who were able to muster billions of dollars in wealth in an open economy.

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Thailand BOI Approves Measures to Support Carbon Reduction

greenhouse gas emission as well as an enhanced scheme for electric vehicles and measures to mitigate Covid-19 impacts and support local vaccine development

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The Thailand Board of Investment (BOI) approved incentives to encourage companies to reduce greenhouse gas emission as well as an enhanced scheme for electric vehicles and measures to mitigate Covid-19 impacts and support local vaccine development, Ms Duangjai Asawachintachit, Secretary General of the BOI, announced today.

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Thailand falls out of global top 20 most expensive locations for expatriate staff

Thailand plunges out of the global top 20 most expensive locations to hire expatriate employees, falling by eight places in the rankings.

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The average pay package for a mid-level expatriate worker in Thailand has fallen by over 7% to USD 223,142 annually.

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