Connect with us

Companies

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

Boris Sullivan

Published

on

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.

Comments

Banking

APAC corporates likely to improve in 2021

Moody’s Investors Service says in a new report that credit conditions in APAC will improve in 2021, supported by the gradual recovery of economic activity given the early containment of the pandemic in several Asian economies.

Pr News

Published

on

By

Ongoing fiscal and monetary support in both advanced and emerging markets will also aid improving conditions, but renewed lockdowns in parts of the world have stalled the nascent global economic recovery and create uncertainty around improving credit conditions.

(more…)
Continue Reading

Companies

Thai Firm to produce 200 million doses of Covid-19 vaccine

Thai Firm Siam Bioscience Joins with AstraZeneca to Make COVID-19 Vaccine for Southeast Asia and says it will produce 200 million doses of its anti-coronavirus vaccine in Thailand next year.

Olivier Languepin

Published

on

Thailand aims to vaccinate up to half of its population against Covid-19 next year according to the director of its National Vaccine Institute, Dr. Nakorn Premsri.

(more…)
Continue Reading

Business

Great Wall Motor (China) takes over GM factory in Thailand

The Thai production hub will become operational in the first quarter of 2021 with automobile production capacity of 80,000 units per annum.

Avatar

Published

on

Chinese carmaker Great Wall Motor (GWM) hosted a ceremony on November 2nd to celebrate the latest milestone in taking full ownership of Rayong Manufacturing Facility in Thailand.

(more…)
Continue Reading

Latest

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,608 other subscribers

Trending