Two families from Southeast Asia, one from Indonesia and another from Thailand, were the only representatives from the region to secure spots on the 2024 list of the world’s 25 wealthiest families. The list highlights the Waltons of the United States, owners of retail giant Walmart, as the wealthiest family with a staggering fortune of $432 billion.
Most of the other families on the list hailed from the United States, Saudi Arabia, Germany, and India. However, the Hartono family from Indonesia and the Chearavanont family from Thailand stood out as the sole representatives from Southeast Asia.
The Hartono family, ranked 17th, amassed a wealth of $47 billion through their diverse business ventures. The family’s patriarch, Oei Wie Gwan, purchased a struggling cigarette company in 1951 and renamed it Djarum. Under his leadership, the company grew into one of Indonesia’s leading cigarette manufacturers. After Oei’s passing in 1963, his sons, Michael and Budi Hartono, diversified the family’s interests by investing in Bank Central Asia (BCA), which has since become their primary source of wealth. The Hartonos also developed Grand Indonesia, one of the country’s premier shopping destinations.
As of now, Michael and Budi have individual net worths of $22 billion and $23 billion, respectively, placing them among the 100 richest people globally.
The Chearavanont family, ranked 19th with a net worth of $44.1 billion, has a storied history in Thailand. Their journey began in 1921 when Chia Ek Chor relocated from southern China to Thailand after a typhoon devastated his village. He started a business selling vegetable seeds with his brother. Over the next century, the family built Charoen Pokphand Group (CP Group) into one of Thailand’s largest and most diversified conglomerates, with interests in food production, retail, and telecommunications.
Today, CP Group is the world’s leading producer of animal feed, the largest shrimp farmer, and one of the top poultry producers globally, with operations spanning Indonesia, Singapore, and Japan. Dhanin Chearavanont, a member of the second generation, now serves as the group’s senior chairman. Meanwhile, his grandson, Korawad Chearavanont, founded a tech startup in 2020 that counts CP Group among its key clients, further extending the family’s legacy into the tech space.
Have you read?
Best CEOs.
Best Companies.
Richest People (Billionaire).
Richest Women (Billionaire).
Richest in Each Country (Billionaire).
Add CEOWORLD magazine to your Google News feed.
Follow CEOWORLD magazine headlines on: Google News, LinkedIn, Twitter, and Facebook.
Copyright 2024 The CEOWORLD magazine. All rights reserved. This material (and any extract from it) must not be copied, redistributed or placed on any website, without CEOWORLD magazine' prior written consent. For media queries, please contact: info@ceoworld.biz
