50 richest Thai business people revealed in new Forbes list

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BANGKOK, 4 July 2013 Agribusiness conglomerate tycoon Dhanin Chearavanont tops Forbes Magazine’s list of wealthiest business people in Thailand for the fourth consecutive year. The listed 50 have a combined net worth of 84 billion US dollars or a quarter of the nation’s gross domestic product. 

44 out of 50 people named in Thailand’s Rich List 2013 have had their wealth pushed up by the robust stock market which reached a 19-year high in May and the lucrative tourism industry which saw a total of 52 million visitors last year.

Topping the list is Charoen Pokphand Group (CP) head Dhanin Chearavanont, who has been leading the group on an acquisition spree. His CP All, the world’s third biggest operator of 7-Eleven stores, received the green light to acquire discount retailer Siam Makro. His wealth jumped $3.6 billion to $12.6 billion this year.

Following behind at number two is the Chirathivat family, whose fortune jumped $5.4 billion due to strong gains of several stocks, including hotelier Central Plaza and developer Central Pattana.

In addition, King Power Group Chairman Vichai Srivaddhanaprabha is the year’s top gainer, up fivefold and jumping to number 11 from number 37. The listing came after the group’s strong sales, which jumped 35% in 2012 and are expected to post double-digit gains in 2013.