Yoovidhya Family Becomes Thailand’s Richest Surpassing Chearavanont Brothers

Chalerm Yoovidhya, co-owner of Red Bull, now leads Thailand’s wealthiest family, overtaking the Chearavanont brothers. Despite this, the overall net worth of Thailand’s 50 richest individuals saw a 12% decline.

The Yoovidhya family’s fortune rose by $2.6 billion, reaching $36 billion, bolstered by Red Bull’s impressive revenue of over $1 billion last year and global sales exceeding 12 billion units.

The Chearavanont brothers, associated with the Charoen Pokphand Group, slipped to second place after nearly a decade at the top. Their wealth decreased from $34 billion to $29 billion, partly due to losses from their stake in China’s Ping An Insurance, which recorded a $2.7 billion loss. In third place, Charoen Sirivadhanabhakdi of Thai Beverage has a wealth of $13 billion, a decline of $3.6 billion from the previous year.

The Chirathivat family maintained their fourth position with $9.9 billion, a 20% decrease from $12.4 billion last year. They increased their shareholding in London’s Selfridges department store in November, becoming the major shareholder. Sarath Ratanavadi, an energy and telecom magnate, remained in fifth place with $9.2 billion, down from $11.3 billion.

Somphote Ahunai, CEO of Energy Absolute, saw his wealth drop by two-thirds to $995 million, pushing him from the top 10 to 32nd place, largely due to concerns over his company’s debt in the renewable energy and electric vehicle sector.

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